Rockhill Orthopaedics Limited iXBRL

Rockhill Orthopaedics Limited

Director's Report and Unaudited Financial Statements

for the year ended 31 December 2018

Rockhill Orthopaedics Limited

DIRECTOR AND OTHER INFORMATION

Director	Jonathan Cowie
Company Secretary	Peter Greene
Company Number	NI051904
Registered Office	The Office Dock, Unit 2
	Channel Wharf
	21 Old Channel Road
	Belfast
	Co. Antrim
	BT3 9DE
	Northern Ireland
Business Address	106 Ravelston Dykes
	Edinburgh
	EH12 6HB
	Scotland
Accountants	PGR Accountants Limited
	The Office Dock, Unit 2
	Channel Wharf
	21 Old  Channel Road
	Belfast
	Co. Antrim
	BT3 9DE
	Northern Ireland

Rockhill Orthopaedics Limited

DIRECTOR'S REPORT

for the year ended 31 December 2018

The director presents his report and the unaudited financial statements for the year ended 31 December 2018.

Principal Activity

Other business support service activities not elsewhere classified.

Results and Dividends

The profit for the year after providing for depreciation and taxation amounted to £103,540 (2017 - £115,569).

Director

The director who served during the year is as follows:

Jonathan Cowie

Statement of Director's Responsibilities

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and apply them consistently;
-	make judgements and accounting estimates that are reasonable and prudent;
-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Jonathan Cowie

Director

28 October 2019

Rockhill Orthopaedics Limited

ACCOUNTANTS' REPORT

to the Director on the unaudited financial statements of Rockhill Orthopaedics Limited for the year ended 31 December 2018

In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 31 December 2018 which comprise the Profit and Loss Account, the Balance Sheet, the Reconciliation of Shareholders' Funds and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of Rockhill Orthopaedics Limited, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rockhill Orthopaedics Limited and state those matters that we have agreed to state to the director of Rockhill Orthopaedics Limited, in this report in accordance with the guidance of Chartered Accountants Ireland. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rockhill Orthopaedics Limited and its director for our work or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

It is your duty to ensure that Rockhill 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 Rockhill Orthopaedics Limited. You consider that Rockhill 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 Rockhill 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.

__________________________________

PGR ACCOUNTANTS LIMITED

The Office Dock, Unit 2

Channel Wharf

21 Old  Channel Road

Belfast

Co. Antrim

BT3 9DE

Northern Ireland

28 October 2019

Rockhill Orthopaedics Limited

PROFIT AND LOSS ACCOUNT

for the year ended 31 December 2018

		2018		2017
	Notes	£		£

Turnover		154,749		185,046
		─────────		─────────
Gross profit		154,749		185,046
Administrative expenses		(27,170)		(42,804)
		─────────		─────────
Profit before taxation		127,579		142,242
Tax on profit		(24,039)		(26,673)
		─────────		─────────
Profit for the year		103,540		115,569
		─────────		─────────
Total comprehensive income		103,540		115,569
		═════════		═════════

Rockhill Orthopaedics Limited

Company Number: NI051904

BALANCE SHEET

as at 31 December 2018

			2018		2017
		Notes	£		£
Fixed Assets

Tangible assets		4	1,356		-
			─────────		─────────
Current Assets

Debtors		5	200,000		90,000
Cash and cash equivalents			17,663		11,045
			─────────		─────────
			217,663		101,045
			─────────		─────────
Creditors: Amounts falling due within one year		6	(91,002)		(72,568)
			─────────		─────────
Net Current Assets			126,661		28,477
			─────────		─────────
Total Assets less Current Liabilities			128,017		28,477
			═════════		═════════
Capital and Reserves

Called up share capital			10		10
Profit and Loss Account			128,007		28,467
			─────────		─────────
Equity attributable to owners of the company			128,017		28,477
			═════════		═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that 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 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 28 October 2019

________________________________
Jonathan Cowie
Director

Rockhill Orthopaedics Limited

RECONCILIATION OF SHAREHOLDERS' FUNDS

as at 31 December 2018

	Share	Retained	Total
	capital	earnings
	£	£	£
At 1 January 2017	10	85,898	85,908
	─────────	─────────	─────────
Profit for the year	-	115,569	115,569
	─────────	─────────	─────────
Payment of dividends	-	(173,000)	(173,000)
	─────────	─────────	─────────
At 31 December 2017	10	28,467	28,477
	─────────	─────────	─────────
Profit for the year	-	103,540	103,540
	─────────	─────────	─────────
Payment of dividends	-	(4,000)	(4,000)
	─────────	─────────	─────────
At 31 December 2018	10	128,007	128,017
	═════════	═════════	═════════

Rockhill Orthopaedics Limited

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2018

1.	GENERAL INFORMATION
	Rockhill Orthopaedics Limited is a company limited by shares incorporated in Northern Ireland.

2.	ACCOUNTING POLICIES
	The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
	Statement of compliance
	The financial statements of the company for the year ended 31 December 2018 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
	Basis of preparation
	The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
	Cash flow statement
	The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
	Turnover
	Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
		Fixtures, fittings and equipment	-	15% straight line
	The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
	Trade and other debtors
	Trade and other debtors are initially recognised at fair value 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 receivables are stated at cost less impairment losses for bad and doubtful debts.
	Trade and other creditors
	Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
	Taxation
	Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
	Share capital of the company
	Ordinary share capital
	The ordinary share capital of the company is presented as equity.

3.	EMPLOYEES
	The average monthly number of employees, including director, during the year was 0.00|0, (2017 - 0).

4.	TANGIBLE FIXED ASSETS
		Fixtures,	Total
		fittings and
		equipment
		£	£
	Cost or Valuation
	Additions	1,380	1,380
		─────────	─────────
	At 31 December 2018	1,380	1,380
		─────────	─────────
	Depreciation
	Charge for the year	24	24
		─────────	─────────
	At 31 December 2018	24	24
		─────────	─────────
	Net book value
	At 31 December 2018	1,356	1,356
		═════════	═════════

5.	DEBTORS	2018	2017
		£	£
	Other debtors	116,981	90,000
	Director's current account (Note )	83,019	-
		─────────	─────────
		200,000	90,000
		═════════	═════════

6.	CREDITORS	2018	2017
	Amounts falling due within one year	£	£
	Taxation	60,521	40,985
	Director's current account	-	30,083
	Other creditors	26,981	-
	Accruals	3,500	1,500
		─────────	─────────
		91,002	72,568
		═════════	═════════

ROCKHILL ORTHOPAEDICS LIMITED

SUPPLEMENTARY INFORMATION

RELATING TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Rockhill Orthopaedics Limited

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

for the year ended 31 December 2018

	2018		2017
	£		£

Sales

Sales	154,749		185,046
	─────────		─────────
	154,749		185,046
	─────────		─────────
Gross profit Percentage	100.0%		100.0%
	─────────		─────────
Administrative expenses

Insurance	8,553		21,447
Printing, postage and stationery	-		23
Advertising	-		1,195
Telephone	547		2,160
Computer costs	16		216
Motor expenses	6,200		5,832
Travelling and Subsistence	414		814
Entertaining	299		-
Legal and professional	4,774		6,010
Accountancy	2,720		2,760
Bank charges and interest	2		-
Subscriptions	2,453		2,287
Depreciation of tangible assets	24		-
Charitable donations	1,168		60
	─────────		─────────
	27,170		42,804
	─────────		─────────
Net profit	127,579		142,242
	═════════		═════════