Orso Medical Limited 11764829 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is general medical practice activities Digita Accounts Production Advanced 6.30.9574.0 true true 11764829 2023-04-01 2024-03-31 11764829 2024-03-31 11764829 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 11764829 core:CurrentFinancialInstruments 2024-03-31 11764829 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11764829 core:OfficeEquipment 2024-03-31 11764829 bus:SmallEntities 2023-04-01 2024-03-31 11764829 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11764829 bus:FilletedAccounts 2023-04-01 2024-03-31 11764829 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11764829 bus:RegisteredOffice 2023-04-01 2024-03-31 11764829 bus:Director1 2023-04-01 2024-03-31 11764829 bus:Director2 2023-04-01 2024-03-31 11764829 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11764829 core:OfficeEquipment 2023-04-01 2024-03-31 11764829 countries:EnglandWales 2023-04-01 2024-03-31 11764829 2023-03-31 11764829 core:OfficeEquipment 2023-03-31 11764829 2022-04-01 2023-03-31 11764829 2023-03-31 11764829 core:CurrentFinancialInstruments 2023-03-31 11764829 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11764829 core:OfficeEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11764829

Orso Medical Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Orso Medical Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Orso Medical Limited

Company Information

Directors

Mrs Felicity Fay

Mr Dominic Fay

Registered office

2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Accountants

Stone and Co
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Orso Medical Limited

(Registration number: 11764829)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

         

Fixed assets

   

Tangible assets

4

 

326

233

Other financial assets

5

 

32,163

29,657

   

32,489

29,890

Current assets

   

Debtors

6

7,595

 

7,929

Cash at bank and in hand

 

78,875

 

50,743

 

86,470

 

58,672

Creditors: Amounts falling due within one year

7

(8,151)

 

(7,882)

Net current assets

   

78,319

50,790

Net assets

   

110,808

80,680

Capital and reserves

   

Called up share capital

2

 

2

Retained earnings

110,806

 

80,678

Shareholders' funds

   

110,808

80,680

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

.........................................

Mr Dominic Fay
Director

 

Orso Medical Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
United Kingdom

These financial statements were authorised for issue by the Board on 24 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Orso Medical Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Orso Medical Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Orso Medical Limited

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

1,453

1,453

Additions

315

315

At 31 March 2024

1,768

1,768

Depreciation

At 1 April 2023

1,220

1,220

Charge for the year

222

222

At 31 March 2024

1,442

1,442

Carrying amount

At 31 March 2024

326

326

At 31 March 2023

233

233

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

29,657

29,657

Revaluations

2,506

2,506

At 31 March 2024

32,163

32,163

Impairment

Carrying amount

At 31 March 2024

32,163

32,163

6

Debtors

 

Orso Medical Limited

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

Current

2024
£

2023
£

Trade debtors

6,158

7,929

Prepayments

1,437

-

 

7,595

7,929

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

6,950

6,550

Accruals and deferred income

1,200

1,200

Other creditors

1

132

8,151

7,882