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Registration number: 04074774

Sport and Orthopaedic Clinic (Bristol) Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Company Information

Directors

Mr Mark Andrew Crowther

Mr John Hardy

Mr Anthony Joseph Ward

Mr Stephen Hepple

Mr William John Harries

Mr Mehool Acharya

Mr Ian Geoffrey Winson

Mr Philip Andrew McCann

Mr Iain Nicholas Packham

Mr Stephen John Eastaugh-Waring

Company secretary

Mr John Hardy

Registered office

Spire Hospital
Redland Hill
Durdham Down
Bristol
BS6 6UT

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Sport and Orthopaedic Clinic (Bristol) Ltd

(Registration number: 04074774)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

         

Fixed assets

   

Tangible assets

4

 

15,313

5,806

Investment property

5

 

539,111

539,111

   

554,424

544,917

Current assets

   

Debtors

6

317,704

 

357,735

Cash at bank and in hand

 

309,901

 

329,506

 

627,605

 

687,241

Creditors: Amounts falling due within one year

7

(665,353)

 

(675,687)

Net current (liabilities)/assets

   

(37,748)

11,554

Total assets less current liabilities

   

516,676

556,471

Creditors: Amounts falling due after more than one year

7

 

(250,087)

(259,448)

Net assets

   

266,589

297,023

Capital and reserves

   

Called up share capital

200

 

200

Share premium reserve

52,753

 

52,753

Retained earnings

213,636

 

244,070

Shareholders' funds

   

266,589

297,023

For the financial year ending 29 February 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.

 

Sport and Orthopaedic Clinic (Bristol) Ltd

(Registration number: 04074774)
Balance Sheet as at 29 February 2024

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 23 October 2024 and signed on its behalf by:
 

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

Mr John Hardy
Company secretary and director

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

Mr William John Harries
Director

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
Spire Hospital
Redland Hill
Durdham Down
Bristol
BS6 6UT

These financial statements were authorised for issue by the Board on 23 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.

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and Machinery

25% Reducing Balance

Fixtures and Fittings

25% Reducing Balance

Computer Equipment

33% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (excluding directors) during the year, was 8 (2023 - 7).

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

28,512

16,609

85,740

130,861

Additions

-

-

14,620

14,620

At 29 February 2024

28,512

16,609

100,360

145,481

Depreciation

At 1 March 2023

28,012

16,299

80,744

125,055

Charge for the year

126

78

4,909

5,113

At 29 February 2024

28,138

16,377

85,653

130,168

Carrying amount

At 29 February 2024

374

232

14,707

15,313

At 28 February 2023

500

310

4,996

5,806

5

Investment properties

2024
£

At 1 March

539,111

At 29 February

539,111

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Trade debtors

312,512

353,109

Prepayments

1,788

2,362

Other debtors

3,404

2,264

 

317,704

357,735

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9,936

10,380

Trade creditors

 

4,549

3,158

Taxation and social security

 

7,799

-

Accruals and deferred income

 

95,590

43,002

Other creditors

 

547,479

619,147

 

665,353

675,687

The bank loan is secured via a fixed and floating charge over the assets of the company.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

250,087

259,448

The bank loan is secured via a fixed and floating charge over the assets of the company.

 

Sport and Orthopaedic Clinic (Bristol) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

The company was under the control of J R W Hardy, W J Harries, I G Winson, S Hepple, A J Ward, M Crowther, I Packham, M Acharya, S Eastaugh-Waring and P McCann throughout the current and previous year.

Each of the above own 10% of the ordinary shares.

Back in year ended 28 February 2015 some of the directors made loans to the company on which interest was charged at 4.75% per annum with no fixed repayment terms. These loans are included as long term creditors.

The total loans were as follows;

2024
 £

2023
 £

J R W Hardy

(50,000)

(50,000)

W J Harries

(30,000)

(30,000)

A J Ward

(40,000)

(40,000)

M Crowther

(30,000)

(30,000)

S Hepple

(25,000)

(25,000)

I Winson

(25,000)

(25,000)

(200,000)

(200,000)