Summit Physiotherapy Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05651980 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2017

for

Summit Physiotherapy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Hosgood

Mr A Richardson

SECRETARY:

Mr J Hosgood

REGISTERED OFFICE:

Bolton Arena

Arena Approach

Horwich

Bolton

Lancashire

BL6 6LB

REGISTERED NUMBER:

05651980 (England and Wales)

ACCOUNTANTS:

Robin Oatridge & Co Limited

Chartered Certified Accountants

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,716

3,022

3,716

3,022

CURRENT ASSETS

Stocks

1,350

1,250

Debtors

6

47,159

46,422

Cash at bank and in hand

850

1,655

49,359

49,327

CREDITORS

Amounts falling due within one year

7

37,216

40,887

NET CURRENT ASSETS

12,143

8,440

TOTAL ASSETS LESS CURRENT LIABILITIES

15,859

11,462

CREDITORS

Amounts falling due after more than one year

8

(2,928

)

(5,619

)

PROVISIONS FOR LIABILITIES

(743

)

(604

)

NET ASSETS

12,188

5,239

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

12,088

5,139

SHAREHOLDERS' FUNDS

12,188

5,239

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 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 Board of Directors on 22nd December 2017 and were signed on its behalf by:

Mr A Richardson - Director

1.	STATUTORY INFORMATION

Summit Physiotherapy 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 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.

Turnover

Turnover represents net invoiced services, excluding value added tax.

Goodwill

Goodwill was fully amortised over its estimated useful life of 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% 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 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2016

and 31st March 2017

9,000

AMORTISATION

At 1st April 2016

and 31st March 2017

9,000

NET BOOK VALUE

At 31st March 2017

-

At 31st March 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2016

10,431

1,363

11,794

Additions

-

1,349

1,349

At 31st March 2017

10,431

2,712

13,143

DEPRECIATION

At 1st April 2016

8,014

758

8,772

Charge for year

362

293

655

At 31st March 2017

8,376

1,051

9,427

NET BOOK VALUE

At 31st March 2017

2,055

1,661

3,716

At 31st March 2016

2,417

605

3,022

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

10,443

20,060

Other debtors

36,716

26,362

47,159

46,422

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

9,313

3,537

Trade creditors

4,628

8,450

Taxation and social security

12,526

20,926

Other creditors

10,749

7,974

37,216

40,887

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

2,928

5,619

9.	LEASING AGREEMENTS

The company has lease obligations that expire within four years that give rise to an annual commitment of

£50,483.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2017 and

31st March 2016:

2017

2016

£

£

Mr A Hosgood and Mr A Richardson

Balance outstanding at start of year

18,862

-

Amounts advanced

-

18,862

Amounts repaid

(363

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,499

18,862

11.	RELATED PARTY DISCLOSURES

The directors of the company are also directors and the controlling shareholders of Physio Referrals Limited.

As at the year end £18,217 was owed to the company to Physio Referrals Limited in the form of a loan (2016 -

£7,500). No interest was charged on the loan (2016 - nil)

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.