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REGISTERED NUMBER: 11066998 (England and Wales)















PH Orthopaedics Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






PH Orthopaedics Limited (Registered number: 11066998)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PH Orthopaedics Limited

Company Information
for the year ended 31 December 2023







DIRECTOR: P Holland





REGISTERED OFFICE: 28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA





REGISTERED NUMBER: 11066998 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

PH Orthopaedics Limited (Registered number: 11066998)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 2,448 3,264
Investments 5 1,500 1,500
3,948 4,764

CURRENT ASSETS
Debtors 6 7,926 6,580
Cash at bank 125,224 67,349
133,150 73,929
CREDITORS
Amounts falling due within one year 7 30,216 25,396
NET CURRENT ASSETS 102,934 48,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,882

53,297

PROVISIONS FOR LIABILITIES 8 612 620
NET ASSETS 106,270 52,677

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 106,170 52,577
SHAREHOLDERS' FUNDS 106,270 52,677

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

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

The director acknowledges his 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.

PH Orthopaedics Limited (Registered number: 11066998)

Balance Sheet - continued
31 December 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 director and authorised for issue on 1 March 2024 and were signed by:





P Holland - Director


PH Orthopaedics Limited (Registered number: 11066998)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

PH Orthopaedics 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 (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

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.

PH Orthopaedics Limited (Registered number: 11066998)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments in non-quoted entities are stated at the lower of cost and recoverable amounts due to the nature of the investment as such investments are not held for re-sale in the short or medium term. Any income, profits or losses arising from the investments are recognised on an accruals basis when company becomes legally entitled to them.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 January 2023
and 31 December 2023 5,219
DEPRECIATION
At 1 January 2023 1,955
Charge for year 816
At 31 December 2023 2,771
NET BOOK VALUE
At 31 December 2023 2,448
At 31 December 2022 3,264

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 January 2023
and 31 December 2023 1,500
NET BOOK VALUE
At 31 December 2023 1,500
At 31 December 2022 1,500

The fixed asset investment represents a capital share of Cleveland Medical Services LLP, a limited liability partnership registered in England and Wales and which was incorporated in June 2020. This partnership specialises in arranging Orthopaedic medical care in the north of England. The value of the capital share is a minority share only.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 7,926 6,580

PH Orthopaedics Limited (Registered number: 11066998)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Corporation tax 27,471 9,651
Directors' current accounts 2,449 15,463
Accrued expenses 296 282
30,216 25,396

8. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 612 620

Deferred tax
£
Balance at 1 January 2023 620
Credit to Statement of Income and Retained Earnings during year (8 )
Balance at 31 December 2023 612

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

10. RELATED PARTY DISCLOSURES

In the opinion of the director the company is controlled by Mr P Holland, the director of the company.