Registered number
04767019
BP CLINIC LTD
Filleted Accounts
31 May 2017
BP CLINIC LTD
Registered number: 04767019
Balance Sheet
as at 31 May 2017
Notes 2017 2016
£ £
Fixed assets
Intangible assets 2 1,300,355 1,300,355
Tangible assets 3 208,263 216,553
Investments 4 1,791 1,791
1,510,409 1,518,699
Current assets
Debtors 5 32,469 19,211
Cash at bank and in hand 190,702 149,832
223,171 169,043
Creditors: amounts falling due within one year 6 (157,950) (189,851)
Net current assets/(liabilities) 65,221 (20,808)
Total assets less current liabilities 1,575,630 1,497,891
Creditors: amounts falling due after more than one year 7 (741,757) (752,363)
Provisions for liabilities (6,922) (6,922)
Net assets 826,951 738,606
Capital and reserves
Called up share capital 100 100
Profit and loss account 826,851 738,506
Shareholders' funds 826,951 738,606
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Bijan Beigi
Director
Approved by the board on 8 December 2017
BP CLINIC LTD
Notes to the Accounts
for the year ended 31 May 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvments to premises 2% reducing balance
Fixtures and fittings 25% reducing balance
Computer equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Intangible fixed assets £
Freehold property
Cost
At 1 June 2016 1,300,355
At 31 May 2017 1,300,355
Amortisation
At 31 May 2017 -
Net book value
At 31 May 2017 1,300,355
At 31 May 2016 1,300,355
3 Tangible fixed assets
Improv to premises Fixtures and fittings Computer equip Total
£ £ £
Cost
At 1 June 2016 214,166 147,898 27,320 389,384
Additions 1,049 1,193 2,449 4,691
At 31 May 2017 215,215 149,091 29,769 394,075
Depreciation
At 1 June 2016 28,138 123,654 21,039 172,831
Charge for the year 3,741 6,359 2,881 12,981
At 31 May 2017 31,879 130,013 23,920 185,812
Net book value
At 31 May 2017 183,336 19,078 5,849 208,263
At 31 May 2016 186,028 24,244 6,281 216,553
4 Investments
Other
investments
£
Cost
At 1 June 2016 1,791
At 31 May 2017 1,791
5 Debtors 2017 2016
£ £
Trade debtors 32,469 17,068
Other debtors - 2,143
32,469 19,211
6 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 30,845 31,887
Trade creditors 2,393 -
Directors loan accounts 57,984 116,028
Corporation tax 38,132 30,297
Other taxes and social security costs 1,096 943
Other creditors 27,500 10,696
157,950 189,851
7 Creditors: amounts falling due after one year 2017 2016
£ £
Bank loans 741,757 752,363
8 Other information
BP CLINIC LTD is a private company limited by shares and incorporated in England. Its registered office is:
Lydmore House
St Ann's Fort
Kings Lynn
Norfolk
PE30 2EU
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