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 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		27,360		28,979
			27,360		28,979
Current assets
Stocks	4	18,965		18,776
Debtors	5	310,632		218,762
Cash at bank and on hand		12,733		16,559
		342,330		254,097
Creditors amounts falling due within one year	6	(75,126)		(39,844)
Net current assets (liabilities)			267,204		214,253
Total assets less current liabilities			294,564		243,232
Creditors amounts falling due after one year	7		-		(2,500)
Provisions for liabilities	8		(7,250)		(7,679)
Net assets			287,314		233,053
Capital and reserves
Called up share capital			103		102
Profit and loss account			287,211		232,951
Shareholders' funds			287,314		233,053

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 14 July 2026, 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 2026

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:


	Reducing balance (%)	Straight line (years)
Plant and machinery	20	-
Fixtures and fittings	20	-
Vehicles	25	-
Office Equipment	-	3

	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


		2026		2025
	Average number of employees during the year	5		4

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 April 25	20,729	7,725	26,510	2,772	11,800	69,536
Additions	-	-	-	-	1,535	1,535
At 31 March 26	20,729	7,725	26,510	2,772	13,335	71,071
Depreciation and impairment
At 01 April 25	156	7,267	24,520	2,398	6,216	40,557
Charge for year	411	92	498	75	2,078	3,154
At 31 March 26	567	7,359	25,018	2,473	8,294	43,711
Net book value
At 31 March 26	20,162	366	1,492	299	5,041	27,360
At 31 March 25	20,573	458	1,990	374	5,584	28,979

4.	Stocks

	2026	2025
	£	£
Work in progress	18,965	18,776
Total	18,965	18,776

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	2,818	247
Other debtors	307,214	218,111
Prepayments and accrued income	600	404
Total	310,632	218,762

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	9,109	1,373
Bank borrowings and overdrafts	2,500	6,000
Taxation and social security	62,506	30,296
Accrued liabilities and deferred income	1,011	2,175
Total	75,126	39,844

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	-	2,500
Total	-	2,500

8.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	7,250	7,679
Total	7,250	7,679

9.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Nicola Michelle Smith	161,003	101,419	32,790	229,632
Directors loan account
	161,003	101,419	32,790	229,632

10.	Related party transactions
	At the financial year end, Andrew Rich owed the company £8,477 (2025 - £12,689). At the financial year end, the company owed William Rich £7,400 (2025 - £0).