Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Dr R Piroozan 11/10/2017 Dr L Zdobnicka 11/10/2017 30 January 2025 The principal activity of the company continued to be that of a Chiropractor. 11007239 2024-03-31 11007239 bus:Director1 2024-03-31 11007239 bus:Director2 2024-03-31 11007239 2023-03-31 11007239 core:CurrentFinancialInstruments 2024-03-31 11007239 core:CurrentFinancialInstruments 2023-03-31 11007239 core:Non-currentFinancialInstruments 2024-03-31 11007239 core:Non-currentFinancialInstruments 2023-03-31 11007239 core:ShareCapital 2024-03-31 11007239 core:ShareCapital 2023-03-31 11007239 core:RetainedEarningsAccumulatedLosses 2024-03-31 11007239 core:RetainedEarningsAccumulatedLosses 2023-03-31 11007239 core:Goodwill 2023-03-31 11007239 core:Goodwill 2024-03-31 11007239 core:LandBuildings 2023-03-31 11007239 core:PlantMachinery 2023-03-31 11007239 core:Vehicles 2023-03-31 11007239 core:FurnitureFittings 2023-03-31 11007239 core:ComputerEquipment 2023-03-31 11007239 core:LandBuildings 2024-03-31 11007239 core:PlantMachinery 2024-03-31 11007239 core:Vehicles 2024-03-31 11007239 core:FurnitureFittings 2024-03-31 11007239 core:ComputerEquipment 2024-03-31 11007239 bus:OrdinaryShareClass1 2024-03-31 11007239 2023-04-01 2024-03-31 11007239 bus:FilletedAccounts 2023-04-01 2024-03-31 11007239 bus:SmallEntities 2023-04-01 2024-03-31 11007239 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11007239 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11007239 bus:Director1 2023-04-01 2024-03-31 11007239 bus:Director2 2023-04-01 2024-03-31 11007239 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 11007239 core:Goodwill 2023-04-01 2024-03-31 11007239 core:PlantMachinery 2023-04-01 2024-03-31 11007239 core:Vehicles 2023-04-01 2024-03-31 11007239 core:FurnitureFittings 2023-04-01 2024-03-31 11007239 core:ComputerEquipment core:TopRangeValue 2023-04-01 2024-03-31 11007239 2022-04-01 2023-03-31 11007239 core:LandBuildings 2023-04-01 2024-03-31 11007239 core:ComputerEquipment 2023-04-01 2024-03-31 11007239 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 11007239 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 11007239 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11007239 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11007239 (England and Wales)

MOURY CLINIC LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

MOURY CLINIC LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

MOURY CLINIC LTD

BALANCE SHEET

AS AT 31 MARCH 2024
MOURY CLINIC LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 38,057 41,390
Tangible assets 4 507,024 381,830
545,081 423,220
Current assets
Debtors 5 133,645 14,304
Cash at bank and in hand 36,209 182,702
169,854 197,006
Creditors: amounts falling due within one year 6 ( 141,423) ( 85,101)
Net current assets 28,431 111,905
Total assets less current liabilities 573,512 535,125
Creditors: amounts falling due after more than one year 7 ( 219,628) ( 169,661)
Provision for liabilities ( 36,888) ( 48,632)
Net assets 316,996 316,832
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 316,994 316,830
Total shareholders' funds 316,996 316,832

For the financial year ending 31 March 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 Moury Clinic Ltd (registered number: 11007239) were approved and authorised for issue by the Board of Directors on 30 January 2025. They were signed on its behalf by:

Dr R Piroozan
Director
MOURY CLINIC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
MOURY CLINIC LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 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

Moury Clinic Ltd 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 13 Salvia Close, St. Mellons, Cardiff, CF3 0JF, Wales, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 15 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 15 years.

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 or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 4 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

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

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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 50,000 50,000
At 31 March 2024 50,000 50,000
Accumulated amortisation
At 01 April 2023 8,610 8,610
Charge for the financial year 3,333 3,333
At 31 March 2024 11,943 11,943
Net book value
At 31 March 2024 38,057 38,057
At 31 March 2023 41,390 41,390

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 April 2023 185,266 138,524 113,898 6,539 18,556 462,783
Additions 127,726 0 51,990 0 3,774 183,490
Disposals 0 ( 849) 0 0 ( 8,715) ( 9,564)
At 31 March 2024 312,992 137,675 165,888 6,539 13,615 636,709
Accumulated depreciation
At 01 April 2023 0 51,500 16,610 2,671 10,172 80,953
Charge for the financial year 0 21,756 28,654 967 3,560 54,937
Disposals 0 ( 557) 0 0 ( 5,648) ( 6,205)
At 31 March 2024 0 72,699 45,264 3,638 8,084 129,685
Net book value
At 31 March 2024 312,992 64,976 120,624 2,901 5,531 507,024
At 31 March 2023 185,266 87,024 97,288 3,868 8,384 381,830

5. Debtors

2024 2023
£ £
Corporation tax 31,713 3,046
Other debtors 101,932 11,258
133,645 14,304

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 16,671 11,874
Taxation and social security 101,477 52,801
Obligations under finance leases and hire purchase contracts 18,302 7,162
Other creditors 4,973 13,264
141,423 85,101

Obligations under finance leases and hire purchase contracts are secured over the related assets.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 122,484 92,635
Obligations under finance leases and hire purchase contracts 97,144 77,026
219,628 169,661

Obligations under finance leases and hire purchase contracts are secured over the related assets.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due (to) / from the Director 93,965 9,026

During the year there were advances to the directors totalling £313,256 and repayments totalling £231,279. The balance is unsecured and has no fixed repayment terms. Interest is charged at 2%.