Gtr. Manchester Chiropractic Clinics Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05026425 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Greater Manchester

Chiropractic Clinics Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

9

DIRECTOR:

Dr A G Jackson

SECRETARY:

Miss S A Mendler

REGISTERED OFFICE:

7 High Street

Chapel-en-le-Frith

High Peak

SK23 0HD

REGISTERED NUMBER:

05026425 (England and Wales)

ACCOUNTANTS:

Stoney Philbin & Company Limited

7 High Street

Chapel-en-le-Frith

High Peak

SK23 0HD

FIXED ASSETS

Intangible assets

4

308,570

319,999

Tangible assets

5

98,016

111,022

Investments

6

117,753

-

524,339

431,021

CURRENT ASSETS

Stocks

2,951

3,423

Debtors

7

274,451

302,233

Cash at bank

101,376

333,006

378,778

638,662

CREDITORS

Amounts falling due within one year

8

252,280

318,264

NET CURRENT ASSETS

126,498

320,398

TOTAL ASSETS LESS CURRENT LIABILITIES

650,837

751,419

PROVISIONS FOR LIABILITIES

9

9,675

12,144

NET ASSETS

641,162

739,275

CAPITAL AND RESERVES

Called up share capital

22

22

Retained earnings

10

641,140

739,253

SHAREHOLDERS' FUNDS

641,162

739,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 28 July 2023 and were signed by:

Dr A G Jackson - Director

1.	STATUTORY INFORMATION

Greater Manchester Chiropractic 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.

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 a business in 2017, is being amortised evenly over its estimated useful life of thirty five 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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 12 (2022 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

400,000

AMORTISATION

At 1 April 2022

80,001

Amortisation for year

11,429

At 31 March 2023

91,430

NET BOOK VALUE

At 31 March 2023

308,570

At 31 March 2022

319,999

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

47,094

177,713

39,143

45,662

309,612

Additions

-

-

-

3,967

3,967

At 31 March 2023

47,094

177,713

39,143

49,629

313,579

DEPRECIATION

At 1 April 2022

-

136,813

29,213

32,564

198,590

Charge for year

-

10,225

2,482

4,266

16,973

At 31 March 2023

-

147,038

31,695

36,830

215,563

NET BOOK VALUE

At 31 March 2023

47,094

30,675

7,448

12,799

98,016

At 31 March 2022

47,094

40,900

9,930

13,098

111,022

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

192,847

Impairments

(75,094

)

At 31 March 2023

117,753

NET BOOK VALUE

At 31 March 2023

117,753

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

16,800

15,793

Other debtors

112,571

135,467

Directors' loan accounts

141,019

147,381

Prepayments

4,061

3,592

274,451

302,233

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Tax

110,842

145,276

Social security and other taxes

5,111

4,445

Other creditors

133,577

165,793

Accrued expenses

2,750

2,750

252,280

318,264

9.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

9,675

12,144

Deferred

tax

£

Balance at 1 April 2022

12,144

Credit to Income Statement during year

(2,469

)

Balance at 31 March 2023

9,675

10.

RESERVES

Retained

earnings

£

At 1 April 2022

739,253

Profit for the year

21,887

Dividends

(120,000

)

At 31 March 2023

641,140

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

Dr A G Jackson

Balance outstanding at start of year

147,381

205,871

Amounts repaid

-

(58,490

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

147,381

The above loan is unsecured, repayable on demand, and interest is charged at 2.00%.

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 Balance Sheet. 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Stoney Philbin & Company Limited

7 High Street

Chapel-en-le-Frith

High Peak

SK23 0HD

28 July 2023