Registered number
07696229
Kent Orthopaedic Practice Limited
Unaudited Filleted Accounts
31 July 2023
Kent Orthopaedic Practice Limited
Registered number: 07696229
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 530,822 1,282,964
Investments 4 178,723 117,565
709,545 1,400,529
Current assets
Debtors 5 317,253 53,369
Cash at bank and in hand 701,816 358,546
1,019,069 411,915
Creditors: amounts falling due within one year 6 (123,027) (358,794)
Net current assets 896,042 53,121
Total assets less current liabilities 1,605,587 1,453,650
Creditors: amounts falling due after more than one year 7 (177,155) (184,370)
Provisions for liabilities (1,653) (1,663)
Net assets 1,426,779 1,267,617
Capital and reserves
Called up share capital 500 500
Profit and loss account 1,426,279 1,267,117
Shareholders' funds 1,426,779 1,267,617
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.
Professor B.Singh
Director
Approved by the board on 22 January 2024
Kent Orthopaedic Practice Limited
Notes to the Accounts
for the year ended 31 July 2023
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.
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:
Freehold buildings 0%
Plant and machinery 25% on written down value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 1,274,211 22,232 1,296,443
Additions 132,480 625 133,105
Disposals (882,480) (4,902) (887,382)
At 31 July 2023 524,211 17,955 542,166
Depreciation
At 1 August 2022 - 13,479 13,479
Charge for the year - 2,314 2,314
On disposals - (4,449) (4,449)
At 31 July 2023 - 11,344 11,344
Net book value
At 31 July 2023 524,211 6,611 530,822
At 31 July 2022 1,274,211 8,753 1,282,964
4 Investments
Other
investments
£
Cost
At 1 August 2022 117,565
Additions 61,158
At 31 July 2023 178,723
5 Debtors 2023 2022
£ £
Trade debtors 44,480 45,583
Other debtors 272,773 7,786
317,253 53,369
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,474 5,733
Trade creditors 6,643 11,921
Taxation and social security costs 105,372 78,253
Other creditors 4,538 262,887
123,027 358,794
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 177,155 184,370
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 151,259 161,438
Secured bank loans 183,629 190,103
The mortgage is secured by a fixed charge over a freehold property.
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Professor B.Singh
Loan to the director - 264,884 - 264,884
- 264,884 - 264,884
10 Controlling party
The controlling parties are Professor B.Singh and Dr.S.B.Singh by virtue of their ownership of 45% and 25% respectively of the issued Ordinary shares of the company.
11 Other information
Kent Orthopaedic Practice Limited is a private company limited by shares and incorporated in England. Its registered office is:
Barnjet Cottage, Tonbridge Road,
Barming,
Maidstone,
Kent,
ME16 9NJ.
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