Streamline Clinics Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10908956 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

STREAMLINE CLINICS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

G H Slater

S S Somers

REGISTERED OFFICE:

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

REGISTERED NUMBER:

10908956 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Intangible assets

4

142,858

171,429

Tangible assets

5

34,773

32,509

177,631

203,938

CURRENT ASSETS

Debtors

6

370,820

389,782

Cash at bank

913,924

361,467

1,284,744

751,249

CREDITORS

Amounts falling due within one year

7

(1,364,116

)

(883,760

)

NET CURRENT LIABILITIES

(79,372

)

(132,511

)

TOTAL ASSETS LESS CURRENT LIABILITIES

98,259

71,427

CAPITAL AND RESERVES

Called up share capital

8

10,000

10,000

Share premium

9

58,800

58,800

Retained earnings

9

29,459

2,627

SHAREHOLDERS' FUNDS

98,259

71,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 1 February 2021 and were signed on its behalf by:

G H Slater - Director

1.	STATUTORY INFORMATION

Streamline Clinics 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover 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 the business in Streamline Surgical LLP, is being amortised evenly over its estimated useful life of 7 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.

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

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

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.

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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2019 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

200,000

AMORTISATION

At 1 April 2019

28,571

Charge for year

28,571

At 31 March 2020

57,142

NET BOOK VALUE

At 31 March 2020

142,858

At 31 March 2019

171,429

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

40,637

Additions

10,958

At 31 March 2020

51,595

DEPRECIATION

At 1 April 2019

8,128

Charge for year

8,694

At 31 March 2020

16,822

NET BOOK VALUE

At 31 March 2020

34,773

At 31 March 2019

32,509

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

236,604

261,182

Amounts owed by group undertakings

7,337

7,337

Other debtors

126,879

121,263

370,820

389,782

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

462,203

92,187

Taxation and social security

11,481

9,722

Other creditors

890,432

781,851

1,364,116

883,760

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2020

2019

value:

£

£

1,000,000

1p Ordinary

1p

10,000

10,000

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2019

2,627

58,800

61,427

Profit for the year

26,832

26,832

At 31 March 2020

29,459

58,800

88,259

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019:

2020

2019

£

£

G H Slater

Balance outstanding at start of year

5,580

-

Amounts advanced

-

69,166

Amounts repaid

-

(63,586

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,580

5,580

S S Somers

Balance outstanding at start of year

5,581

-

Amounts advanced

-

69,166

Amounts repaid

-

(63,585

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,581

5,581

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Streamline Clinics Ltd for the year ended 31 March 2020 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Streamline Clinics Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Streamline Clinics Ltd and state those matters that we have agreed to state to the Board of Directors of Streamline Clinics Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Streamline Clinics Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Streamline Clinics 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 Streamline Clinics Ltd. You consider that Streamline Clinics 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 Streamline Clinics 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.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

1 February 2021