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REGISTERED NUMBER: 14063095 (England and Wales)















CORIEL ORTHOPAEDICS GROUP LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






CORIEL ORTHOPAEDICS GROUP LTD (REGISTERED NUMBER: 14063095)

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


CORIEL ORTHOPAEDICS GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Z U Abiddin
A Bruce
P G Haslam
S Macinnes
D Morell
S Thiagarajah
A Wilkinson
M C Papanna





REGISTERED OFFICE: 138 Beckett Road
Doncaster
South Yorkshire
DN2 4BA





REGISTERED NUMBER: 14063095 (England and Wales)





ACCOUNTANTS: Duncan Chartered Accountants
5 Cherrytree
Union Road
Sheffield
South Yorkshire
S11 9EF

CORIEL ORTHOPAEDICS GROUP LTD (REGISTERED NUMBER: 14063095)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 481,196 24,330

CURRENT ASSETS
Debtors 5 105,858 92,221
Cash at bank 399,591 460,318
505,449 552,539
CREDITORS
Amounts falling due within one year 6 286,885 174,132
NET CURRENT ASSETS 218,564 378,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

699,760

402,737

CREDITORS
Amounts falling due after more than one
year

7

(591,669

)

(350,669

)

PROVISIONS FOR LIABILITIES (7,977 ) (5,170 )
NET ASSETS 100,114 46,898

CAPITAL AND RESERVES
Called up share capital 160 160
Retained earnings 99,954 46,738
100,114 46,898

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.

CORIEL ORTHOPAEDICS GROUP LTD (REGISTERED NUMBER: 14063095)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





D Morell - Director


CORIEL ORTHOPAEDICS GROUP LTD (REGISTERED NUMBER: 14063095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Coriel Orthopaedics Group Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

CORIEL ORTHOPAEDICS GROUP LTD (REGISTERED NUMBER: 14063095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 3,650 22,978 - 26,628
Additions 457,700 7,844 4,034 469,578
At 31 March 2024 461,350 30,822 4,034 496,206
DEPRECIATION
At 1 April 2023 - 2,298 - 2,298
Charge for year 9,227 3,082 403 12,712
At 31 March 2024 9,227 5,380 403 15,010
NET BOOK VALUE
At 31 March 2024 452,123 25,442 3,631 481,196
At 31 March 2023 3,650 20,680 - 24,330

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 105,698 92,061
Other debtors 160 160
105,858 92,221

CORIEL ORTHOPAEDICS GROUP LTD (REGISTERED NUMBER: 14063095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 55,000 -
Trade creditors 668 3,246
Taxation and social security 11,274 6,848
Accrued expenses 219,943 164,038
286,885 174,132

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 60,000 -
Bank loans - 2-5 years 185,000 -
Other creditors 346,669 350,669
591,669 350,669

8. RELATED PARTY DISCLOSURES

Other creditors of £346,669 (2023: £350,669) comprises loans made to Coriel Orthopaedics Group Ltd by companies in which the directors are shareholders. The movement in the total amount loaned is as follows:

Opening balance: £350,669
Introduced: £10,000
Repaid: £14,000
Closing balance: £346,669

Repayment terms have been agreed and interest is being paid at 5.25%

In addition, during the year, Coriel Orthopaedics Group Ltd purchased services from these companies totalling £1,080,633. At the year end £216,930 of accrued amounts are included within Accrued expenses.