Ascot Chiropractic Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 08908626 (England and Wales)

Unaudited Financial Statements

for the Period 6 April 2016 to 31 March 2017

for

Ascot Chiropractic Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr S Garratt

REGISTERED OFFICE:

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

REGISTERED NUMBER:

08908626 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Intangible assets

4

132,998

151,998

Tangible assets

5

8,075

1,993

141,073

153,991

CURRENT ASSETS

Debtors

6

2,225

2,160

Cash at bank

109,407

81,969

111,632

84,129

CREDITORS

Amounts falling due within one year

7

(110,658

)

(168,539

)

NET CURRENT ASSETS/(LIABILITIES)

974

(84,410

)

TOTAL ASSETS LESS CURRENT LIABILITIES

142,047

69,581

PROVISIONS FOR LIABILITIES

(1,534

)

(399

)

NET ASSETS

140,513

69,182

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

140,413

69,082

SHAREHOLDERS' FUNDS

140,513

69,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 7 July 2017 and were signed by:

Dr S Garratt - Director

1.	STATUTORY INFORMATION

Ascot Chiropractic 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Changes in accounting policies

These accounts reflect the first year that the company has adopted FRS 102. The prior year financial

statements were restated for adoption of FRS 102 in the current year. There were no material

adjustments arising.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the purpose

of services in the ordinary nature of the business.

Turnover is recognised at the point that chiropractic treatment is provided to a patient.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its 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.

Plant and machinery

-

25% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 6 April 2016

and 31 March 2017

189,998

AMORTISATION

At 6 April 2016

38,000

Charge for period

19,000

At 31 March 2017

57,000

NET BOOK VALUE

At 31 March 2017

132,998

At 5 April 2016

151,998

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 6 April 2016

2,392

Additions

7,360

At 31 March 2017

9,752

DEPRECIATION

At 6 April 2016

399

Charge for period

1,278

At 31 March 2017

1,677

NET BOOK VALUE

At 31 March 2017

8,075

At 5 April 2016

1,993

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

5.4.16

£

£

Other debtors

2,225

2,160

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

5.4.16

£

£

Taxation and social security

27,331

26,137

Other creditors

83,327

142,402

110,658

168,539

8.	LEASING AGREEMENTS

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

31.3.17

5.4.16

£

£

Between one and five years

49,661

60,116

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr S Garratt.