Physiobase.com Limited Filleted accounts for Companies House (small and micro)

PHYSIOBASE.COM LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03924478

PHYSIOBASE.COM LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 June 2019

PHYSIOBASE.COM LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2019

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

PHYSIOBASE.COM LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mr R Bolton
	Miss C Pancho

Registered office	Ground Floor
	63 Linden Gardens
	London
	W2 4HJ

Accountants	BSG Valentine (UK) LLP
	Chartered Accountants
	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

PHYSIOBASE.COM LIMITED

STATEMENT OF FINANCIAL POSITION

30 June 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Tangible assets	4		1,117		1,687

Current assets

Debtors	5	32,893	24,115
Cash at bank and in hand		67,050	60,395
		--------	--------
		99,943	84,510

Creditors: amounts falling due within one year	6	( 40,356)		( 19,654)
		--------		--------
Net current assets			59,587		64,856
			--------		--------
Total assets less current liabilities			60,704		66,543
			--------		--------

Capital and reserves

Called up share capital	173	173
Share premium account	547,588	547,588
Profit and loss account	( 487,057)	( 481,218)
	---------	---------
Shareholders funds	60,704	66,543
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

PHYSIOBASE.COM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 June 2019

These financial statements were approved by the board of directors and authorised for issue on 20 March 2020 , and are signed on behalf of the board by:

Mr R Bolton

Director

Company registration number: 03924478

PHYSIOBASE.COM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor, 63 Linden Gardens, London, W2 4HJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 July 2018	8,905	8,905
Other movements	21,713	21,713
	--------	--------
At 30 June 2019	30,618	30,618
	--------	--------
Depreciation
At 1 July 2018	7,218	7,218
Charge for the year	372	372
Other movements	21,911	21,911
	--------	--------
At 30 June 2019	29,501	29,501
	--------	--------
Carrying amount
At 30 June 2019	1,117	1,117
	--------	--------
At 30 June 2018	1,687	1,687
	--------	--------

5. Debtors

	2019	2018
	£	£
Other debtors	32,893	24,115
	--------	--------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	–	17
Trade creditors	37,135	17,095
Social security and other taxes	3,076	2,397
Other creditors	145	145
	--------	--------
	40,356	19,654
	--------	--------

7. Directors' advances, credits and guarantees

At the balance sheet date the director was owed £145 by the company (2018: £145). This loan is unsecured, short-term and bears no interest.

8. Related party transactions

At the balance sheet date, the company was owed £ 15,500 (2018:£15,500) by RehabBrain Limited . RehabBrain Limited is a company registered in England and Wales and shares the same director as the company. At the balance sheet date, the company was owed £ 16,500 (2018:£8,000) by Physiobobs Jobs Limited. Physiobobs Jobs Limited is a company registered in England and Wales and shares the same director as the company.

9. Controlling party

The company was under the control of Mr R Bolton throughout the current and previous year. Mr R Bolton is the managing director and together with the company Performance Physio Limited is the majority shareholder.