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Company No: 10739391 (England and Wales)

QUANTUM CHIROPRACTIC LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

QUANTUM CHIROPRACTIC LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

QUANTUM CHIROPRACTIC LIMITED

BALANCE SHEET

As at 30 April 2024
QUANTUM CHIROPRACTIC LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 66,783 81,041
66,783 81,041
Current assets
Stocks 4 5,731 5,367
Debtors 5 87,042 106,615
Cash at bank and in hand 19,218 19,643
111,991 131,625
Creditors: amounts falling due within one year 6 ( 111,779) ( 117,423)
Net current assets 212 14,202
Total assets less current liabilities 66,995 95,243
Provision for liabilities ( 4,894) ( 6,193)
Net assets 62,101 89,050
Capital and reserves
Called-up share capital 100 100
Profit and loss account 62,001 88,950
Total shareholder's funds 62,101 89,050

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Quantum Chiropractic Limited (registered number: 10739391) were approved and authorised for issue by the Board of Directors on 30 January 2025. They were signed on its behalf by:

J J Smith
Director
QUANTUM CHIROPRACTIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
QUANTUM CHIROPRACTIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Quantum Chiropractic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 53 Lagland Street, Poole, Dorset, BH15 1QD, England.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 8

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 May 2023 69,696 40,132 28,849 15,576 154,253
Additions 0 0 439 263 702
At 30 April 2024 69,696 40,132 29,288 15,839 154,955
Accumulated depreciation
At 01 May 2023 20,048 29,847 16,453 6,864 73,212
Charge for the financial year 6,969 2,571 3,182 2,238 14,960
At 30 April 2024 27,017 32,418 19,635 9,102 88,172
Net book value
At 30 April 2024 42,679 7,714 9,653 6,737 66,783
At 30 April 2023 49,648 10,285 12,396 8,712 81,041

4. Stocks

2024 2023
£ £
Stocks 5,731 5,367

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 23,639 98,714
Other debtors 63,403 7,901
87,042 106,615

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,815 10,407
Amounts owed to Group undertakings 0 100
Taxation and social security 21,768 12,838
Other creditors 80,196 94,078
111,779 117,423

7. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 0 17,500

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Key Management 43,452 0

Interest has been charged on the overdrawn directors loan account as per applicable HMRC rates.

9. Ultimate controlling party

Parent Company:

JJS Hold Trading Limited
Towngate House, 2-8 Parkstone Road, Poole, Dorset, BH15 2PW.