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REGISTERED NUMBER: 06913272 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2023

for

Orthospecialist Ltd

Orthospecialist Ltd (Registered number: 06913272)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Orthospecialist Ltd (Registered number: 06913272)

Balance Sheet
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,597 29,620

CURRENT ASSETS
Debtors 5 40,645 46,343
Investments 6 652,233 502,777
Cash at bank 465,985 377,346
1,158,863 926,466
CREDITORS
Amounts falling due within one year 7 277,751 272,275
NET CURRENT ASSETS 881,112 654,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,709

683,811

CREDITORS
Amounts falling due after more than one year 8 (41,515 ) (57,705 )

PROVISIONS FOR LIABILITIES (5,358 ) (5,392 )
NET ASSETS 863,836 620,714

CAPITAL AND RESERVES
Called up share capital 10 102 101
Retained earnings 863,734 620,613
SHAREHOLDERS' FUNDS 863,836 620,714

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

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

Orthospecialist Ltd (Registered number: 06913272)

Balance Sheet - continued
31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th February 2024 and were signed on its behalf by:





Dr Y Kalairajah - Director


Orthospecialist Ltd (Registered number: 06913272)

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

1. COMPANY INFORMATION

Orthospecialist Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06913272

Registered office: First floor
49 Peter Street
Manchester
M2 3NG

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.

Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on reducing balance

Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Orthospecialist Ltd (Registered number: 06913272)

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

Current asset investments
Investments held as current assets such as listed share portfolios are measured at fair value. At each reporting date the increase/(decrease) in fair value is recognised immediately in the income statement:

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st June 2022 9,248 47,634 56,882
Additions 8,959 - 8,959
At 31st May 2023 18,207 47,634 65,841
DEPRECIATION
At 1st June 2022 4,017 23,245 27,262
Charge for year 4,104 4,878 8,982
At 31st May 2023 8,121 28,123 36,244
NET BOOK VALUE
At 31st May 2023 10,086 19,511 29,597
At 31st May 2022 5,231 24,389 29,620

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st June 2022
and 31st May 2023 47,634
DEPRECIATION
At 1st June 2022 23,245
Charge for year 4,878
At 31st May 2023 28,123
NET BOOK VALUE
At 31st May 2023 19,511
At 31st May 2022 24,389

Orthospecialist Ltd (Registered number: 06913272)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 39,322 44,623
Prepayments and accrued income 1,323 1,720
40,645 46,343

6. CURRENT ASSET INVESTMENTS
31.5.23 31.5.22
£    £   
Listed investments 63,250 64,387
Unlisted investments 588,983 438,390
652,233 502,777
Market value of listed investments at 31st May 2023 - £ 63,250 (2022 - £ 64,387 ).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other loans 189,657 185,275
Hire purchase contracts 6,301 6,301
Trade creditors 2 (1 )
Tax 73,412 80,280
Social security and other taxes 2,057 (42 )
Other creditors 5,786 -
Directors' current accounts 536 462
277,751 272,275

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Other loans - 1-2 years 10,128 10,000
Other loans - 2-5 years 14,857 24,872
Hire purchase contracts 16,530 22,833
41,515 57,705

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Hire purchase contracts 22,831 -

The hire purchase creditor is secured on the asset it is financing.

Orthospecialist Ltd (Registered number: 06913272)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
60 Ordinary A £1 60 60
40 Ordinary B £1 40 40
1 Ordinary C £1 1 1
101 101

On 8 September 2022 1 Ordinary D share of £1 was issued at par.

The A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The B, C and D Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

All shares rank pari passu in respect of dividend and capital distribution rights.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st May 2023 and 31st May 2022:

31.5.23 31.5.22
£    £   
Dr Y Kalairajah and Mrs C Lakshmanan
Balance outstanding at start of year (462 ) (5,337 )
Amounts advanced 202,311 127,583
Amounts repaid (202,366 ) (122,708 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (517 ) (462 )

The loan is repayable on demand and no interest has been charged during the year.

12. CONTROL

The ultimate controlling party is Dr Y Kalairajah by virtue of holding 100% of the voting share capital.