IRIS Accounts Production v24.3.2.46 OC423111 designated member 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4231112023-06-30OC4231112024-06-30OC4231112023-07-012024-06-30OC4231112022-06-30OC4231112022-07-012023-06-30OC4231112023-06-30OC423111ns15:EnglandWales2023-07-012024-06-30OC423111ns14:PoundSterling2023-07-012024-06-30OC423111ns10:PartnerLLP12023-07-012024-06-30OC423111ns10:LimitedLiabilityPartnershipLLP2023-07-012024-06-30OC423111ns10:SmallEntities2023-07-012024-06-30OC423111ns10:AuditExemptWithAccountantsReport2023-07-012024-06-30OC423111ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-30OC423111ns10:LimitedLiabilityPartnershipsSORP2023-07-012024-06-30OC423111ns10:FullAccounts2023-07-012024-06-30OC423111ns10:PartnerLLP32023-07-012024-06-30OC423111ns10:PartnerLLP42023-07-012024-06-30OC423111ns10:PartnerLLP52023-07-012024-06-30OC423111ns10:PartnerLLP62023-07-012024-06-30OC423111ns10:RegisteredOffice2023-07-012024-06-30OC423111ns5:CurrentFinancialInstruments2024-06-30OC423111ns5:CurrentFinancialInstruments2023-06-30OC423111ns5:Non-currentFinancialInstruments2024-06-30OC423111ns5:Non-currentFinancialInstruments2023-06-30OC423111ns5:FurnitureFittings2023-07-012024-06-30OC423111ns5:ComputerEquipment2023-07-012024-06-30OC423111ns5:OwnedAssets2023-07-012024-06-30OC423111ns5:OwnedAssets2022-07-012023-06-30OC423111ns5:FurnitureFittings2023-06-30OC423111ns5:ComputerEquipment2023-06-30OC423111ns5:FurnitureFittings2024-06-30OC423111ns5:ComputerEquipment2024-06-30OC423111ns5:FurnitureFittings2023-06-30OC423111ns5:ComputerEquipment2023-06-30OC423111ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-30OC423111ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-30
REGISTERED NUMBER: OC423111 (England and Wales)












REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

General Information 1

Report of the Members 2

Report of the Accountants 3

Income Statement 4

Statement of Financial Position 5

Notes to the Financial Statements 7


ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DESIGNATED MEMBERS: Mr A M Noorani
Mr N Heidari-Khabbaz
Mr L Cascarini
Dr R S Khakha
FCAA Limited





REGISTERED OFFICE: Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: OC423111 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 30 JUNE 2024


The members present their report with the financial statements of the LLP for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of Orthopaedic specialist.

DESIGNATED MEMBERS
Prof. Adrian J Wilson (Resigned on 16th Aug 2024)
Mr A M Noorani
Mr N Heidari-Khabbaz
Mr R S Khakha
Mr L Cascarini
FCAA Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £38,959 (2023 - £318,771 profit).

MEMBERS' INTERESTS
The members take drawings in accordance with the partnership agreement and memorandum of understanding.The profits of the business are attributed firstly to meet the expenses and liabilities of the partnership, secondly to provide a contingency for future trading, thirdly to apply remuneration for those members engaged in the business and finally to allocation of profit between the partners as decided from time to time.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

ON BEHALF OF THE MEMBERS:





FCAA Limited - Designated member


28 March 2025

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP

REPORT OF THE ACCOUNTANTS TO THE MEMBERS OF
ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP



In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Limited Liability Partnership for the period ended 30 June 2024 from the accounting records and information and explanations you have given to us.

This report is made to the Partners, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the partners that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Limited Liability Partnership and the Partners, as a body, for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and abide by the ethical guidance laid down by the Institute relating to the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 30 June 2024 your duty to ensure that the Limited Liability Partnership has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the Limited Liability Partnership is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES


28 March 2025

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 7,513,501 6,581,348

Cost of sales 5,276,299 4,807,618
GROSS PROFIT 2,237,202 1,773,730

Administrative expenses 2,198,253 1,453,881
38,949 319,849

Other operating income 1,666 -
OPERATING PROFIT 4 40,615 319,849

Interest receivable and similar income 317 -
40,932 319,849

Interest payable and similar expenses 1,973 1,078
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




38,959




318,771

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 19,968 14,306

CURRENT ASSETS
Debtors 6 1,334,704 1,311,983
Cash at bank 930,187 983,622
2,264,891 2,295,605
CREDITORS
Amounts falling due within one year 7 1,919,469 1,732,592
NET CURRENT ASSETS 345,422 563,013
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,390

577,319

CREDITORS
Amounts falling due after more than one
year

8

21,667

31,667
NET ASSETS ATTRIBUTABLE TO
MEMBERS

343,723

545,652

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 343,723 545,652
343,723 545,652

TOTAL MEMBERS' INTERESTS
Members' other interests 343,723 545,652

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 28 March 2025 and were signed by:





FCAA Limited - Designated member

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Orthopaedic Specialist Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the members are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the members to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

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.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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 recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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, bank loans, loans from fellow group companies and that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 13 (2023 - 14 ) .

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 8,030 7,036

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 July 2023 5,274 23,170 28,444
Additions 1,575 12,117 13,692
At 30 June 2024 6,849 35,287 42,136
Depreciation
At 1 July 2023 2,792 11,346 14,138
Charge for year 1,453 6,577 8,030
At 30 June 2024 4,245 17,923 22,168
Net book value
At 30 June 2024 2,604 17,364 19,968
At 30 June 2023 2,482 11,824 14,306

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 810,706 913,728
Other debtors 523,998 398,255
1,334,704 1,311,983

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 644,553 541,182
Taxation and social security 22,075 25,048
Other creditors 1,252,841 1,166,362
1,919,469 1,732,592

ORTHOPAEDIC SPECIALIST PARTNERSHIP LLP (REGISTERED NUMBER: OC423111)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 21,667 31,667