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Company No: SC747013 (Scotland)

CM ORTHOPAEDICS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 11 OCTOBER 2022 TO 30 SEPTEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

CM ORTHOPAEDICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 11 OCTOBER 2022 TO 30 SEPTEMBER 2023

Contents

CM ORTHOPAEDICS LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2023
CM ORTHOPAEDICS LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2023
Note 30.09.2023
£
Fixed assets
Tangible assets 3 753
753
Current assets
Debtors 16,769
Cash at bank and in hand 128,379
145,148
Creditors: amounts falling due within one year 4 ( 57,631)
Net current assets 87,517
Total assets less current liabilities 88,270
Provision for liabilities 5 ( 188)
Net assets 88,082
Capital and reserves
Called-up share capital 6 10
Profit and loss account 88,072
Total shareholder's funds 88,082

For the financial period ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of CM Orthopaedics Limited (registered number: SC747013) were approved and authorised for issue by the Board of Directors on 26 August 2024. They were signed on its behalf by:

Christopher Munro
Director
CM ORTHOPAEDICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 11 OCTOBER 2022 TO 30 SEPTEMBER 2023
CM ORTHOPAEDICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 11 OCTOBER 2022 TO 30 SEPTEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

CM Orthopaedics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 1 Oldman Road, Maryculter, Aberdeen, AB12 5BZ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The Company was incorporated on 11 October 2022 and has decided to prepare its accounts to 30 September 2023 therefore these accounts are prepared for a period of less than 12 months.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand with original maturities of three months or less.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
11.10.2022 to
30.09.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Computer equipment Total
£ £
Cost
At 11 October 2022 0 0
Additions 874 874
At 30 September 2023 874 874
Accumulated depreciation
At 11 October 2022 0 0
Charge for the financial period 121 121
At 30 September 2023 121 121
Net book value
At 30 September 2023 753 753

4. Creditors: amounts falling due within one year

30.09.2023
£
Taxation and social security 23,511
Other creditors 34,120
57,631

5. Deferred tax

30.09.2023
£
At the beginning of financial period 0
Charged to the Profit and Loss Account ( 188)
At the end of financial period ( 188)

6. Called-up share capital

30.09.2023
£
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10

7. Related party transactions

Transactions with the entity's directors

30.09.2023
£
Amounts owed by director's 10

This loan is interest free and there are no fixed terms of repayment.