J M F Physio Limited 31/01/2022 iXBRL

J M F Physio Limited 31/01/2022 iXBRL

J M F PHYSIO LIMITED - Company Information

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1 31/01/2022 2022-01-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2021-02-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05679515 2021-02-01 2022-01-31 05679515 2022-01-31 05679515 2021-01-31 05679515 2020-02-01 2021-01-31 05679515 2021-01-31 05679515 bus:RegisteredOffice 2021-02-01 2022-01-31 05679515 bus:LeadAgentIfApplicable 2021-02-01 2022-01-31 05679515 bus:Director1 2021-02-01 2022-01-31 05679515 core:FurnitureFittingsToolsEquipment 2021-01-31 05679515 core:FurnitureFittingsToolsEquipment 2022-01-31 05679515 core:WithinOneYear 2022-01-31 05679515 core:WithinOneYear 2021-01-31 05679515 core:ShareCapital 2022-01-31 05679515 core:ShareCapital 2021-01-31 05679515 core:RetainedEarningsAccumulatedLosses 2022-01-31 05679515 core:RetainedEarningsAccumulatedLosses 2021-01-31 05679515 core:FurnitureFittingsToolsEquipment 2021-02-01 2022-01-31 05679515 core:FurnitureFittingsToolsEquipment 2021-01-31 05679515 bus:SmallEntities 2021-02-01 2022-01-31 05679515 bus:AuditExempt-NoAccountantsReport 2021-02-01 2022-01-31 05679515 bus:FullAccounts 2021-02-01 2022-01-31 05679515 bus:SmallCompaniesRegimeForAccounts 2021-02-01 2022-01-31 05679515 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 05679515 core:AllUnconsolidatedStructuredEntities 2021-02-01 2022-01-31 05679515 1 2021-02-01 2022-01-31
Company registration number: 05679515
J M F Physio Limited
Unaudited filleted financial statements
31 January 2022
J M F Physio Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
J M F Physio Limited
Directors and other information
Director Ms J M V Fisher
Company number 05679515
Registered office The Cottage Farmhouse
Narr Lodge
Quernmore
Lancaster
LA2 9EF
Business address The Cottage Farmhouse
Narr Lodge
Quernmore
Lancaster
LA2 9EF
Accountants Windle & Bowker Limited
Croft House
Station Road
Barnoldswick
Lancashire
BB18 5NA
Bankers Adam & Company Plc
Old Bank House
25 St Ann Street
Manchester
M2 7LG
J M F Physio Limited
Statement of financial position
31 January 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 713 122
_______ _______
713 122
Current assets
Debtors 6 1,030 45
Cash at bank and in hand 46,754 56,420
_______ _______
47,784 56,465
Creditors: amounts falling due
within one year 7 ( 16,211) ( 24,865)
_______ _______
Net current assets 31,573 31,600
_______ _______
Total assets less current liabilities 32,286 31,722
Provisions for liabilities ( 135) ( 23)
_______ _______
Net assets 32,151 31,699
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 32,150 31,698
_______ _______
Shareholders funds 32,151 31,699
_______ _______
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of 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.
These financial statements were approved by the board of directors and authorised for issue on 17 November 2022 , and are signed on behalf of the board by:
Ms J M V Fisher
Director
Company registration number: 05679515
J M F Physio Limited
Notes to the financial statements
Year ended 31 January 2022
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Cottage Farmhouse, Narr Lodge, Quernmore, Lancaster, LA2 9EF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Fittings fixtures and equipment - 30% reducing balance & 33.33% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 February 2021 18,210 18,210
Additions 942 942
_______ _______
At 31 January 2022 19,152 19,152
_______ _______
Depreciation
At 1 February 2021 18,088 18,088
Charge for the year 351 351
_______ _______
At 31 January 2022 18,439 18,439
_______ _______
Carrying amount
At 31 January 2022 713 713
_______ _______
At 31 January 2021 122 122
_______ _______
6. Debtors
2022 2021
£ £
Trade debtors 1,030 45
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Corporation tax 423 3,188
Other creditors 15,788 21,677
_______ _______
16,211 24,865
_______ _______
8. Related party transactions
The Director provided interest free loan to the company. The balance due to her at the year end was £10,268 (31 January 2021 - £18,757). This balance is included in creditors falling due within one year. Dividends amounting to £2,000 (31 January 2021 - £2,000) were paid to the Director.
9. Controlling party
The company is under the control of the Director who is interested in 100% of the company's issued share capital.