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REGISTERED NUMBER: 12362205 (England and Wales)















Somerset Lower Limb Limited

Unaudited Financial Statements for the Year Ended 28 February 2023






Somerset Lower Limb Limited (Registered number: 12362205)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Somerset Lower Limb Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Dr R B Hammett





REGISTERED OFFICE: 3 Southernhay West
Exeter
Devon
EX1 1JG





REGISTERED NUMBER: 12362205 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Exeter) Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

Somerset Lower Limb Limited (Registered number: 12362205)

Balance Sheet
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 4,400 6,800
Investments 6 7,758 6,332
12,158 13,132

CURRENT ASSETS
Debtors 7 2,368 4,559
Cash at bank 1,180 1,306
3,548 5,865
CREDITORS
Amounts falling due within one year 8 (15,389 ) (14,798 )
NET CURRENT LIABILITIES (11,841 ) (8,933 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

317

4,199

CAPITAL AND RESERVES
Called up share capital 70 70
Retained earnings 247 4,129
SHAREHOLDERS' FUNDS 317 4,199

Somerset Lower Limb Limited (Registered number: 12362205)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 2 November 2023 and were signed by:





Dr R B Hammett - Director


Somerset Lower Limb Limited (Registered number: 12362205)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Somerset Lower Limb 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable in respect of the sale of services falling within the company's ordinary activities.

Turnover also includes the company's share of profits deriving from its interest in a trading partnership whose activities are wholly undertaken in the UK.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

Investments
Fixed asset investments are stated at cost and represent the company's Partnership current account and permanent capital account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Somerset Lower Limb Limited (Registered number: 12362205)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 12,000
AMORTISATION
At 1 March 2022 5,200
Amortisation for year 2,400
At 28 February 2023 7,600
NET BOOK VALUE
At 28 February 2023 4,400
At 28 February 2022 6,800

6. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 March 2022 6,332
Disposals (18,825 )
Share of profit/(loss) 20,251
At 28 February 2023 7,758
NET BOOK VALUE
At 28 February 2023 7,758
At 28 February 2022 6,332

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts 1,836 -
Prepayments and accrued income 532 4,559
2,368 4,559

Somerset Lower Limb Limited (Registered number: 12362205)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 11,924 10,188
Social security and other taxes 159 159
Other creditors 320 320
Directors' current accounts - 1,321
Accruals and deferred income 2,986 2,810
15,389 14,798

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Dr R B Hammett
Balance outstanding at start of year (1,321 ) (899 )
Amounts advanced 55,407 39,578
Amounts repaid (52,250 ) (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,836 (1,321 )

During the period, the company charged interest on the overdrawn loan account amounting to £207 (2022: £Nil)

10. RELATED PARTY DISCLOSURES

The Company is a partner in and has an active participating interest in a Limited Liability Partnership that trades under the name of Blackdown Orthopaedic and Spinal Services LLP.

The company's investment in this Partnership is detailed in the notes to the financial statements. The Partnership Agreement entitles the company to a share of Partnership profits.