Advance Physiotherapy Network Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08773782 (England and Wales)

ADVANCE PHYSIOTHERAPY NETWORK LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

A Hudaly

REGISTERED OFFICE:

10th Floor

1 City Approach

Albert Street

Eccles

Manchester

M30 0BG

REGISTERED NUMBER:

08773782 (England and Wales)

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

3,832

4,216

3,832

4,216

CURRENT ASSETS

Debtors

6

48,806

39,992

Cash at bank and in hand

7,991

2,824

56,797

42,816

CREDITORS

Amounts falling due within one year

7

(46,785

)

(20,061

)

NET CURRENT ASSETS

10,012

22,755

TOTAL ASSETS LESS CURRENT LIABILITIES

13,844

26,971

PROVISIONS FOR LIABILITIES

(728

)

(803

)

NET ASSETS

13,116

26,168

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

13,115

26,167

13,116

26,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 April 2021 and were signed by:

A Hudaly - Director

1.	STATUTORY INFORMATION

Advance Physiotherapy Network Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 08773782 and its registered office address is 10th Floor, 1 City Approach, Albert Street, Eccles, Manchester, M30 0BG.

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.

The director has considered the impact of the global Covid-19 pandemic on the company and recognises that the future cannot be predicted with certainty. To date, however, the company has remained operational with policies in place to ensure treatments are carried out in accordance with government guidelines. Should demand for the company's services fall, the company would introduce cost control measures and would make use of any government funding available to them. The director believes that the company is well placed to manage the risks at these challenging times and therefore continues to adopt a going concern basis of accounting in preparing these financial statements.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgement in calculating an appropriate depreciation or amortisation charge.

Revenue

Revenue represents amounts receivable for goods and services net of trade discounts.

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.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance, 20% on cost and 10% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102.

During the year the company has benefitted from the Government Coronavirus Job Retention Scheme ('Furlough'). Furlough income has been recognised in "other income" in the same period as the related wage costs.

The company has not directly benefitted from any other forms of government assistance.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

and 30 April 2020

25,000

AMORTISATION

At 1 May 2019

and 30 April 2020

25,000

NET BOOK VALUE

At 30 April 2020

-

At 30 April 2019

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 May 2019

7,697

Additions

300

At 30 April 2020

7,997

DEPRECIATION

At 1 May 2019

3,481

Charge for year

684

At 30 April 2020

4,165

NET BOOK VALUE

At 30 April 2020

3,832

At 30 April 2019

4,216

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

35,734

39,214

Amounts owed by group undertakings

4,581

778

Other debtors

8,491

-

48,806

39,992

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,448

3,878

Taxation and social security

1,351

-

Other creditors

43,986

16,183

46,785

20,061