Company registration number 12270979 (England and Wales)
Briganti Physiotherapy Ltd
Unaudited financial statements
For the year ended 31 October 2024
Briganti Physiotherapy Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Briganti Physiotherapy Ltd
Statement of financial position
As at 31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,329
1,564
Current assets
Debtors
5
8,284
Cash at bank and in hand
2,087
2,719
10,371
2,719
Creditors: amounts falling due within one year
6
(10,294)
(7,035)
Net current assets/(liabilities)
77
(4,316)
Net assets/(liabilities)
1,406
(2,752)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
1,404
(2,754)
Total equity
1,406
(2,752)
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 16 June 2025 and are signed on its behalf by:
Mr N Briganti
Director
Company registration number 12270979 (England and Wales)
Briganti Physiotherapy Ltd
Notes to the financial statements
For the year ended 31 October 2024
- 2 -
1
Accounting policies
Company information
Briganti Physiotherapy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 24 Beverley Drive, Clitheroe, BB7 1HY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises the aggregate of the fair value of the sale of goods and services provided, net of rebates and discounts. Revenue is recognised as follows:-
Sale of services
Service revenues are recognised as those services that are provided to customers.
1.3
Tangible fixed assets
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
15% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
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 statement of financial position 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.
Briganti Physiotherapy Ltd
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 3 -
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 amortised 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 amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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 amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Briganti Physiotherapy Ltd
Notes to the financial statements (continued)
For the year ended 31 October 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
1.6
Leases
Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.
1.7
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.
2
Judgements and key sources of estimation uncertainty
There are currently no significant judgements and estimates applied by the directors which are considered key to the preparation of the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 2
2024
2023
Number
Number
Total
2
2
Briganti Physiotherapy Ltd
Notes to the financial statements (continued)
For the year ended 31 October 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 and 31 October 2024
3,199
Depreciation and impairment
At 1 November 2023
1,635
Depreciation charged in the year
235
At 31 October 2024
1,870
Carrying amount
At 31 October 2024
1,329
At 31 October 2023
1,564
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
8,284
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
6,695
4,632
Other creditors
3,599
2,403
10,294
7,035
7
Directors' transactions
Included within debtors due within one year is a director's loan account balance of £4,276. The advance is unsecured, repayable on demand and interest free. The maximum overdrawn balance in the year was £29,963.
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr N Briganti
-
(403)
39,991
(35,312)
4,276
(403)
39,991
(35,312)
4,276