Company No: 08593091 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	210,156		241,956
		210,156		241,956
Current assets
Stocks	5	12,986		10,655
Debtors	6	82,471		352,398
Cash at bank and in hand		7,156		80,612
		102,613		443,665
Creditors: amounts falling due within one year	7	( 195,391)		( 213,827)
Net current (liabilities)/assets		(92,778)		229,838
Total assets less current liabilities		117,378		471,794
Creditors: amounts falling due after more than one year	8	( 57,387)		( 98,955)
Provision for liabilities		( 28,943)		( 35,803)
Net assets		31,048		337,036
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		30,948		336,936
Total shareholder's funds		31,048		337,036

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Spineworks Chiropractic Ltd (registered number: 08593091) were approved and authorised for issue by the Director on 17 December 2025. They were signed on its behalf by:

Dr Luc Archambault Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Spineworks Chiropractic Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 236 Kennington Park Road, London, SE11 4DA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net current liabilities of £92,778. The Company is supported through bank loans. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements	8 - 15 years straight line
Plant and machinery	15 % reducing balance
Vehicles	15 % reducing balance
Office equipment	15 % reducing balance
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		7

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	10,000		10,000
At 31 March 2025	10,000		10,000
Accumulated amortisation
At 01 April 2024	10,000		10,000
At 31 March 2025	10,000		10,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	156,510		117,280		3,849		75,027		25,369		378,035
Additions	0		0		2,000		2,700		1,298		5,998
Disposals	0		0		( 3,849)		0		0		( 3,849)
At 31 March 2025	156,510		117,280		2,000		77,727		26,667		380,184
Accumulated depreciation
At 01 April 2024	41,276		69,106		1,450		21,051		3,196		136,079
Charge for the financial year	13,731		7,226		275		8,585		5,732		35,549
Disposals	0		0		( 1,600)		0		0		( 1,600)
At 31 March 2025	55,007		76,332		125		29,636		8,928		170,028
Net book value
At 31 March 2025	101,503		40,948		1,875		48,091		17,739		210,156
At 31 March 2024	115,234		48,174		2,399		53,976		22,173		241,956

5. Stocks

	2025		2024
	£		£
Stocks	12,986		10,655

6. Debtors

	2025		2024
	£		£
Amounts owed by director	66,961		319,025
Prepayments	13,051		18,422
Other debtors	2,459		14,951
	82,471		352,398

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	2,646		0
Trade creditors	28,651		32,403
Other loans	41,690		41,228
Accruals and deferred income	74,951		94,737
Taxation and social security	34,370		33,328
Obligations under finance leases and hire purchase contracts	0		1,528
Other creditors	13,083		10,603
	195,391		213,827

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	54,687		85,937
Other loans	2,700		13,018
	57,387		98,955

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Financial commitments

Other financial commitments

	2025		2024
	£		£
Within one year	46,000		66,000
After one year	230,000		230,000
After five years	368,000		414,000
	644,000		710,000

At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases as above.

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	2,174		2,340

11. Related party transactions

Transactions with the entity's director

At the end of the year, there was a balance of £66,961 owed by the Director (2024: £319,025). This amount is included within debtors. Interest has been charged on this balance at 2.25% pa.

During the year, the director received dividends totalling £386,525 (2024: £90,000).