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FARNHAM PHYSIOTHERAPY AND SPORTS CLINIC LIMITED

Registered Number
07670563
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

FARNHAM PHYSIOTHERAPY AND SPORTS CLINIC LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Director

KUMAR, Suneel

Registered Address

20 Firgrove Hill
Farnham
GU9 8LQ

Registered Number

07670563 (England and Wales)
FARNHAM PHYSIOTHERAPY AND SPORTS CLINIC LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets373,50084,000
Tangible assets410,4278,209
83,92792,209
Current assets
Stocks5339-
Debtors612,18427,560
Cash at bank and on hand56,48127,668
69,00455,228
Creditors amounts falling due within one year7(82,688)(27,610)
Net current assets (liabilities)(13,684)27,618
Total assets less current liabilities70,243119,827
Creditors amounts falling due after one year8(3,569)(46,368)
Net assets66,67473,459
Capital and reserves
Called up share capital4242
Profit and loss account66,63273,417
Shareholders' funds66,67473,459
The financial statements were approved and authorised for issue by the Director on 22 March 2025, and are signed on its behalf by:
KUMAR, Suneel
Director
Registered Company No. 07670563
FARNHAM PHYSIOTHERAPY AND SPORTS CLINIC LIMITED
Notes to the Financial Statements
for the year ended 31 July 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.
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 policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently at cost less depreciation. Depreciation is provided on all tangible fixed assets as follows

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
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.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year43
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 August 23210,000210,000
At 31 July 24210,000210,000
Amortisation and impairment
At 01 August 23126,000126,000
Charge for year10,50010,500
At 31 July 24136,500136,500
Net book value
At 31 July 2473,50073,500
At 31 July 2384,00084,000
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 August 2322,7071,0171,96225,686
Additions5,050-3685,418
At 31 July 2427,7571,0172,33031,104
Depreciation and impairment
At 01 August 2314,9568671,65417,477
Charge for year3,07438883,200
At 31 July 2418,0309051,74220,677
Net book value
At 31 July 249,72711258810,427
At 31 July 237,7511503088,209
5.Stocks

2024

2023

££
Raw materials and consumables339-
Total339-
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables11,01612,125
Other debtors1,16815,435
Total12,18427,560
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables20,227-
Taxation and social security28,41820,969
Finance lease and HP contracts2,658-
Other creditors31,3854,777
Accrued liabilities and deferred income-1,864
Total82,68827,610
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,56946,368
Total3,56946,368
9.Obligations under finance leases
Obligations under finance leases are secured on the related assets. Minimum lease payments under non-cancellable leases fall due as follows: Due within one year: £2,658 (2023: Nil) Due after one year: £3,569 (2023: Nil)
10.Other commitments
LEASING AGREEMENTS: Minimum lease payments under non-cancellable operating leases fall due as follows: Due within one year: £20,000
11.Related party transactions
Included in creditors due in 12 months is the amount due to the directors £3,037 (2023:£4,777)