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Registration number: 09402557

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

Contents

Company Information

1

Statement of Director's Responsibilities

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

Company Information

Director

Mr Simon Kirby

Company secretary

Mrs Laura Kirby

Registered office

7 Cams Ground
Highnam
Gloucester
GL2 8LZ

Accountants

Cashtrac Ltd
15 Westgate House
Westgate Street
Gloucester
Gloucestershire
GL1 2RU

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

Statement of Director's Responsibilities

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 section 1A, the Financial Reporting Standard applicable to the Small Entities Regime. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

(Registration number: 09402557)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,425

1,899

Current assets

 

Stocks

5

575

2,800

Cash at bank and in hand

 

15,137

16,537

 

15,712

19,337

Creditors: Amounts falling due within one year

6

(11,719)

(10,456)

Net current assets

 

3,993

8,881

Total assets less current liabilities

 

5,418

10,780

Creditors: Amounts falling due after more than one year

6

(3,850)

(6,603)

Net assets

 

1,568

4,177

Capital and reserves

 

Retained earnings

1,568

4,177

Shareholders' funds

 

1,568

4,177

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2024
 

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

(Registration number: 09402557)
Balance Sheet as at 31 January 2024

.........................................
Mr Simon Kirby
Director

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

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

1

General information

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

The address of its registered office is:
7 Cams Ground
Highnam
Gloucester
GL2 8LZ
United Kingdom

The principal place of business is:
124 Stroud Road
Gloucester
GL1 5JN

These financial statements were authorised for issue by the director on 31 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.

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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

Motor Vehicles

25% reducing balance

Office Equipment

25% reducing balance

Plant & Machinery

25% reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

1,291

1,750

1,796

4,837

At 31 January 2024

1,291

1,750

1,796

4,837

Depreciation

At 1 February 2023

902

1,119

917

2,938

Charge for the year

97

158

219

474

At 31 January 2024

999

1,277

1,136

3,412

Carrying amount

At 31 January 2024

292

473

660

1,425

At 31 January 2023

389

631

879

1,899

5

Stocks

2024
£

2023
£

Raw materials and consumables

575

2,800

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

3,150

3,600

Taxation and social security

 

8,611

6,832

Other creditors

 

(42)

24

 

11,719

10,456

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

3,850

6,603

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,850

6,603

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,150

3,375

Bank overdrafts

-

225

3,150

3,600

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £3,670.00 per each Ordinary

36,700

36,700

 

 

10

Related party transactions

 

Kirby Prosthetics Studio Limited

trading as Kirby Prosthetics Studio Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,564

12,564