REGISTERED NUMBER: 02853100 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Physio Med Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R C Clayton

M C Fletcher

J J Fletcher

P S Wimpenny

SECRETARY:

J J Fletcher

REGISTERED OFFICE:

Chartered House

Gelderd Road

Wortley

Leeds

West Yorkshire

LS12 6DT

REGISTERED NUMBER:

02853100 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

FIXED ASSETS

Intangible assets

4

59,813

-

Tangible assets

5

13,699

18,590

Investments

6

9,956

10,973

83,468

29,563

CURRENT ASSETS

Debtors

7

1,659,221

1,722,344

Cash at bank and in hand

556,745

355,868

2,215,966

2,078,212

CREDITORS

Amounts falling due within one year

8

338,766

337,867

NET CURRENT ASSETS

1,877,200

1,740,345

TOTAL ASSETS LESS CURRENT LIABILITIES

1,960,668

1,769,908

CREDITORS

Amounts falling due after more than one year

9

(4,199

)

(14,199

)

PROVISIONS FOR LIABILITIES

(3,425

)

(4,648

)

NET ASSETS

1,953,044

1,751,061

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,952,944

1,750,961

SHAREHOLDERS' FUNDS

1,953,044

1,751,061

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 directors acknowledge their 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 Board of Directors and authorised for issue on 8 December 2025 and were signed on its behalf by:

J J Fletcher - Director

1.	STATUTORY INFORMATION

Physio Med 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts chargeable to clients for professional services provided during the year. Turnover is recognised upon the completion of the service when the obligation to pay becomes due.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 balance sheet date.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 in respect of directors and employees. Contributions payable to the company's pension scheme are charged to profit or loss in the period in which they are defrayed.

Fixed asset investments

Fixed asset investments are recognised at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

20,000

-

20,000

Additions

-

74,766

74,766

At 31 December 2024

20,000

74,766

94,766

AMORTISATION

At 1 January 2024

20,000

-

20,000

Charge for year

-

14,953

14,953

At 31 December 2024

20,000

14,953

34,953

NET BOOK VALUE

At 31 December 2024

-

59,813

59,813

At 31 December 2023

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

8,804

55,225

64,376

128,405

Additions

-

529

-

529

At 31 December 2024

8,804

55,754

64,376

128,934

DEPRECIATION

At 1 January 2024

7,801

51,573

50,441

109,815

Charge for year

551

1,386

3,483

5,420

At 31 December 2024

8,352

52,959

53,924

115,235

NET BOOK VALUE

At 31 December 2024

452

2,795

10,452

13,699

At 31 December 2023

1,003

3,652

13,935

18,590

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

10,973

Additions

946

Revaluations

(1,963

)

At 31 December 2024

9,956

NET BOOK VALUE

At 31 December 2024

9,956

At 31 December 2023

10,973

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2017

3,708

Valuation in 2018

(4,966

)

Valuation in 2019

2,356

Valuation in 2020

271

Valuation in 2021

(3,674

)

Valuation in 2022

(528

)

Valuation in 2023

(3,325

)

Valuation in 2024

(1,963

)

Cost

18,077

9,956

7.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

362,175

446,027

Other debtors

1,181,360

1,177,728

1,543,535

1,623,755

Amounts falling due after more than one year:

Other debtors

115,686

98,589

Aggregate amounts

1,659,221

1,722,344

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

136,863

145,687

Taxation and social security

166,520

163,652

Other creditors

25,383

18,528

338,766

337,867

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,199

14,199

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

116,022

112,103

Between one and five years

15,249

-

131,271

112,103

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

J J Fletcher

Balance outstanding at start of year

90,877

83,171

Amounts advanced

13,588

7,706

Amounts repaid

(312

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

104,153

90,877

P R C Clayton

Balance outstanding at start of year

105,102

94,567

Amounts advanced

21,415

10,535

Amounts repaid

(312

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

126,205

105,102

M C Fletcher

Balance outstanding at start of year

106,191

93,688

Amounts advanced

16,589

12,503

Amounts repaid

(312

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

122,468

106,191

These loans are repayable on demand.