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REGISTERED NUMBER: 05346061 (England and Wales)














Financial Statements

for the Year Ended 30 June 2023

for

Trust Orthotics Limited

Trust Orthotics Limited (Registered number: 05346061)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Trust Orthotics Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mrs B Turner





SECRETARY: Mrs B Turner





REGISTERED OFFICE: Oriel House
2 - 8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 05346061 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Trust Orthotics Limited (Registered number: 05346061)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,560 2,019
1,560 2,019

CURRENT ASSETS
Stocks 14,250 21,500
Debtors 6 67,685 108,910
Cash at bank and in hand 29,770 17,964
111,705 148,374
CREDITORS
Amounts falling due within one year 7 115,294 132,829
NET CURRENT (LIABILITIES)/ASSETS (3,589 ) 15,545
TOTAL ASSETS LESS CURRENT LIABILITIES (2,029 ) 17,564

CREDITORS
Amounts falling due after more than one year 8 (36,579 ) (42,162 )

PROVISIONS FOR LIABILITIES (595 ) (595 )
NET LIABILITIES (39,203 ) (25,193 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (39,205 ) (25,195 )
SHAREHOLDERS' FUNDS (39,203 ) (25,193 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Trust Orthotics Limited (Registered number: 05346061)

Balance Sheet - continued
30 June 2023


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 7 March 2024 and were signed by:





Mrs B Turner - Director


Trust Orthotics Limited (Registered number: 05346061)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Trust Orthotics 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents the value of products manufactured and supplied to customers on specification, net of vat. Invoices are raised on delivery.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 3 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Trust Orthotics Limited (Registered number: 05346061)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company meets its day to day working capital requirements by support from its directors. No adjustments have been made to reflect the position if such support was withdrawn. This support is expected to continue for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 5,000
AMORTISATION
At 1 July 2022
and 30 June 2023 5,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2022
and 30 June 2023 18,000 9,883 9,530 6,741 44,154
DEPRECIATION
At 1 July 2022 17,851 9,111 9,337 5,836 42,135
Charge for year 37 193 48 181 459
At 30 June 2023 17,888 9,304 9,385 6,017 42,594
NET BOOK VALUE
At 30 June 2023 112 579 145 724 1,560
At 30 June 2022 149 772 193 905 2,019

Trust Orthotics Limited (Registered number: 05346061)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 76,757 118,405
Bad debt provision (16,350 ) (16,350 )
Other debtors 6,830 6,464
Prepayments and accrued income 448 391
67,685 108,910

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 5,582 5,444
Trade creditors 10,956 17,055
Tax 13,454 13,454
Social security and other taxes 40,675 43,282
Pension 283 231
VAT 9,283 18,133
Other creditors - 969
Directors' current accounts 19,255 19,255
Accrued expenses 15,806 15,006
115,294 132,829

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans - 1-2 years 5,723 5,582
Bank loans - 2-5 years 11,885 11,591
Other loans - 2-5 years 18,971 24,989
36,579 42,162

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
2 Ordinary £1 2 2

Trust Orthotics Limited (Registered number: 05346061)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
P Turner
Balance outstanding at start of year (9,597 ) (11,080 )
Amounts advanced - 1,483
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,597 ) (9,597 )

Mrs B Turner
Balance outstanding at start of year (9,658 ) (11,141 )
Amounts advanced - 1,483
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,658 ) (9,658 )