2023-03-012024-02-292024-02-29false07184949THE FOREST PODIATRY AND PHYSIOTHERAPY CLINIC 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THE FOREST PODIATRY AND PHYSIOTHERAPY CLINIC LIMITED

Registered Number
07184949
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

THE FOREST PODIATRY AND PHYSIOTHERAPY CLINIC LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

GILLINGHAM, C
GILLINGHAM, J

Registered Address

1 The Parade
Southampton Road
Cadnam
SO40 2NG

Registered Number

07184949 (England and Wales)
THE FOREST PODIATRY AND PHYSIOTHERAPY CLINIC LIMITED
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets422,71226,446
Tangible assets520,14831,215
42,86057,661
Current assets
Stocks611,72512,000
Debtors127,688115,079
Cash at bank and on hand24,92448
164,337127,127
Creditors amounts falling due within one year7(76,922)(79,955)
Net current assets (liabilities)87,41547,172
Total assets less current liabilities130,275104,833
Creditors amounts falling due after one year8(10,000)(20,624)
Provisions for liabilities9(6,048)(6,048)
Net assets114,22778,161
Capital and reserves
Called up share capital100100
Profit and loss account114,12778,061
Shareholders' funds114,22778,161
The financial statements were approved and authorised for issue by the Board of Directors on 5 February 2025, and are signed on its behalf by:
GILLINGHAM, C
Director
Registered Company No. 07184949
THE FOREST PODIATRY AND PHYSIOTHERAPY CLINIC LIMITED
Notes to the Financial Statements
for the year ended 29 February 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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be twenty years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year45
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 2374,66574,665
At 29 February 2474,66574,665
Amortisation and impairment
At 01 March 2348,21948,219
Charge for year3,7333,733
Other movements11
At 29 February 2451,95351,953
Net book value
At 29 February 2422,71222,712
At 28 February 2326,44626,446
5.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 March 2363,84415,75279,596
Additions1,936-1,936
Revaluations1-1
At 29 February 2465,78115,75281,533
Depreciation and impairment
At 01 March 2332,67215,70948,381
Charge for year12,9713413,005
Other adjustments-(1)(1)
At 29 February 2445,64315,74261,385
Net book value
At 29 February 2420,1381020,148
At 28 February 2331,1724331,215
6.Stocks

2024

2023

££
Other stocks11,72512,000
Total11,72512,000
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables12,6225,891
Bank borrowings and overdrafts34,15857,168
Taxation and social security16,3045,912
Accrued liabilities and deferred income13,83810,984
Total76,92279,955
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,00020,624
Total10,00020,624
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)6,0486,048
Total6,0486,048
10.Operating lease commitments
At 29th February 2024 (Company year end), the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £24,000 due in less than one year and £96,000 due in more than one year. (2023 – £24,000 less than one year and £120,000 due in more than one year.)
11.Parent-subsidiary relationships
The company is a wholly owned subsidiary of New Milton Foot Clinic Limited whose registered office and principal place of trading is at Parkland Place 39-41 Old Milton Road New Milton Hampshire BH25 6DJ The Company has opted not to produce group accounts.