Registered number
12195062
The Therapy Company (UK) Ltd
Filleted Accounts
31 December 2024
The Therapy Company (UK) Ltd
Registered number: 12195062
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 25,000 30,000
Current assets
Work in progress 31,000 35,000
Debtors 4 133,534 -
Cash at bank and in hand 12,045 33,268
176,579 68,268
Creditors: amounts falling due within one year 5 (159,116) (73,750)
Net current assets/(liabilities) 17,463 (5,482)
Total assets less current liabilities 42,463 24,518
Creditors: amounts falling due after more than one year 6 (13,834) (24,632)
Net assets/(liabilities) 28,629 (114)
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,529 (214)
Shareholders' funds 28,629 (114)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Haroon Moosa
Director
Approved by the board on 5 March 2025
The Therapy Company (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
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).
Turnover
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 50,000
At 31 December 2024 50,000
Amortisation
At 1 January 2024 20,000
Provided during the year 5,000
At 31 December 2024 25,000
Net book value
At 31 December 2024 25,000
At 31 December 2023 30,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2024 2023
£ £
Other debtors TC Healthcare Ltd 133,534 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,481 9,732
Directors loan account 106,600 40,000
Taxation and social security costs 6,285 (9,200)
Accruals 35,750 31,718
Other creditors - 1,500
159,116 73,750
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,834 24,632
7 Other information
The Therapy Company (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9 Lockside Road
Lockside Office Park
Preston
Lancashire
PR2 SYS
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