ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 08732855

Firefly Foot and Ankle Clinic. Ltd

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

Firefly Foot and Ankle Clinic. Ltd

Registered number: 08732855

Balance Sheet

As at 31 December 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		27,984		30,650
			27,984		30,650
Current assets
Debtors	5	38,208		19,223
Cash at bank and in hand		45,082		47,031
		83,290		66,254
Creditors: amounts falling due within one year	6	(53,739)		(78,273)
Net current assets/(liabilities)			29,551		(12,019)
Total assets less current liabilities			57,535		18,631
Creditors: amounts falling due after more than one year	7		(4,112)		(14,707)
Provisions for liabilities
Deferred tax	9	(4,741)		(7,663)
			(4,741)		(7,663)
Net assets/(liabilities)			48,682		(3,739)

Capital and reserves
Called up share capital	2	2
Profit and loss account	48,680	(3,741)
	48,682	(3,739)

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Firefly Foot and Ankle Clinic. Ltd

Registered number: 08732855

Balance Sheet (continued)

As at 31 December 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.

Martin Mc Geough

Director

The notes on pages 3 to 9 form part of these financial statements.

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Firefly Foot and Ankle Clinic. Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

1.	General information

Firefly Foot and Ankle Clinic. Ltd is a private limited company limited by shares incorporated in the United Kingdom. The registration number and address of the registered office are given in the company information section of these financial statements.
The presentation currency is that of Sterling (£).

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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Firefly Foot and Ankle Clinic. Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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Firefly Foot and Ankle Clinic. Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.7

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Motor vehicles	-	25%	Straight Line Method
				Office equipment	-	20%	Straight Line Method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 3).

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Firefly Foot and Ankle Clinic. Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

4.	Tangible fixed assets

	Motor vehicles	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	90,161	18,431	108,592
Additions	11,000	19,138	30,138
Disposals	(90,161)	-	(90,161)
At 31 December 2024	11,000	37,569	48,569
Depreciation
At 1 January 2024	67,621	10,321	77,942
Charge for the year on owned assets	-	7,514	7,514
Charge for the year on financed assets	2,750	-	2,750
Disposals	(67,621)	-	(67,621)
At 31 December 2024	2,750	17,835	20,585
Net book value
At 31 December 2024	8,250	19,734	27,984
At 31 December 2023	22,540	8,110	30,650

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2024	2023
	£	£


Motor vehicles	-	22,540
	-	22,540

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Firefly Foot and Ankle Clinic. Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

Debtors

					2024	2023
					£	£



Trade debtors	17,378	6,895
Other debtors	20,830	12,328
	38,208	19,223

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank loans	10,648	10,158
Trade creditors	4,548	1,440
Amounts owed to group undertakings	-	1,117
Corporation tax	32,014	7,213
Other taxation and social security	5,059	3,790
Obligations under finance lease and hire purchase contracts	-	53,175
Accruals and deferred income	1,470	1,380
	53,739	78,273

7.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	4,112	14,707
	4,112	14,707

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Firefly Foot and Ankle Clinic. Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

Amounts falling due within one year
Bank loans	10,648	10,158
	10,648	10,158
Amounts falling due 1-2 years
Bank loans	4,112	14,707
	4,112	14,707


	14,760	24,865

9.	Deferred taxation

		2024
		£

	At beginning of year	(7,663)
	Charged to profit or loss	2,922
	At end of year	(4,741)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

	Accelerated capital allowances	(4,741)	(7,663)
		(4,741)	(7,663)

10.	Related party transactions
	During the year, loans amounting to £20,830 were advanced to the Directors. These loans were interest-free and repayable on demand

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Firefly Foot and Ankle Clinic. Ltd

Notes to the Financial Statements

For the Year Ended 31 December 2024

11.	Controlling party

The company is under the control of the directors.

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