4 false false false false false false false false false false true false false false false true false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 154,635 20,803 2,500 172,938 172,938 154,635 xbrli:pure xbrli:shares iso4217:GBP NI069950 2023-08-01 2024-07-31 NI069950 2024-07-31 NI069950 2023-07-31 NI069950 2022-08-01 2023-07-31 NI069950 2023-07-31 NI069950 2022-07-31 NI069950 core:FurnitureFittings 2023-08-01 2024-07-31 NI069950 core:MotorVehicles 2023-08-01 2024-07-31 NI069950 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 NI069950 bus:OrdinaryShareClass2 2023-08-01 2024-07-31 NI069950 bus:OrdinaryShareClass3 2023-08-01 2024-07-31 NI069950 bus:Director1 2023-08-01 2024-07-31 NI069950 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 NI069950 core:FurnitureFittings 2023-07-31 NI069950 core:MotorVehicles 2023-07-31 NI069950 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-31 NI069950 core:FurnitureFittings 2024-07-31 NI069950 core:MotorVehicles 2024-07-31 NI069950 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 NI069950 core:WithinOneYear 2024-07-31 NI069950 core:WithinOneYear 2023-07-31 NI069950 core:AfterOneYear 2024-07-31 NI069950 core:AfterOneYear 2023-07-31 NI069950 core:UKTax 2023-08-01 2024-07-31 NI069950 core:UKTax 2022-08-01 2023-07-31 NI069950 core:ShareCapital 2024-07-31 NI069950 core:ShareCapital 2023-07-31 NI069950 core:RetainedEarningsAccumulatedLosses 2024-07-31 NI069950 core:RetainedEarningsAccumulatedLosses 2023-07-31 NI069950 core:CostValuation core:Non-currentFinancialInstruments 2023-07-31 NI069950 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-07-31 NI069950 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-07-31 NI069950 core:CostValuation core:Non-currentFinancialInstruments 2024-07-31 NI069950 core:Non-currentFinancialInstruments 2024-07-31 NI069950 core:Non-currentFinancialInstruments 2023-07-31 NI069950 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 NI069950 core:FurnitureFittings 2023-07-31 NI069950 core:MotorVehicles 2023-07-31 NI069950 bus:SmallEntities 2023-08-01 2024-07-31 NI069950 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 NI069950 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI069950 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI069950 bus:FullAccounts 2023-08-01 2024-07-31 NI069950 bus:OrdinaryShareClass1 2024-07-31 NI069950 bus:OrdinaryShareClass1 2023-07-31 NI069950 bus:OrdinaryShareClass2 2024-07-31 NI069950 bus:OrdinaryShareClass2 2023-07-31 NI069950 bus:OrdinaryShareClass3 2024-07-31 NI069950 bus:OrdinaryShareClass3 2023-07-31 NI069950 bus:AllOrdinaryShares 2024-07-31 NI069950 bus:AllOrdinaryShares 2023-07-31
COMPANY REGISTRATION NUMBER: NI069950
Neill Thompson Orthopaedic Services Ltd
Filleted Unaudited Financial Statements
31 July 2024
Neill Thompson Orthopaedic Services Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
747,620
752,788
Investments
7
172,938
154,635
---------
---------
920,558
907,423
Current assets
Debtors
8
807,027
632,625
Cash at bank and in hand
170,512
217,048
---------
---------
977,539
849,673
Creditors: amounts falling due within one year
9
252,841
211,041
---------
---------
Net current assets
724,698
638,632
------------
------------
Total assets less current liabilities
1,645,256
1,546,055
Creditors: amounts falling due after more than one year
10
10,981
20,237
Provisions
10,417
3,395
------------
------------
Net assets
1,623,858
1,522,423
------------
------------
Capital and reserves
Called up share capital
11
160
160
Profit and loss account
1,623,698
1,522,263
------------
------------
Shareholders funds
1,623,858
1,522,423
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 July 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 .
Neill Thompson Orthopaedic Services Ltd
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:
Mr N Thompson
Director
Company registration number: NI069950
Neill Thompson Orthopaedic Services Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 51 Ravara Road, Ballygowan, Newtownards, BT23 6NN, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
20% reducing balance
Motor vehicles
-
33% reducing balance
Computer equipment
-
33 % straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
121,209
103,177
Adjustments in respect of prior periods
11,474
---------
---------
Total current tax
121,209
114,651
---------
---------
Deferred tax:
Impact of change in tax rate
7,022
---------
---------
Tax on profit
128,231
114,651
---------
---------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 21 %).
2024
2023
£
£
Profit on ordinary activities before taxation
479,666
519,448
---------
---------
Profit on ordinary activities by rate of tax
119,917
109,084
Adjustment to tax charge in respect of prior periods
11,474
Effect of expenses not deductible for tax purposes
38
Effect of capital allowances and depreciation
1,292
( 5,945)
Movement in deferred tax
7,022
---------
---------
Tax on profit
128,231
114,651
---------
---------
6. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 August 2023
634,295
87,954
104,763
62,197
889,209
Additions
6,554
2,291
22,862
3,980
35,687
---------
--------
---------
--------
---------
At 31 July 2024
640,849
90,245
127,625
66,177
924,896
---------
--------
---------
--------
---------
Depreciation
At 1 August 2023
65,140
39,783
31,498
136,421
Charge for the year
5,021
22,740
13,094
40,855
---------
--------
---------
--------
---------
At 31 July 2024
70,161
62,523
44,592
177,276
---------
--------
---------
--------
---------
Carrying amount
At 31 July 2024
640,849
20,084
65,102
21,585
747,620
---------
--------
---------
--------
---------
At 31 July 2023
634,295
22,814
64,980
30,699
752,788
---------
--------
---------
--------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 August 2023
154,635
Additions
20,803
Disposals
( 2,500)
---------
At 31 July 2024
172,938
---------
Impairment
At 1 August 2023 and 31 July 2024
---------
Carrying amount
At 31 July 2024
172,938
---------
At 31 July 2023
154,635
---------
8. Debtors
2024
2023
£
£
Trade debtors
133,445
161,073
Amounts owed by group undertakings and undertakings in which the company has a participating interest
288,608
277,433
Other debtors
384,974
194,119
---------
---------
807,027
632,625
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,648
12,598
Corporation tax
121,209
103,177
Social security and other taxes
23,878
9,059
Pensions Payable
293
Other creditors
96,813
86,207
---------
---------
252,841
211,041
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,981
20,237
--------
--------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
136
136
136
136
Ordinary A shares of £ 1 each
12
12
12
12
Ordinary B shares of £ 1 each
12
12
12
12
----
----
----
----
160
160
160
160
----
----
----
----
12. Directors' advances, credits and guarantees