REGISTERED NUMBER: 02624491 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Physioneeds Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Miss A O Tomlinson

SECRETARY:

S T Squires

REGISTERED OFFICE:

8 The Ringway

Queniborough

Leicester

Leicestershire

LE7 3DL

REGISTERED NUMBER:

02624491 (England and Wales)

ACCOUNTANTS:

The Profit Key Limited

Prince William House

10 Lower Church Street

Ashby de la Zouch

Leicestershire

LE65 1AB

BANKERS:

HSBC

26 Clumber Street

Nottingham

Nottinghamshire

NG1 3GA

FIXED ASSETS

Tangible assets

4

143,115

153,429

CURRENT ASSETS

Stocks

400

400

Debtors

5

195,169

7,015

Cash at bank and in hand

83,338

29,479

278,907

36,894

CREDITORS

Amounts falling due within one year

6

171,750

149,439

NET CURRENT ASSETS/(LIABILITIES)

107,157

(112,545

)

TOTAL ASSETS LESS CURRENT LIABILITIES

250,272

40,884

CREDITORS

Amounts falling due after more than one year

7

(202,442

)

(15,451

)

PROVISIONS FOR LIABILITIES

(1,363

)

(1,719

)

NET ASSETS

46,467

23,714

CAPITAL AND RESERVES

Called up share capital

9

500

500

Retained earnings

45,967

23,214

SHAREHOLDERS' FUNDS

46,467

23,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

Miss A O Tomlinson - Director

1.	STATUTORY INFORMATION

Physioneeds Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

4% on cost

Improvements to property

-

4% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Loans from directors

Any loans for the directors to the company are interest free and repayable on demand.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2024

and 31 December 2024

192,679

3,200

25,670

DEPRECIATION

At 1 January 2024

53,949

896

14,257

Charge for year

7,707

128

2,283

At 31 December 2024

61,656

1,024

16,540

NET BOOK VALUE

At 31 December 2024

131,023

2,176

9,130

At 31 December 2023

138,730

2,304

11,413

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

4,684

847

227,080

DEPRECIATION

At 1 January 2024

3,702

847

73,651

Charge for year

196

-

10,314

At 31 December 2024

3,898

847

83,965

NET BOOK VALUE

At 31 December 2024

786

-

143,115

At 31 December 2023

982

-

153,429

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

10,523

3,736

Other debtors

2,736

3,279

Owed to related party

178,000

-

Prepayments

3,910

-

195,169

7,015

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

17,820

9,500

Trade creditors

1,381

229

Tax

38,526

31,055

Other creditors

149

75,127

Directors' current accounts

95,800

21,358

Accrued expenses

18,074

12,170

171,750

149,439

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

74,073

15,451

Bank loans more 5 yr by instal

128,369

-

202,442

15,451

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

128,369

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

220,262

24,951

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

400

Ordinary A-D shares

£1

400

400

500

500

10.	OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments totalling £13,423 over the remaining period of the lease.

11.	RELATED PARTY DISCLOSURES

The company is controlled by Squires Hold Limited.

During the year the company made a loan of £200,000 to Squires Holdco Limited - a company in which A Tomlinson is a director and shareholder. Also during the year a management charge of £22,000 was paid to Squires Holdco Limited. At the balance sheet date the amount due to Physioneeds Limited was £178,000. The loan is interest free and repayable on demand.