Company registration number 07371657 (England and Wales)
THE HIP & KNEE CLINIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
THE HIP & KNEE CLINIC LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THE HIP & KNEE CLINIC LIMITED
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
60,746
73,293
Current assets
Debtors
4
30,487
36,286
Cash at bank and in hand
370,123
292,179
400,610
328,465
Creditors: amounts falling due within one year
5
(147,832)
(83,268)
Net current assets
252,778
245,197
Total assets less current liabilities
313,524
318,490
Creditors: amounts falling due after more than one year
6
-
0
(60,970)
Provisions for liabilities
(15,186)
(18,323)
Net assets
298,338
239,197
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
298,238
239,097
Total equity
298,338
239,197

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

For the financial year ended 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 HIP & KNEE CLINIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2024
05 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 April 2025 and are signed on its behalf by:
Mr J P Whittaker
Director
Company Registration No. 07371657
THE HIP & KNEE CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 3 -
1
Accounting policies
Company information

The Hip & Knee Clinic Limited is a private company limited by shares incorporated in England and Wales. The registered office is Champion Allwoods Limited, 2nd Floor Refuge House, 33-37 Watergate Row, Chester, CH1 2LE.

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

The turnover shown in the profit and loss account represents medical fee income at invoice value. Turnover is recognised at the time the service is provided.

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:

Fixtures and fittings
25% Straight Line
Equipment
25% Straight Line
Motor vehicles
20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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.

THE HIP & KNEE CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

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

2024
2023
Number
Number
Total
3
2
THE HIP & KNEE CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Equipment
Motor vehicles
Total
£
£
£
£
Cost
At 6 April 2023
985
9,735
112,321
123,041
Additions
813
2,870
-
0
3,683
Disposals
-
0
(3,395)
-
0
(3,395)
At 5 April 2024
1,798
9,210
112,321
123,329
Depreciation and impairment
At 6 April 2023
983
8,330
40,435
49,748
Depreciation charged in the year
203
1,650
14,377
16,230
Eliminated in respect of disposals
-
0
(3,395)
-
0
(3,395)
At 5 April 2024
1,186
6,585
54,812
62,583
Carrying amount
At 5 April 2024
612
2,625
57,509
60,746
At 5 April 2023
2
1,405
71,886
73,293
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
12,010
25,809
Other debtors
17,504
9,494
Prepayments and accrued income
973
983
30,487
36,286
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
60,970
14,705
Trade creditors
11,137
10,322
Corporation tax
63,931
51,941
Other taxation and social security
304
320
Accruals and deferred income
11,490
5,980
147,832
83,268

The above obligations under finance leases are secured by the company.

THE HIP & KNEE CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
-
0
60,970

The above obligations under finance leases are secured by the company.

7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
8
Related Party Transactions

The company is a founder member of Oswestry Orthopaedics LLP. The company's share of profits of the LLP for the year to 31 March 2024 was £6,154 (2023 - £16,338) of which £6,154 was due from the LLP at 5 April 2024 (2023 - £3,457).

 

Included in other debtors at 5 April 2024 is £11,291 which was due to the company from Mr J P Whittaker and Mrs A J Whittaker in respect of their overdrawn balance on their joint directors' current account with the company. No interest was charged on this balance. The maximum outstanding during the year was £15,275. This overdrawn balance has been cleared since 5 April 2024, via offset from dividends voted by the company to Mr J P Whittaker and Mrs A J Whittaker.

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