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REGISTERED NUMBER: 07288649 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Morgan Steer Orthopaedics Limited

Morgan Steer Orthopaedics Limited (Registered number: 07288649)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Morgan Steer Orthopaedics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P J Seddon
M J Jelley
R G Cradduck





REGISTERED OFFICE: 9 Furnace House
Narborough Wood Business Park
Desford Road, Enderby
Leicester
Leicestershire
LE19 4XT





REGISTERED NUMBER: 07288649 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Morgan Steer Orthopaedics Limited (Registered number: 07288649)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 699 931
Tangible assets 5 3,728 5,687
4,427 6,618

CURRENT ASSETS
Stocks 411,145 330,171
Debtors 6 352,156 273,429
Cash at bank 213,637 56,150
976,938 659,750
CREDITORS
Amounts falling due within one year 7 (470,364 ) (503,346 )
NET CURRENT ASSETS 506,574 156,404
TOTAL ASSETS LESS CURRENT
LIABILITIES

511,001

163,022

CREDITORS
Amounts falling due after more than one
year

8

(79,743

)

(160,171

)
NET ASSETS 431,258 2,851

CAPITAL AND RESERVES
Called up share capital 94 78
Capital redemption reserve 30 30
Share premium 427,755 -
Retained earnings 3,379 2,743
SHAREHOLDERS' FUNDS 431,258 2,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Morgan Steer Orthopaedics Limited (Registered number: 07288649)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2024 and were signed on its behalf by:





M J Jelley - Director


Morgan Steer Orthopaedics Limited (Registered number: 07288649)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Morgan Steer 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.

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.

Going concern
The financial statements have been prepared on the going concern basis which assumes the company will continue to trade. This depends on the ability of the directors to maintain the necessary financial support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of four to ten years.

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 - 33% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Morgan Steer Orthopaedics Limited (Registered number: 07288649)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Trademarks
£   
COST
At 1 April 2023
and 31 March 2024 3,602
AMORTISATION
At 1 April 2023 2,671
Amortisation for year 232
At 31 March 2024 2,903
NET BOOK VALUE
At 31 March 2024 699
At 31 March 2023 931

Morgan Steer Orthopaedics Limited (Registered number: 07288649)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 13,502 10,714 17,645 12,610 54,471
Additions - - - 1,390 1,390
At 31 March 2024 13,502 10,714 17,645 14,000 55,861
DEPRECIATION
At 1 April 2023 11,973 9,601 17,645 9,565 48,784
Charge for year 1,277 558 - 1,514 3,349
At 31 March 2024 13,250 10,159 17,645 11,079 52,133
NET BOOK VALUE
At 31 March 2024 252 555 - 2,921 3,728
At 31 March 2023 1,529 1,113 - 3,045 5,687

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 218,865 130,869
Other debtors 133,291 142,560
352,156 273,429

Other debtors includes prepayments and accrued income of £96,239 (2023: £4,058).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 124,677 79,918
Trade creditors 152,366 358,277
Taxation and social security 7,174 3,480
Other creditors 186,147 61,671
470,364 503,346

Other creditors includes accruals and deferred income of £5,765 (2023: £10,600).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 79,743 160,171

Morgan Steer Orthopaedics Limited (Registered number: 07288649)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Factoring account 173,408 44,097
Bank loan 96,750 136,167
270,158 180,264

The factoring account is secured over the trade debtors of the company.

The bank loan is secured over the assets of the company.

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £27,620 (2023: £55,240).