The Foot and Ankle Clinic Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05230808 (England and Wales)

Financial Statements for the Year Ended 30 March 2020

for

The Foot and Ankle Clinic Ltd.

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

M L Herron

SECRETARY:

J A Herron

REGISTERED OFFICE:

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

REGISTERED NUMBER:

05230808 (England and Wales)

ACCOUNTANTS:

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Foot and Ankle Clinic Ltd. for the year ended 30 March 2020 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of The Foot and Ankle Clinic Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Foot and Ankle Clinic Ltd. and state those matters that we have agreed to state to the director of The Foot and Ankle Clinic Ltd. in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that The Foot and Ankle Clinic Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Foot and Ankle Clinic Ltd.. You consider that The Foot and Ankle Clinic Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Foot and Ankle Clinic Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

15 December 2020

FIXED ASSETS

Intangible assets

4

190,001

200,001

Property, plant and equipment

5

3,766

5,160

193,767

205,161

CURRENT ASSETS

Debtors

6

41,324

213,283

Cash at bank

30,252

-

71,576

213,283

CREDITORS

Amounts falling due within one year

7

158,051

256,949

NET CURRENT LIABILITIES

(86,475

)

(43,666

)

TOTAL ASSETS LESS CURRENT LIABILITIES

107,292

161,495

PROVISIONS FOR LIABILITIES

8

716

980

NET ASSETS

106,576

160,515

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

106,476

160,415

SHAREHOLDERS' FUNDS

106,576

160,515

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 December 2020 and were signed by:

M L Herron - Director

1.	STATUTORY INFORMATION

The Foot and Ankle Clinic Ltd. 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.

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

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Patents and licences

Patents and licences are fully amortised.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives, on a reducing balance or cost basis.

Depreciation is provided on the following basis:

Equipment

-

15%

on reducing balance

Fixtures and fittings

-

20%

on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 31 March 2019

and 30 March 2020

700,003

2,925

702,928

AMORTISATION

At 31 March 2019

500,002

2,925

502,927

Amortisation for year

10,000

-

10,000

At 30 March 2020

510,002

2,925

512,927

NET BOOK VALUE

At 30 March 2020

190,001

-

190,001

At 30 March 2019

200,001

-

200,001

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Equipment

fittings

Totals

£

£

£

COST

At 31 March 2019

and 30 March 2020

3,149

27,266

30,415

DEPRECIATION

At 31 March 2019

1,824

23,431

25,255

Charge for year

199

1,195

1,394

At 30 March 2020

2,023

24,626

26,649

NET BOOK VALUE

At 30 March 2020

1,126

2,640

3,766

At 30 March 2019

1,325

3,835

5,160

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

30,153

45,483

Amounts owed by participating interests

1,109

1,109

Directors' accounts

4,437

160,809

Prepayments

5,625

5,882

41,324

213,283

Amounts owed by participating interests do not bear interest, are unsecured and are repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

24,931

Trade creditors

75,433

93,575

Amounts owed to participating interests

56,404

97,770

Corporation tax

23,013

37,340

Accrued expenses

3,201

3,333

158,051

256,949

Amounts owed to participating interests do not bear interest, are unsecured and are repayable on demand.

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

716

980

Deferred

tax

£

Balance at 31 March 2019

980

Credit to Income Statement during year

(264

)

Balance at 30 March 2020

716

The deferred tax provision is in respect of accelerated capital allowances.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 March 2020 and 30 March 2019:

2020

2019

£

£

M L Herron

Balance outstanding at start of year

160,809

116,925

Amounts advanced

114,639

349,684

Amounts repaid

(271,011

)

(305,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,437

160,809