Natural Health Practice Ltd Filleted accounts for Companies House (small and micro)

Natural Health Practice Ltd Filleted accounts for Companies House (small and micro)

NATURAL HEALTH PRACTICE LTD - Company Information

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12 false false false false false false false false false true false false false false true false No description of principal activity 2019-07-01 Sage Accounts Production Advanced 2020 - FRS102_2019 74,892 9,420 6,547 15,967 58,925 65,472 xbrli:pure xbrli:shares iso4217:GBP 10258620 2019-07-01 2020-06-30 10258620 2020-06-30 10258620 2019-06-30 10258620 2018-07-01 2019-06-30 10258620 2019-06-30 10258620 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2019-07-01 2020-06-30 10258620 core:MotorVehicles 2019-07-01 2020-06-30 10258620 bus:OrdinaryShareClass1 2019-07-01 2020-06-30 10258620 bus:Director1 2019-07-01 2020-06-30 10258620 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2019-06-30 10258620 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-06-30 10258620 core:MotorVehicles 2019-06-30 10258620 core:MotorVehicles 2020-06-30 10258620 core:WithinOneYear 2020-06-30 10258620 core:WithinOneYear 2019-06-30 10258620 core:AfterOneYear 2020-06-30 10258620 core:AfterOneYear 2019-06-30 10258620 core:ShareCapital 2020-06-30 10258620 core:ShareCapital 2019-06-30 10258620 core:RetainedEarningsAccumulatedLosses 2020-06-30 10258620 core:RetainedEarningsAccumulatedLosses 2019-06-30 10258620 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2019-06-30 10258620 core:MotorVehicles 2019-06-30 10258620 bus:SmallEntities 2019-07-01 2020-06-30 10258620 bus:AuditExempt-NoAccountantsReport 2019-07-01 2020-06-30 10258620 bus:FullAccounts 2019-07-01 2020-06-30 10258620 bus:SmallCompaniesRegimeForAccounts 2019-07-01 2020-06-30 10258620 bus:PrivateLimitedCompanyLtd 2019-07-01 2020-06-30 10258620 bus:OrdinaryShareClass1 2020-06-30 10258620 bus:OrdinaryShareClass1 2019-06-30
COMPANY REGISTRATION NUMBER: 10258620
NATURAL HEALTH PRACTICE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 June 2020
NATURAL HEALTH PRACTICE LTD
BALANCE SHEET
30 June 2020
2020
2019
Note
£
£
£
£
Fixed assets
Intangible assets
5
58,925
65,472
Tangible assets
6
77,838
86,455
---------
---------
136,763
151,927
Current assets
Stocks
99,740
54,308
Debtors
7
408,380
416,045
Cash at bank and in hand
89,242
14,332
---------
---------
597,362
484,685
Creditors: amounts falling due within one year
8
369,614
400,982
---------
---------
Net current assets
227,748
83,703
---------
---------
Total assets less current liabilities
364,511
235,630
Creditors: amounts falling due after more than one year
9
206,888
150,118
Provisions
24,617
23,703
---------
---------
Net assets
133,006
61,809
---------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
132,906
61,709
---------
--------
Shareholders funds
133,006
61,809
---------
--------
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 profit and loss account has not been delivered.
For the year ending 30 June 2020 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NATURAL HEALTH PRACTICE LTD
BALANCE SHEET (continued)
30 June 2020
These financial statements were approved by the board of directors and authorised for issue on 30 June 2021 , and are signed on behalf of the board by:
K Glenville
Director
Company registration number: 10258620
NATURAL HEALTH PRACTICE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 St. Johns Road, Tunbridge Wells, Kent, TN4 9NP, England.
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.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Motor vehicles
-
25% reducing balance
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accruals model and the income is included within other operating income. Under the accruals model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. Financial assets comprise of debtors and cash. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities comprise of creditors. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2019: 12 ).
5. Intangible assets
Development costs
£
Cost
At 1 July 2019 and 30 June 2020
74,892
--------
Amortisation
At 1 July 2019
9,420
Charge for the year
6,547
--------
At 30 June 2020
15,967
--------
Carrying amount
At 30 June 2020
58,925
--------
At 30 June 2019
65,472
--------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 July 2019
86,334
3,861
90,195
Additions
8,986
6,036
15,022
--------
-------
---------
At 30 June 2020
95,320
9,897
105,217
--------
-------
---------
Depreciation
At 1 July 2019
2,913
606
3,519
Charge for the year
23,047
813
23,860
--------
-------
---------
At 30 June 2020
25,960
1,419
27,379
--------
-------
---------
Carrying amount
At 30 June 2020
69,360
8,478
77,838
--------
-------
---------
At 30 June 2019
83,421
3,255
86,676
--------
-------
---------
7. Debtors
2020
2019
£
£
Trade debtors
156,262
100,383
Other debtors
252,118
315,662
---------
---------
408,380
416,045
---------
---------
8. Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
31,433
96,369
Trade creditors
193,772
247,283
Social security and other taxes
51,341
6,351
Other creditors
93,068
50,979
---------
---------
369,614
400,982
---------
---------
9. Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
142,933
76,667
Other creditors
63,955
73,451
---------
---------
206,888
150,118
---------
---------
10. Called up share capital
Issued, called up and fully paid
2020
2019
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----