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TEESSIDE PAIN MANAGEMENT LIMITED

Registered Number
07216295
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

TEESSIDE PAIN MANAGEMENT LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Dr A P Gulve
Mrs S Gulve

Registered Address

C/O Armstrong Watson 1st Floor
One Strawberry Lane
Newcastle Upon Tyne
NE1 4BX

Registered Number

07216295 (England and Wales)
TEESSIDE PAIN MANAGEMENT LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,9082,482
Investments5102,52193,350
Investment property41,534,6551,358,393
1,641,0841,454,225
Current assets
Debtors633,11123,015
Cash at bank and on hand38,47946,484
71,59069,499
Creditors amounts falling due within one year7(201,091)(76,885)
Net current assets (liabilities)(129,501)(7,386)
Total assets less current liabilities1,511,5831,446,839
Creditors amounts falling due after one year8(370,579)(397,590)
Provisions for liabilities9(977)(620)
Net assets1,140,0271,048,629
Capital and reserves
Called up share capital100100
Profit and loss account1,139,9271,048,529
Shareholders' funds1,140,0271,048,629
The financial statements were approved and authorised for issue by the Board of Directors on 28 January 2025, and are signed on its behalf by:
Dr A P Gulve
Director
Registered Company No. 07216295
TEESSIDE PAIN MANAGEMENT LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 rendering of services. 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Investments
Listed investments are measured at fair value where the difference between cost and fair value is material. Changes in fair value are included in the Income Statement.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair value are recognised in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of income & retained earnings in the same period as the related expenditure.
2.Average number of employees

20242023
Average number of employees during the year12
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 2310,42210,422
Additions3,0473,047
At 30 April 2413,46913,469
Depreciation and impairment
At 01 May 237,9407,940
Charge for year1,6211,621
At 30 April 249,5619,561
Net book value
At 30 April 243,9083,908
At 30 April 232,4822,482
4.Investment property

£
Fair value at 01 May 231,358,393
Additions176,262
At 30 April 241,534,655
5.Fixed asset investments
In respect of investments held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model is £64,190 (2023: £64,190).

Other investments1

Total

££
Cost or valuation
At 01 May 2393,35093,350
Revaluations9,1719,171
At 30 April 24102,521102,521
Net book value
At 30 April 24102,521102,521
At 30 April 2393,35093,350

Notes

1Other investments other than loans
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables18,3466,916
Other debtors8522,814
Prepayments and accrued income13,91313,285
Total33,11123,015
7.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts27,01124,933
Taxation and social security34,05221,068
Other creditors126,91920,311
Accrued liabilities and deferred income13,10910,573
Total201,09176,885
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.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts370,579397,590
Total370,579397,590
Bank loans included above are repayable by quarterly instalments at a rate of 3.25% above bank's base rate. No items are due for repayment after more than 5 years. The bank loans are secured by a charge on the freehold property.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)977620
Total977620
10.Related party transactions
During the year the director had a loan account with the company. At the balance sheet date the company owed the director £114,725 (2023: £20,311). This loan is unsecured, interest free and repayable upon demand