Registered number
SC688357
GLASGOW ORTHOPAEDICS SCOTLAND LTD
88 Earlspark Avenue
Newlands
Glasgow
Filleted Accounts
for the period ended 31 March 2024
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: G138/TG
GLASGOW ORTHOPAEDICS SCOTLAND LTD
Registered number: SC688357
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,712 41,114
Current assets
Cash at bank and in hand 25,745 20,007
Creditors: amounts falling due within one year 4 (20,578) (12,902)
Net current assets 5,167 7,105
Total assets less current liabilities 43,879 48,219
Creditors: amounts falling due after more than one year 5 (342) (66)
Net assets 43,537 48,153
Capital and reserves
Called up share capital 100 100
Profit and loss account 43,437 48,053
Shareholders' funds 43,537 48,153
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Bilal Jamal
Director
Approved by the board on 23 August 2024
GLASGOW ORTHOPAEDICS SCOTLAND LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle 10% Reducing balance
Fixtures, fittings, tools and equipment 10% Reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 6,471 44,090 50,561
Additions 1,899 - 1,899
At 31 March 2024 8,370 44,090 52,460
Depreciation
At 1 April 2023 1,070 8,377 9,447
Charge for the year 730 3,571 4,301
At 31 March 2024 1,800 11,948 13,748
Net book value
At 31 March 2024 6,570 32,142 38,712
At 31 March 2023 5,401 35,713 41,114
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 17,410 11,462
Other creditors 3,168 1,440
20,578 12,902
5 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loan account 342 66
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