Registered number
05398983
Response Physiotherapy Ltd
Filleted Accounts
31 March 2024
Response Physiotherapy Ltd
Registered number: 05398983
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 76,945 80,547
Current assets
Debtors 5 1,270,787 952,529
Cash at bank and in hand 65,380 169,855
1,336,167 1,122,384
Creditors: amounts falling due within one year 6 (735,533) (603,945)
Net current assets 600,634 518,439
Total assets less current liabilities 677,579 598,986
Creditors: amounts falling due after more than one year 7 (57,333) (140,528)
Provisions for liabilities (10,442) (8,619)
Net assets 609,804 449,839
Capital and reserves
Called up share capital 200 200
Profit and loss account 609,604 449,639
Shareholders' funds 609,804 449,839
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Grieve
Director
Approved by the board on 20 January 2025
Response Physiotherapy Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings Straight line over 25 years
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 30 18
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 303,912
At 31 March 2024 303,912
Amortisation
At 1 April 2023 303,912
At 31 March 2024 303,912
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 112,222 55,499 167,721
Additions - 3,586 3,586
At 31 March 2024 112,222 59,085 171,307
Depreciation
At 1 April 2023 40,303 46,871 87,174
Charge for the year 4,494 2,694 7,188
At 31 March 2024 44,797 49,565 94,362
Net book value
At 31 March 2024 67,425 9,520 76,945
At 31 March 2023 71,919 8,628 80,547
5 Debtors 2024 2023
£ £
Trade debtors 576,249 386,699
Amounts owed by group undertakings and undertakings in which the company has a participating interest 364,635 -
Other debtors 329,903 565,830
1,270,787 952,529
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 40,941 6,372
Trade creditors 64,267 37,485
Amounts owed to group undertakings and undertakings in which the company has a participating interest 499,096 -
Taxation and social security costs 105,298 79,584
Other creditors 25,931 480,504
735,533 603,945
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 57,333 140,528
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 27,062
Secured bank loans 22,833 42,965
[Give an indication of the nature and form of the security for the bank loans]
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 14,300 14,300
10 Loans to directors
Description and conditions B/fwd Repaid Paid C/fwd
£ £ £ £
Mr M Taylor
Loan from director (5,417) 7,312 (1,681) 214
Mr M Grieve
Loan from director (43,981) 105,103 (101,465) (40,343)
(49,398) 112,415 (103,146) (40,129)
11 Related party transactions
Clinic Management Limited
Company under common control
Client Management has ceased trading and the following amount is still outstanding from prior periods.
Amount due from (to) the related party 39,589 39,589
Response Physio Therapy DL Limited
Company under common control
Costs were incurred on behalf of the above company under
common control. These amounts are yet to be repaid.
Amount due from (to) the related party (484,557) (397,903)
Response Physiotherapy Partners LLP
Partnership under common control
Costs were incurred on behalf of the above partnership under
common control. These amounts are yet to be repaid.
Amount due from (to) the related party 261,295 173,116
Response Occupational Health Ltd
Company under common control
Costs were incurred on behalf of the above company under
common control. These amounts are yet to be repaid.
Amount due from (to) the related party (14,538) 181,147
Response Healthcare Group Ltd
Company under common control
Costs were incurred on behalf of the above company under
common control. These amounts are yet to be repaid.
Amount due from (to) the related party 325,046 90,172
Mesh Recruitment Ltd
Company under common control
Costs were incurred on behalf of the above company under
common control. These amounts are yet to be repaid.
Amount due from (to) the related party 264 264
12 Controlling party
The ultimate control of the company lies with both Mr M Taylor and Mr M Grieves.
13 Other information
Response Physiotherapy Ltd is a private company limited by shares and incorporated in England. Its registered office is:
50-60 Wilford Lane
West Bridgford
Nottingham
NG2 7SD
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