IRIS Accounts Production v23.1.0.753 10652988 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure106529882022-05-31106529882023-05-31106529882022-06-012023-05-31106529882021-05-31106529882021-06-012022-05-31106529882022-05-3110652988ns16:EnglandWales2022-06-012023-05-3110652988ns15:PoundSterling2022-06-012023-05-3110652988ns11:Director12022-06-012023-05-3110652988ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3110652988ns11:SmallEntities2022-06-012023-05-3110652988ns11:AuditExempt-NoAccountantsReport2022-06-012023-05-3110652988ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3110652988ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-3110652988ns11:FullAccounts2022-06-012023-05-311065298812022-06-012023-05-3110652988ns11:Director22022-06-012023-05-3110652988ns11:RegisteredOffice2022-06-012023-05-3110652988ns6:CurrentFinancialInstruments2023-05-3110652988ns6:CurrentFinancialInstruments2022-05-3110652988ns6:Non-currentFinancialInstruments2023-05-3110652988ns6:Non-currentFinancialInstruments2022-05-3110652988ns6:ShareCapital2023-05-3110652988ns6:ShareCapital2022-05-3110652988ns6:RetainedEarningsAccumulatedLosses2023-05-3110652988ns6:RetainedEarningsAccumulatedLosses2022-05-3110652988ns6:NetGoodwill2022-06-012023-05-3110652988ns6:PlantMachinery2022-06-012023-05-3110652988ns6:NetGoodwill2022-05-3110652988ns6:NetGoodwill2023-05-3110652988ns6:NetGoodwill2022-05-3110652988ns6:ComputerEquipment2022-05-3110652988ns6:ComputerEquipment2022-06-012023-05-3110652988ns6:ComputerEquipment2023-05-3110652988ns6:ComputerEquipment2022-05-3110652988ns6:Non-currentFinancialInstruments2022-06-012023-05-3110652988ns6:DeferredTaxation2022-05-3110652988ns6:DeferredTaxation2022-06-012023-05-3110652988ns6:DeferredTaxation2023-05-3110652988ns6:RetainedEarningsAccumulatedLosses2022-05-3110652988ns6:RetainedEarningsAccumulatedLosses2022-06-012023-05-31
REGISTERED NUMBER: 10652988 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Musculoskeletal Imaging & Education
Limited

Musculoskeletal Imaging & Education
Limited (Registered number: 10652988)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Musculoskeletal Imaging & Education
Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Dr A Grainger
Mrs S Grainger





REGISTERED OFFICE: 3 Park Square
Leeds
LS1 2NE





REGISTERED NUMBER: 10652988 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Musculoskeletal Imaging & Education
Limited (Registered number: 10652988)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,704 2,304
1,704 2,304

CURRENT ASSETS
Cash at bank 39,738 44,400

CREDITORS
Amounts falling due within one year 6 15,629 8,788
NET CURRENT ASSETS 24,109 35,612
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,813

37,916

CREDITORS
Amounts falling due after more than one
year

7

(3,802

)

(5,934

)

PROVISIONS FOR LIABILITIES 8 (324 ) (438 )
NET ASSETS 21,687 31,544

CAPITAL AND RESERVES
Called up share capital 3,000 3,000
Retained earnings 9 18,687 28,544
SHAREHOLDERS' FUNDS 21,687 31,544

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Musculoskeletal Imaging & Education
Limited (Registered number: 10652988)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:





Dr A Grainger - Director


Musculoskeletal Imaging & Education
Limited (Registered number: 10652988)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Musculoskeletal Imaging & Education 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 represents net invoiced sales of services provided, excluding value added tax.

Goodwill
Goodwill is depreciated on a straight line basis over 5 years or to fair value if less

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Musculoskeletal Imaging & Education
Limited (Registered number: 10652988)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 10,857
AMORTISATION
At 1 June 2022
and 31 May 2023 10,857
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022
and 31 May 2023 2,999
DEPRECIATION
At 1 June 2022 695
Charge for year 600
At 31 May 2023 1,295
NET BOOK VALUE
At 31 May 2023 1,704
At 31 May 2022 2,304

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 4,839 4,767
Bank loan 2,131 1,935
Directors' current accounts 337 586
Accrued expenses 8,322 1,500
15,629 8,788

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 3,802 5,934

Musculoskeletal Imaging & Education
Limited (Registered number: 10652988)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 324 438

Deferred
tax
£   
Balance at 1 June 2022 438
Credit to Income Statement during year (114 )
Balance at 31 May 2023 324

9. RESERVES
Retained
earnings
£   

At 1 June 2022 28,544
Profit for the year 20,143
Dividends (30,000 )
At 31 May 2023 18,687

10. RELATED PARTY DISCLOSURES

During the year the company paid dividends totalling £30,000 (2022: £24,000) to its directors.

11. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors.