Custom Vision Clinics Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06268954 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Custom Vision Clinics Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Ball

Mrs J Ball

Mr J Pitman

REGISTERED OFFICE:

The Coach House

Bowcliffe Hall Estates

Bramham

LS23 6LP

REGISTERED NUMBER:

06268954 (England and Wales)

ACCOUNTANTS:

Wild & Co Chartered Accountants

Windsor House

Cornwall Road

Harrogate

HG1 2PW

FIXED ASSETS

Intangible assets

4

16,933

25,143

Tangible assets

5

1,018,219

1,184,801

1,035,152

1,209,944

CURRENT ASSETS

Stocks

79,964

-

Debtors

235,361

519,748

Cash at bank

1,010,338

1,067,887

1,325,663

1,587,635

CREDITORS

Amounts falling due within one year

802,520

841,511

NET CURRENT ASSETS

523,143

746,124

TOTAL ASSETS LESS CURRENT LIABILITIES

1,558,295

1,956,068

CREDITORS

Amounts falling due after more than one year

(253,493

)

(403,895

)

PROVISIONS FOR LIABILITIES

6

(233,659

)

(275,205

)

NET ASSETS

1,071,143

1,276,968

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Retained earnings

1,070,143

1,275,968

SHAREHOLDERS' FUNDS

1,071,143

1,276,968

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 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 August 2023 and were signed on its behalf by:

Mr J Ball - Director

1.	STATUTORY INFORMATION

Custom Vision 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.

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.

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.

Computer software is being amortised evenly over its estimated useful life of five 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

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

Straight line over 3 years

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure. The company has not directly benefited from any other forms of government assistance.

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.

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.

Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance lease are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest charged to profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any l lease incentives received, are charged to the profit and loss on a straight line basis over the terms of the relevant lease except where another more systematic basis is more representative of the time pattern in which the economic benefits from the leases are consumed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

41,050

AMORTISATION

At 1 April 2022

15,907

Amortisation for year

8,210

At 31 March 2023

24,117

NET BOOK VALUE

At 31 March 2023

16,933

At 31 March 2022

25,143

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

1,645,080

Additions

133,266

At 31 March 2023

1,778,346

DEPRECIATION

At 1 April 2022

460,279

Charge for year

299,848

At 31 March 2023

760,127

NET BOOK VALUE

At 31 March 2023

1,018,219

At 31 March 2022

1,184,801

6.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

233,659

275,205

Deferred

tax

£

Balance at 1 April 2022

275,205

Utilised during year

(41,546

)

Balance at 31 March 2023

233,659

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

1,000

Ordinary shares

£1.00

1,000

1,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.23

31.3.22

£

£

Mr J Ball

Balance outstanding at start of year

321,054

(1,313

)

Amounts advanced

171,156

388,071

Amounts repaid

(477,913

)

(65,704

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

14,297

321,054

Director loan of £14,297 is money advanced to the Director by the Company as at 31 March 2023. The loan is unsecured and interest free. The Director confirms the loan will be repaid by 31 December 2023.

The directors have provided personal guarantee in respect of the loans and hire purchase obligations of the company. As at the 31 March 2023, the total guarantee amounted to £157,844 (FY22 - £224,671).

The directors provided personal guarantees for the CBILS loans and CBILS Asset Finance obligations. See note 12 and 13 for details.