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REGISTERED NUMBER: 06455444 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Prosthetic Innovations Limited

Prosthetic Innovations Limited (Registered number: 06455444)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Prosthetic Innovations Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Miss J McPhail





REGISTERED OFFICE: Birch House
Oram Road
Brindle
Chorley
Lancashire
PR6 8NT





REGISTERED NUMBER: 06455444 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Prosthetic Innovations Limited (Registered number: 06455444)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,883 1,374
Investment property 5 - 275,180
1,883 276,554

CURRENT ASSETS
Debtors 6 54,935 61,784
Cash at bank 303,687 651,467
358,622 713,251
CREDITORS
Amounts falling due within one year 7 82,263 289,555
NET CURRENT ASSETS 276,359 423,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,242

700,250

PROVISIONS FOR LIABILITIES 471 323
NET ASSETS 277,771 699,927

CAPITAL AND RESERVES
Called up share capital 170 170
Retained earnings 277,601 699,757
SHAREHOLDERS' FUNDS 277,771 699,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Prosthetic Innovations Limited (Registered number: 06455444)

Statement of Financial Position - continued
31 December 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 director and authorised for issue on 25 February 2025 and were signed by:





Miss J McPhail - Director


Prosthetic Innovations Limited (Registered number: 06455444)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Prosthetic Innovations Limited 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.

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.
Improvements to property - 20% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Prosthetic Innovations Limited (Registered number: 06455444)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 January 2024 5,100 4,740 18,418 28,258
Additions - - 1,780 1,780
At 31 December 2024 5,100 4,740 20,198 30,038
DEPRECIATION
At 1 January 2024 5,100 4,740 17,044 26,884
Charge for year - - 1,271 1,271
At 31 December 2024 5,100 4,740 18,315 28,155
NET BOOK VALUE
At 31 December 2024 - - 1,883 1,883
At 31 December 2023 - - 1,374 1,374

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 275,180
Disposals (275,180 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 275,180

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 46,320 58,416
Amounts owed by group undertakings - 3,000
Other debtors 8,615 368
54,935 61,784

Prosthetic Innovations Limited (Registered number: 06455444)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Taxation and social security 81,412 82,605
Other creditors 851 206,950
82,263 289,555

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
Miss J McPhail
Balance outstanding at start of year (206,300 ) (2,634 )
Amounts advanced 271,562 6,649
Amounts repaid (57,040 ) (210,315 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,222 (206,300 )

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The controlling party is McPhail Holdings Limited.