IRIS Accounts Productionv25.1.4.4205728067Board of Directors1.1.2430.9.2430.9.24falsetruefalsefalsetruefalse iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh057280672023-12-31057280672024-09-30057280672024-01-012024-09-30057280672022-12-31057280672023-01-012023-12-31057280672023-12-3105728067ns15:EnglandWales2024-01-012024-09-3005728067ns14:PoundSterling2024-01-012024-09-3005728067ns10:Director12024-01-012024-09-3005728067ns10:PrivateLimitedCompanyLtd2024-01-012024-09-3005728067ns10:SmallEntities2024-01-012024-09-3005728067ns10:AuditExemptWithAccountantsReport2024-01-012024-09-3005728067ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-09-3005728067ns10:SmallCompaniesRegimeForAccounts2024-01-012024-09-3005728067ns10:FullAccounts2024-01-012024-09-3005728067ns10:Director22024-01-012024-09-3005728067ns10:Director32024-01-012024-09-3005728067ns10:Director42024-01-012024-09-3005728067ns10:CompanySecretary12024-01-012024-09-3005728067ns10:RegisteredOffice2024-01-012024-09-3005728067ns5:CurrentFinancialInstruments2024-09-3005728067ns5:CurrentFinancialInstruments2023-12-3105728067ns5:Non-currentFinancialInstruments2024-09-3005728067ns5:Non-currentFinancialInstruments2023-12-3105728067ns5:ShareCapital2024-09-3005728067ns5:ShareCapital2023-12-3105728067ns5:RetainedEarningsAccumulatedLosses2024-09-3005728067ns5:RetainedEarningsAccumulatedLosses2023-12-3105728067ns5:LeaseholdImprovements2024-01-012024-09-3005728067ns5:PlantMachinery2024-01-012024-09-3005728067ns5:MotorVehicles2024-01-012024-09-3005728067ns5:ComputerEquipment2024-01-012024-09-3005728067ns5:PlantMachinery2023-12-3105728067ns5:PlantMachinery2024-09-3005728067ns5:PlantMachinery2023-12-3105728067ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3005728067ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3105728067ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-09-3005728067ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-12-3105728067ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3005728067ns5:FinanceLeasesns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3105728067ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-09-3005728067ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3105728067ns5:FinanceLeasesns5:BetweenOneFiveYears2024-09-3005728067ns5:FinanceLeasesns5:BetweenOneFiveYears2023-12-3105728067ns5:HirePurchaseContracts2024-09-3005728067ns5:HirePurchaseContracts2023-12-3105728067ns5:FinanceLeases2024-09-3005728067ns5:FinanceLeases2023-12-3105728067ns5:WithinOneYear2024-09-3005728067ns5:WithinOneYear2023-12-3105728067ns5:BetweenOneFiveYears2024-09-3005728067ns5:BetweenOneFiveYears2023-12-3105728067ns5:AllPeriods2024-09-3005728067ns5:AllPeriods2023-12-3105728067ns5:Secured2024-09-3005728067ns5:Secured2023-12-31057280671ns5:Secured2024-09-30057280671ns5:Secured2023-12-31057280671ns10:Director12023-12-31057280671ns10:Director12022-12-31057280671ns10:Director12024-01-012024-09-30057280671ns10:Director12023-01-012023-12-31057280671ns10:Director12024-09-30057280671ns10:Director12023-12-310572806712024-01-012024-09-30

REGISTERED NUMBER: 05728067 (England and Wales)
















LIMBTEX LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 30 SEPTEMBER 2024







LIMBTEX LTD (REGISTERED NUMBER: 05728067)








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024






Page




Company Information  

1




Balance Sheet  

2


to


3



Notes to the Financial Statements  

4


to


8



Chartered Certified Accountants' Report  

9




LIMBTEX LTD



COMPANY INFORMATION

FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024









DIRECTORS:

M J Goodall


J Mahe (Appointed 25/10/2024)


J Midgley (Appointed 25/10/2024)


P M Steeper (Appointed 25/10/2024)







SECRETARY:

E C Harvey-Kitching







REGISTERED OFFICE:

Unit 3 Stourton Link


Intermezzo Drive


Leeds


West Yorkshire


LS10 1DF







REGISTERED NUMBER:

05728067 (England and Wales)







ACCOUNTANTS:

Essex Abel Ltd


4 Bank Court


Weldon Road


Loughborough


Leicestershire


LE11 5RF



LIMBTEX LTD (REGISTERED NUMBER: 05728067)



BALANCE SHEET

30 SEPTEMBER 2024



2024

2023



Notes

£   

£   

£   


FIXED ASSETS

Tangible assets

5

208,237


206,553




CURRENT ASSETS

Stocks

480,124


517,829



Debtors

6

811,441


763,229



Cash at bank and in hand

25,903


64,256



1,317,468


1,345,314



CREDITORS

Amounts falling due within one year

7

570,608


737,890



NET CURRENT ASSETS

746,860


607,424



TOTAL ASSETS LESS CURRENT

LIABILITIES

955,097


813,977




CREDITORS

Amounts falling due after more than one

year

8

(19,346

)

(24,527

)



PROVISIONS FOR LIABILITIES

(40,708

)

(39,754

)


NET ASSETS

895,043


749,696




CAPITAL AND RESERVES

Called up share capital

100


100



Retained earnings

894,943


749,596



895,043


749,696




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.  


The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their 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.


LIMBTEX LTD (REGISTERED NUMBER: 05728067)



BALANCE SHEET - continued

30 SEPTEMBER 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 and authorised for issue by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:






M J Goodall - Director




LIMBTEX LTD (REGISTERED NUMBER: 05728067)



NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024


1.

STATUTORY INFORMATION



Limbtex Ltd 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.


The presentation currency of the financial statements is the Pound Sterling (£).



The length of the accounting period has been shortened to 9 months to align with the group, meaning that the comparatives are not entirely comparable.


2.

STATEMENT OF COMPLIANCE



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.  


3.

ACCOUNTING POLICIES



Basis of preparing the financial statements


The financial statements have been prepared under the historical cost convention.



The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.



Revenue recognition


Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.



The following criteria must also be met before revenue is recognised:



Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.



These criteria are considered to be met when the goods are delivered to the buyer.



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

-

10% on cost


Plant and machinery

-

25% on reducing balance


Motor vehicles

-

25% on reducing balance


Computer equipment

-

25% on reducing balance



Stocks


Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised.



The cost of stock is based on the aggregated actual cost price and includes expenditure incurred in acquiring stock, production or conversion costs, and other costs incurred in bringing them to their existing location and condition.



LIMBTEX LTD (REGISTERED NUMBER: 05728067)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024


3.

ACCOUNTING POLICIES - continued



Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to/from related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of debtors. The amount of the provision is determined as the difference between the asset's carrying amount and the present value of estimated future cash flows, and is recognised in the profit & loss in operating expenses.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Derivative instruments

The company uses forward foreign currency contracts to reduce exposure to foreign exchange rates.

Derivative financial instruments are initially measured at fair value on the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative.

The fair value of the forward currency contracts is calculated by reference to current forward exchange contracts with similar maturity profiles.


Taxation

Taxation for the period 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 balance sheet date.



LIMBTEX LTD (REGISTERED NUMBER: 05728067)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024


3.

ACCOUNTING POLICIES - continued


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.


Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.

EMPLOYEES AND DIRECTORS



The average number of employees during the period was 11 (2023 - 11 ) .


5.

TANGIBLE FIXED ASSETS


Plant and


machinery


etc

£   



COST


At 1 January 2024

523,974




Additions

84,034




Disposals

(59,307

)



At 30 September 2024

548,701




DEPRECIATION


At 1 January 2024

317,421




Charge for period

39,008




Eliminated on disposal

(15,965

)



At 30 September 2024

340,464




NET BOOK VALUE


At 30 September 2024

208,237




At 31 December 2023

206,553





LIMBTEX LTD (REGISTERED NUMBER: 05728067)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024


6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade debtors

360,580


356,979




Amounts owed by group undertakings

3,456


3,475




Other debtors

447,405


402,775



811,441


763,229




7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Bank loans and overdrafts

32,407


55,556




Hire purchase contracts and finance leases (see note 9)

21,434


15,944




Trade creditors

307,803


267,242




Amounts owed to group undertakings

986


-




Taxation and social security

50,324


151,401




Other creditors

157,654


247,747



570,608


737,890




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR


2024

2023


£   

£   



Bank loans

-


18,519




Hire purchase contracts and finance leases (see note 9)

19,346


6,008



19,346


24,527




9.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Hire purchase contracts


Finance leases  


2024

2023

2024

2023


£   

£   

£   

£   



Net obligations repayable:


Within one year

12,732


-


8,702


15,944




Between one and five years

18,860


-


486


6,008



31,592


-


9,188


21,952





Non-cancellable

operating leases


2024

2023


£   

£   



Within one year

90,341


28,231




Between one and five years

41,874


10,737



132,215


38,968





LIMBTEX LTD (REGISTERED NUMBER: 05728067)



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JANUARY 2024 TO 30 SEPTEMBER 2024


10.

SECURED DEBTS



The following secured debts are included within creditors:


2024

2023


£   

£   



Bank loans

32,407


74,075




Invoice discounting

142,247


185,580




Hire purchase contracts and finance leases

40,780


21,952



215,434


281,607





The invoice discounting is secured by a fixed and floating charge over the company's assets and a personal guarantee provided by a director of £100,000.



The bank loan is secured by an unlimited debenture from Limbtex Ltd.



The hire purchase contracts and finance leases are secured by the assets they relate to.


11.

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES



The following advances and credits to a director subsisted during the period ended 30 September 2024 and the year ended 31 December 2023:


2024

2023


£   

£   



M J Goodall


Balance outstanding at start of period

74,374


54,521




Amounts advanced

138,612


79,853




Amounts repaid

(74,374

)

(60,000

)



Amounts written off

-


-




Amounts waived

-


-




Balance outstanding at end of period

138,612


74,374




No interest has been charged on the overdrawn director's current account.

The amount is repayable on demand and was repaid on 25 October 2024.

12.

RELATED PARTY DISCLOSURES


At the balance sheet date £267,474 (2023: £278,483) was owed by companies under common control.

No interest has been charged on this amount.

13.

POST BALANCE SHEET EVENTS


On 25 October 2024, 100% of the shares of Limbtex Holdings Limited (ultimate holding company) were acquired by Ortho Dev UK Limited. It is not possible to estimate the financial effect of this transaction on the Company

14.

PARENT / SUBSIDIARY RELATIONS


The parent undertaking is Limbtex Holdings Limited.

The registered office of the parent company is Unit 3 Stouton Link, Intermezzo Drive, Leeds, West Yorkshire, LS10 1DF.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

LIMBTEX LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Limbtex Ltd for the period ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.


As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.  


This report is made solely to the Board of Directors of Limbtex Ltd, as a body, in accordance with the terms of our engagement letter dated 4 March 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Limbtex Ltd and state those matters that we have agreed to state to the Board of Directors of Limbtex Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at    

https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.


To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.  


It is your duty to ensure that Limbtex Ltd 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 Limbtex Ltd. You consider that Limbtex Ltd is exempt from the statutory audit requirement for the period.  


We have not been instructed to carry out an audit or a review of the financial statements of Limbtex Ltd. 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.  







Essex Abel Ltd

4 Bank Court

Weldon Road

Loughborough

Leicestershire

LE11 5RF



5 June 2025