SDM ORTHOPAEDICS LIMITED 31/08/2024 iXBRL

Company registration number: SC741449

SDM ORTHOPAEDICS LIMITED

Unaudited filleted financial statements

31 August 2024

SDM ORTHOPAEDICS LIMITED

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

SDM ORTHOPAEDICS LIMITED

Directors and other information


Directors	Dr Scott Middleton
	Dr Rosemary Hackney	(Appointed 27 September 2023)


Company number	SC741449


Business address	20 Barnton Street
	Stirling
	FK8 1NE


Accountants	Dickson Middleton
	20 Barnton Street
	Stirling
	FK8 1NE

SDM ORTHOPAEDICS LIMITED

Report to the board of directors on the preparation of the

unaudited statutory financial statements of SDM ORTHOPAEDICS LIMITED

Year ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SDM ORTHOPAEDICS LIMITED for the year ended 31 August 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of SDM ORTHOPAEDICS LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SDM ORTHOPAEDICS LIMITED and state those matters that we have agreed to state to the board of directors of SDM ORTHOPAEDICS LIMITED as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SDM ORTHOPAEDICS LIMITED and its board of directors as a body for our work or for this report.

It is your duty to ensure that SDM ORTHOPAEDICS LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SDM ORTHOPAEDICS LIMITED. You consider that SDM ORTHOPAEDICS LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SDM ORTHOPAEDICS LIMITED. 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 statutory financial statements.

Dickson Middleton

Chartered Accountants

20 Barnton Street

Stirling

FK8 1NE

31 March 2025

SDM ORTHOPAEDICS LIMITED

Statement of financial position

31 August 2024

		31/08/24		31/08/23
	Note	£	£	£	£

Fixed assets
Tangible assets	4	4,014		1,400
		_______		_______
			4,014		1,400

Current assets
Debtors	5	18,112		6,646
Cash at bank and in hand		39,540		2,814
		_______		_______
		57,652		9,460
Creditors: amounts falling due
within one year	6	( 14,949)		( 4,117)
		_______		_______
Net current assets			42,703		5,343
			_______		_______
Total assets less current liabilities			46,717		6,743

			_______		_______
Net assets			46,717		6,743
			_______		_______

Capital and reserves
Called up share capital			101		101
Profit and loss account			46,616		6,642
			_______		_______
Shareholders funds			46,717		6,743
			_______		_______

For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- 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;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 31 March 2025 , and are signed on behalf of the board by:

Dr Scott Middleton

Director

Company registration number: SC741449

SDM ORTHOPAEDICS LIMITED

Notes to the financial statements

Year ended 31 August 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 20 Barnton Street, Stirling, FK8 1NE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 September 2023	1,867	1,867
Additions	4,108	4,108
	_______	_______
At 31 August 2024	5,975	5,975
	_______	_______
Depreciation
At 1 September 2023	467	467
Charge for the year	1,494	1,494
	_______	_______
At 31 August 2024	1,961	1,961
	_______	_______
Carrying amount
At 31 August 2024	4,014	4,014
	_______	_______
At 31 August 2023	1,400	1,400
	_______	_______

5. Debtors

	31/08/24	31/08/23
	£	£
Trade debtors	6,412	5,830
Other debtors	11,700	816
	_______	_______
	18,112	6,646
	_______	_______

6. Creditors: amounts falling due within one year

	31/08/24	31/08/23
	£	£
Corporation tax	13,549	2,917
Other creditors	1,400	1,200
	_______	_______
	14,949	4,117
	_______	_______