Company registration number 13313316 (England and Wales)
CPM ORTHO 1 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
CPM ORTHO 1 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CPM ORTHO 1 LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,770
494
Current assets
Debtors
4
97,204
34,938
Cash at bank and in hand
127,836
40,634
225,040
75,572
Creditors: amounts falling due within one year
5
(44,722)
(14,120)
Net current assets
180,318
61,452
Total assets less current liabilities
183,088
61,946
Provisions for liabilities
(693)
(124)
Net assets
182,395
61,822
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
182,295
61,722
Total equity
182,395
61,822

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 31 January 2025
Dr CP McGarvey
Director
Company registration number 13313316 (England and Wales)
CPM ORTHO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

CPM Ortho 1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is RMT Accountants & Business Advisors Ltd, Gosforth Park Avenue, Newcastle upon Tyne, NE12 8EG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for specialist medical services net of trade discounts. Turnover is attributable to the continuing principal activity of the company and arose wholly within the United Kingdom.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% straight line
1.4
Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks,

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

CPM ORTHO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Total
1
1
CPM ORTHO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 May 2023
1,098
Additions
3,204
Disposals
(1,098)
At 30 April 2024
3,204
Depreciation
At 1 May 2023
604
Depreciation charged in the year
615
Eliminated in respect of disposals
(785)
At 30 April 2024
434
Carrying amount
At 30 April 2024
2,770
At 30 April 2023
494
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
94,100
32,647
Prepayments and accrued income
3,104
2,291
97,204
34,938
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
38,946
11,270
Other creditors
3,856
930
Accruals and deferred income
1,920
1,920
44,722
14,120
CPM ORTHO 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
90 Ordinary shares of £1 each
90
90
10 Ordinary A shares of £1 each
10
10
100
100
7
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Directors
2,855
930

There are no set terms as to repayment of this balance and no interest accrued.

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