APPI Clinics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04404259 (England and Wales)

Financial Statements for the Year Ended 30 June 2020

for

APPI Clinics Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

E Withers

G A Withers

SECRETARY:

G A Withers

REGISTERED OFFICE:

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

BUSINESS ADDRESS:

The Chapel

Wellington Road

London

NW10 5LJ

REGISTERED NUMBER:

04404259 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Intangible assets

4

98,601

64,987

Tangible assets

5

25,177

37,518

123,778

102,505

CURRENT ASSETS

Stocks

912

869

Debtors

6

155,735

151,254

Cash at bank and in hand

126,190

5,522

282,837

157,645

CREDITORS

Amounts falling due within one year

7

166,253

115,363

NET CURRENT ASSETS

116,584

42,282

TOTAL ASSETS LESS CURRENT LIABILITIES

240,362

144,787

CREDITORS

Amounts falling due after more than one year

8

(103,607

)

(14,429

)

PROVISIONS FOR LIABILITIES

(4,341

)

(7,113

)

NET ASSETS

132,414

123,245

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

132,314

123,145

SHAREHOLDERS' FUNDS

132,414

123,245

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 April 2021 and were signed on its behalf by:

G A Withers - Director

1.	STATUTORY INFORMATION

APPI Clinics Limited 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 represents net invoiced sales of services, excluding value added tax.

Turnover is recognised at the point of services provided.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over the lease period

Improvements to property

-

over the lease period

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Government grants

The company recognises government grants received relating to the Coronavirus Job Retention Scheme on an accruals basis. The grants are recognised in the Income Statement over the period in which the company recognises the related costs for which the grant is intended to compensate. The company recognises the retail, hospitality and leisure grant fund on receivable basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and other loans to related parties.

Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Debtors

Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.

Creditors

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

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.

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 14 (2019 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 July 2019

72,208

Additions

45,373

At 30 June 2020

117,581

AMORTISATION

At 1 July 2019

7,221

Amortisation for year

11,759

At 30 June 2020

18,980

NET BOOK VALUE

At 30 June 2020

98,601

At 30 June 2019

64,987

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Short

to

and

Computer

leasehold

property

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 July 2019

and 30 June 2020

6,902

42,250

124,790

52,805

226,747

DEPRECIATION

At 1 July 2019

6,901

15,265

119,484

47,579

189,229

Charge for year

-

4,225

4,099

4,017

12,341

At 30 June 2020

6,901

19,490

123,583

51,596

201,570

NET BOOK VALUE

At 30 June 2020

1

22,760

1,207

1,209

25,177

At 30 June 2019

1

26,985

5,306

5,226

37,518

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

13,516

28,806

Other debtors

15,750

15,750

Amounts due from related companies

108,896

32,832

Prepayments and accrued income

17,573

73,866

155,735

151,254

Included within other debtors is a rent deposit amounting to £5,700 (2019: £5,700). The deposit and interest receivable on this sum is held as security by the landlord and is subject to a legal charge.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

14,428

14,428

Trade creditors

88,560

69,800

Social security and other taxes

32,198

10,689

Other creditors

24,174

674

Amounts due to related company

-

12,561

Directors' current accounts

781

360

Accruals & deferred income

6,112

6,851

166,253

115,363

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans between one and two

years

3,607

14,429

Bank loans between two and

five years

100,000

-

103,607

14,429

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

94,000

63,000

Between one and five years

301,083

138,250

In more than five years

212,917

102,667

608,000

303,917

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

118,035

28,857

The bank borrowings are secured by a debenture representing a fixed and floating charge over the assets of the company.

11.	RELATED PARTY DISCLOSURES

Amounts owed to and from related undertakings are interest free and repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is the APPI Health Group Limited, a company incorporated in England and Wales.