Silverfin false 31/03/2023 01/04/2022 31/03/2023 David Andrew Cairns 27/03/2019 Gillian Cairns 27/03/2019 05 March 2024 The principal activity of the Company during the financial year was that of medical consultancy services. SC625742 2023-03-31 SC625742 bus:Director1 2023-03-31 SC625742 bus:Director2 2023-03-31 SC625742 2022-03-31 SC625742 core:CurrentFinancialInstruments 2023-03-31 SC625742 core:CurrentFinancialInstruments 2022-03-31 SC625742 core:Non-currentFinancialInstruments 2023-03-31 SC625742 core:Non-currentFinancialInstruments 2022-03-31 SC625742 core:ShareCapital 2023-03-31 SC625742 core:ShareCapital 2022-03-31 SC625742 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC625742 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC625742 core:Vehicles 2022-03-31 SC625742 core:ComputerEquipment 2022-03-31 SC625742 core:Vehicles 2023-03-31 SC625742 core:ComputerEquipment 2023-03-31 SC625742 core:CostValuation 2022-03-31 SC625742 core:FurtherSpecificIncreaseDecreaseInInvestments2ComponentTotalChangeInInvestments 2023-03-31 SC625742 core:CostValuation 2023-03-31 SC625742 bus:OrdinaryShareClass1 2023-03-31 SC625742 2022-04-01 2023-03-31 SC625742 bus:FullAccounts 2022-04-01 2023-03-31 SC625742 bus:SmallEntities 2022-04-01 2023-03-31 SC625742 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC625742 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC625742 bus:Director1 2022-04-01 2023-03-31 SC625742 bus:Director2 2022-04-01 2023-03-31 SC625742 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 SC625742 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC625742 2021-04-01 2022-03-31 SC625742 core:Vehicles 2022-04-01 2023-03-31 SC625742 core:ComputerEquipment 2022-04-01 2023-03-31 SC625742 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 SC625742 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC625742 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC625742 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC625742 (Scotland)

DC ORTHOPAEDICS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

DC ORTHOPAEDICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

DC ORTHOPAEDICS LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
DC ORTHOPAEDICS LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,895 17,832
Investments 4 3,356 674
11,251 18,506
Current assets
Debtors 7,355 2,511
Cash at bank and in hand 15,951 32,118
23,306 34,629
Creditors: amounts falling due within one year 5 ( 28,922) ( 15,925)
Net current (liabilities)/assets (5,616) 18,704
Total assets less current liabilities 5,635 37,210
Creditors: amounts falling due after more than one year 6 ( 2,528) ( 20,736)
Provision for liabilities ( 2,165) ( 3,887)
Net assets 942 12,587
Capital and reserves
Called-up share capital 7 10 10
Profit and loss account 932 12,577
Total shareholders' funds 942 12,587

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of DC Orthopaedics Limited (registered number: SC625742) were approved and authorised for issue by the Board of Directors on 05 March 2024. They were signed on its behalf by:

David Andrew Cairns
Director
DC ORTHOPAEDICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
DC ORTHOPAEDICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

DC Orthopaedics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 22 Keirhill Avenue, Westhill, AB32 6AY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand with original maturities of three months or less.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price unless.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 April 2022 41,790 3,655 45,445
Additions 0 1,309 1,309
At 31 March 2023 41,790 4,964 46,754
Accumulated depreciation
At 01 April 2022 25,249 2,364 27,613
Charge for the financial year 10,448 798 11,246
At 31 March 2023 35,697 3,162 38,859
Net book value
At 31 March 2023 6,093 1,802 7,895
At 31 March 2022 16,541 1,291 17,832

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 April 2022 674 674
Share of partnership profits 75,677 75,677
Drawings (72,995) (72,995)
At 31 March 2023 3,356 3,356
Carrying value at 31 March 2023 3,356 3,356
Carrying value at 31 March 2022 674 674

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 3,120 2,880
Taxation and social security 3,797 5,067
Obligations under finance leases and hire purchase contracts (secured) 18,575 4,408
Other creditors 3,430 3,570
28,922 15,925

Obligations under finance leases of £18,575 (2022 - £4,408) are secured over the assets to which they relate.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 0 18,575
Other creditors 2,528 2,161
2,528 20,736

Obligations under finance leases are secured over the assets to which they relate.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

8. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed (from) / to directors (7,355) 297

The above loans are interest free and have no fixed terms of repayment in place.