Company registration number 10586864 (England and Wales)
FORNHAM CHIROPRACTIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
FORNHAM CHIROPRACTIC LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
FORNHAM CHIROPRACTIC LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
907
1,089
Tangible assets
4
10,844
12,961
11,751
14,050
Current assets
Debtors
5
20,143
Cash at bank and in hand
29,089
22,213
49,232
22,213
Creditors: amounts falling due within one year
6
(53,129)
(23,086)
Net current liabilities
(3,897)
(873)
Total assets less current liabilities
7,854
13,177
Provisions for liabilities
(2,060)
(2,463)
Net assets
5,794
10,714
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
5,792
10,712
Total equity
5,794
10,714
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
FORNHAM CHIROPRACTIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 December 2022
Mr J Hulscher
Director
Company Registration No. 10586864
FORNHAM CHIROPRACTIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022
- 3 -
1
Accounting policies
Company information
Fornham Chiropractic Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.
1.1
Reporting period
[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
FORNHAM CHIROPRACTIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 4 -
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Patents & licences
straight line over 10 years
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
straight line over 10 years
Plant and equipment
15% reducing balance
Office equipment
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
FORNHAM CHIROPRACTIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
FORNHAM CHIROPRACTIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
2021
Number
Number
Total
4
4
3
Intangible fixed assets
Patents & licences
£
Cost
At 1 February 2021 and 31 March 2022
1,556
Amortisation and impairment
At 1 February 2021
467
Amortisation charged for the period
182
At 31 March 2022
649
Carrying amount
At 31 March 2022
907
At 31 January 2021
1,089
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Office equipment
Total
£
£
£
£
Cost
At 1 February 2021
6,516
8,649
10,878
26,043
Additions
641
641
At 31 March 2022
6,516
8,649
11,519
26,684
Depreciation and impairment
At 1 February 2021
2,607
4,134
6,341
13,082
Depreciation charged in the period
760
790
1,208
2,758
At 31 March 2022
3,367
4,924
7,549
15,840
Carrying amount
At 31 March 2022
3,149
3,725
3,970
10,844
At 31 January 2021
3,909
4,515
4,537
12,961
FORNHAM CHIROPRACTIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2022
- 7 -
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
12,076
Other debtors
8,067
20,143
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
23,448
Amounts owed to group undertakings
464
Taxation and social security
26,020
18,044
Other creditors
3,661
4,578
53,129
23,086
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
27,069
8
Directors' transactions
The directors consider that there are no transactions to disclose.
9
Parent company
During the year the company was under the control of the holding company, JABE Holdings Ltd, who own 100% of the issued share capital. The registered office address is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.
2022-03-312021-02-01false23 December 2022CCH SoftwareCCH Accounts Production 2022.300No description of principal activityMr J HulscherMrs RJ Hulscher105868642021-02-012022-03-31105868642022-03-31105868642021-01-3110586864core:PatentsTrademarksLicencesConcessionsSimilar2022-03-3110586864core:PatentsTrademarksLicencesConcessionsSimilar2021-01-3110586864core:LeaseholdImprovements2022-03-3110586864core:PlantMachinery2022-03-3110586864core:ComputerEquipment2022-03-3110586864core:LeaseholdImprovements2021-01-3110586864core:PlantMachinery2021-01-3110586864core:ComputerEquipment2021-01-3110586864core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3110586864core:CurrentFinancialInstrumentscore:WithinOneYear2021-01-3110586864core:CurrentFinancialInstruments2022-03-3110586864core:CurrentFinancialInstruments2021-01-3110586864core:ShareCapital2022-03-3110586864core:ShareCapital2021-01-3110586864core:RetainedEarningsAccumulatedLosses2022-03-3110586864core:RetainedEarningsAccumulatedLosses2021-01-3110586864bus:Director12021-02-012022-03-3110586864core:IntangibleAssetsOtherThanGoodwill2021-02-012022-03-3110586864core:PatentsTrademarksLicencesConcessionsSimilar2021-02-012022-03-3110586864core:LeaseholdImprovements2021-02-012022-03-3110586864core:PlantMachinery2021-02-012022-03-3110586864core:ComputerEquipment2021-02-012022-03-31105868642020-02-012021-01-3110586864core:PatentsTrademarksLicencesConcessionsSimilar2021-01-3110586864core:LeaseholdImprovements2021-01-3110586864core:PlantMachinery2021-01-3110586864core:ComputerEquipment2021-01-31105868642021-01-3110586864core:WithinOneYear2022-03-3110586864core:WithinOneYear2021-01-3110586864bus:PrivateLimitedCompanyLtd2021-02-012022-03-3110586864bus:SmallCompaniesRegimeForAccounts2021-02-012022-03-3110586864bus:FRS1022021-02-012022-03-3110586864bus:AuditExemptWithAccountantsReport2021-02-012022-03-3110586864bus:CompanySecretary12021-02-012022-03-3110586864bus:FullAccounts2021-02-012022-03-31xbrli:purexbrli:sharesiso4217:GBP