Registered number
15274871
MEDXPHYSIO LIMITED
Filleted Accounts
30 November 2024
MEDXPHYSIO LIMITED
Registered number: 15274871
Balance Sheet
as at 30 November 2024
Notes 2024
£
Fixed assets
Intangible assets 3 6,345
Tangible assets 4 10,021
16,366
Current assets
Debtors 5 2,948
Cash at bank and in hand 4,998
7,946
Creditors: amounts falling due within one year 6 (8,302)
Net current liabilities (356)
Total assets less current liabilities 16,010
Creditors: amounts falling due after more than one year 7 (8,746)
Net assets 7,264
Capital and reserves
Called up share capital 100
Profit and loss account 7,164
Shareholder's funds 7,264
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr R Mirea
Director
Approved by the board on 13 March 2025
MEDXPHYSIO LIMITED
Notes to the Accounts
for the period from 10 November 2023 to 30 November 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Website Over 10 years
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 and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Intangible fixed assets £
Website:
Cost
Additions 7,050
At 30 November 2024 7,050
Amortisation
Provided during the period 705
At 30 November 2024 705
Net book value
At 30 November 2024 6,345
Website is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 13,362
At 30 November 2024 13,362
Depreciation
Charge for the period 3,341
At 30 November 2024 3,341
Net book value
At 30 November 2024 10,021
5 Debtors 2024
£
Prepayments 1,798
Rent deposit 1,150
2,948
6 Creditors: amounts falling due within one year 2024
£
Bank loans and overdrafts 2,385
Director's loan account 4,838
Accrued expenses 900
Other creditors 179
8,302
7 Creditors: amounts falling due after one year 2024
£
Bank loans 8,746
8 Controlling party
The ultimate controlling party is Mr R Mirea. His control comes by the virtue of shareholding and day to day running of the business.
9 Other information
MEDXPHYSIO LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
94a Haldens
Welwyn Garden City
England
AL7 1DD
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