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Registration number: 11790578

Neat Work Orthopaedics Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Neat Work Orthopaedics Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Neat Work Orthopaedics Limited

Company Information

Director

S Thomas

Registered office

Millstream House
Madam'S Paddock
Chew Magna
BS40 8PN

Accountants

Burton Sweet Limited
6 Morston Court
Aisecome Way
Weston-super-Mare
BS22 8NG

 

Neat Work Orthopaedics Limited

(Registration number: 11790578)
Balance Sheet
31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,727

2,020

Current assets

 

Debtors

5

103,739

108,734

Other financial assets

41,654

40,000

Cash at bank and in hand

 

99,668

85,842

 

245,061

234,576

Creditors: Amounts falling due within one year

6

(85,086)

(79,889)

Net current assets

 

159,975

154,687

Total assets less current liabilities

 

161,702

156,707

Provisions for liabilities

(432)

(384)

Net assets

 

161,270

156,323

Capital and reserves

 

Called up share capital

100

100

Retained earnings

161,170

156,223

Shareholders' funds

 

161,270

156,323

 

Neat Work Orthopaedics Limited

(Registration number: 11790578)
Balance Sheet
31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 23 April 2024
 

.........................................
S Thomas
Director

 

Neat Work Orthopaedics Limited

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Millstream House
Madam'S Paddock
Chew Magna
BS40 8PN
United Kingdom

These financial statements were authorised for issue by the director on 23 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of vat, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Neat Work Orthopaedics Limited

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Reducing balance

Office equipment

33% Straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

Neat Work Orthopaedics Limited

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 February 2023

1,794

5,650

7,444

Additions

-

499

499

At 31 January 2024

1,794

6,149

7,943

Depreciation

At 1 February 2023

453

4,971

5,424

Charge for the year

268

524

792

At 31 January 2024

721

5,495

6,216

Carrying amount

At 31 January 2024

1,073

654

1,727

At 31 January 2023

1,341

679

2,020

 

Neat Work Orthopaedics Limited

Notes to the Unaudited Financial Statements
Year Ended 31 January 2024

5

Debtors

2024
£

2023
£

Trade debtors

103,740

107,032

Prepayments

(1)

1,702

103,739

108,734

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

2,108

119

Taxation and social security

 

59,611

47,346

Other creditors

 

23,367

32,424

 

85,086

79,889