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COMPANY REGISTRATION NUMBER: 07384298
NJB Physiotherapy Limited
Filleted Unaudited Financial Statements
30 September 2024
NJB Physiotherapy Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
NJB Physiotherapy Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of NJB Physiotherapy Limited
Year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NJB Physiotherapy Limited for the year ended 30 September 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of NJB Physiotherapy Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of NJB Physiotherapy Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NJB Physiotherapy Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that NJB Physiotherapy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NJB Physiotherapy Limited. You consider that NJB Physiotherapy Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of NJB Physiotherapy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BSN ASSOCIATES LIMITED Chartered accountants
3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG
11 March 2025
NJB Physiotherapy Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,119
3,670
Current assets
Debtors
6
16,000
16,947
Cash at bank and in hand
78,149
61,022
--------
--------
94,149
77,969
Creditors: amounts falling due within one year
7
60,135
64,967
--------
--------
Net current assets
34,014
13,002
--------
--------
Total assets less current liabilities
37,133
16,672
Creditors: amounts falling due after more than one year
8
12,963
15,741
Provisions
Taxation including deferred tax
721
773
--------
--------
Net assets
23,449
158
--------
--------
NJB Physiotherapy Limited
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
23,349
58
--------
----
Shareholders funds
23,449
158
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 March 2025 , and are signed on behalf of the board by:
J Barnes
N Jones
Director
Director
Company registration number: 07384298
NJB Physiotherapy Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3B Swallowfield Courtyard, Wolverhampton Road, Oldbury, B69 2JG, West Midlands. The trading address of the business is Oaktree House, Oaktree Rise, Codsall, Wolverhampton, WV8 1DP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 October 2023 and 30 September 2024
21,232
21,232
--------
--------
Depreciation
At 1 October 2023
17,562
17,562
Charge for the year
551
551
--------
--------
At 30 September 2024
18,113
18,113
--------
--------
Carrying amount
At 30 September 2024
3,119
3,119
--------
--------
At 30 September 2023
3,670
3,670
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
15,904
16,854
Prepayments and accrued income
96
93
--------
--------
16,000
16,947
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,778
2,778
Trade creditors
57
66
Accruals and deferred income
4,627
4,326
Corporation tax
30,548
23,614
Social security and other taxes
632
766
Director loan accounts
21,361
33,417
Other creditors
132
--------
--------
60,135
64,967
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,963
15,741
--------
--------
Included within creditors falling due after one year is a bounce back loan of £12,963 of which £1,665 is repayable after five years by installments.
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
18,000
18,000
--------
--------
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
J Barnes
( 16,060)
40,424
( 37,971)
( 13,607)
N Jones
( 17,357)
50,992
( 41,389)
( 7,754)
--------
--------
--------
--------
( 33,417)
91,416
( 79,360)
( 21,361)
--------
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
J Barnes
4,132
56,548
( 76,740)
( 16,060)
N Jones
6,195
71,903
( 95,455)
( 17,357)
--------
---------
---------
--------
10,327
128,451
( 172,195)
( 33,417)
--------
---------
---------
--------
12. Related party transactions
From 23rd January 2023 the company operated from premises owned by James Hay Partnership SIPP for Mr M J Barnes and Mr N C Jones pension scheme, with rent of £17,807 (2023 : £11,959) being paid by the company.