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REGISTERED NUMBER: 10000407 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ORTHOSOLE WORLDWIDE LIMITED

ORTHOSOLE WORLDWIDE LIMITED (REGISTERED NUMBER: 10000407)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ORTHOSOLE WORLDWIDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: R C Irani
Mrs L A Irani





REGISTERED OFFICE: Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG





REGISTERED NUMBER: 10000407 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

ORTHOSOLE WORLDWIDE LIMITED (REGISTERED NUMBER: 10000407)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 140,000 160,000

CURRENT ASSETS
Debtors 5 65,563 346
Cash at bank 201 6,463
65,764 6,809
CREDITORS
Amounts falling due within one year 6 78,932 76,053
NET CURRENT LIABILITIES (13,168 ) (69,244 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,832

90,756

CAPITAL AND RESERVES
Called up share capital 7 100 100
Non-distributable reserve 99,255 99,255
Retained earnings 27,477 (8,599 )
SHAREHOLDERS' FUNDS 126,832 90,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





R C Irani - Director


ORTHOSOLE WORLDWIDE LIMITED (REGISTERED NUMBER: 10000407)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Orthosole Worldwide 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. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible fixed assets are included at fair value less any provision for amortisation or impairment. Patents held by the company and generally considered to have a useful economic life of 10 years.

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.

3. EMPLOYEES AND DIRECTORS

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

ORTHOSOLE WORLDWIDE LIMITED (REGISTERED NUMBER: 10000407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2022
and 31 July 2023 200,000
AMORTISATION
At 1 August 2022 40,000
Charge for year 20,000
At 31 July 2023 60,000
NET BOOK VALUE
At 31 July 2023 140,000
At 31 July 2022 160,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 1,063 346
Prepayments and accrued income 64,500 -
65,563 346

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 839 -
Other creditors 76,693 74,653
Directors' current accounts 1,400 1,400
78,932 76,053

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

Athena Pacific Ltd is a related party due to it having common directors and shareholders. At the balance sheet date the company owed £76,693 (2022: £74,653) to Athena Pacific Ltd.

9. ULTIMATE CONTROLLING PARTY

There is no individual controlling party, however Mr and Mrs Irani jointly hold a controlling interest.