SOUTH HAMS PHYSIO LTD


Director	Nicola Michelle Smith


Company Secretary	Andrew Nigel Rich


Registered Address	118 Blachford Road
	Ivybridge
	PL21 0AE


Registered Number	07575872 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		28,979		3,694
			28,979		3,694
Current assets
Stocks	4	18,776		15,173
Debtors	5	218,762		229,436
Cash at bank and on hand		16,559		24,313
		254,097		268,922
Creditors amounts falling due within one year	6	(39,844)		(69,408)
Net current assets (liabilities)			214,253		199,514
Total assets less current liabilities			243,232		203,208
Creditors amounts falling due after one year	7		(2,500)		(8,500)
Provisions for liabilities	8		(7,679)		(979)
Net assets			233,053		193,729
Capital and reserves
Called up share capital			101		101
Profit and loss account			232,952		193,628
Shareholders' funds			233,053		193,729

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 5 August 2025, and are signed on its behalf by:

Nicola Michelle Smith
Director
Registered Company No. 07575872

SOUTH HAMS PHYSIO LTD

Notes to the Financial Statements
for the year ended 31 March 2025

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.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting 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.

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	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.

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		4

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 24	-	7,725	26,510	2,772	5,502	42,509
Additions	20,729	-	-	-	6,298	27,027
At 31 March 25	20,729	7,725	26,510	2,772	11,800	69,536
Depreciation and impairment
At 01 April 24	-	7,153	23,856	2,304	5,502	38,815
Charge for year	155	114	664	94	715	1,742
At 31 March 25	155	7,267	24,520	2,398	6,217	40,557
Net book value
At 31 March 25	20,574	458	1,990	374	5,583	28,979
At 31 March 24	-	572	2,654	468	-	3,694

4.	Stocks

	2025	2024
	£	£
Work in progress	18,776	15,173
Total	18,776	15,173

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	247	2,658
Other debtors	218,111	226,268
Prepayments and accrued income	404	510
Total	218,762	229,436

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	1,373	1,518
Bank borrowings and overdrafts	6,000	6,000
Taxation and social security	30,296	28,662
Other creditors	-	29,750
Accrued liabilities and deferred income	2,175	3,478
Total	39,844	69,408

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	2,500	8,500
Total	2,500	8,500

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	7,679	979
Total	7,679	979

9.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Nicola Michelle Smith	176,743	57,599	73,339	161,003
Directors loan account
	176,743	57,599	73,339	161,003