ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

PJS ORTHOPAEDICS LTD - Company Information

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Caseware UK (AP4) 2018.0.111 2018.0.111 2019-09-302019-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueRadiology servicesfalse2018-10-01 08183415 2018-10-01 2019-09-30 08183415 2017-10-01 2018-09-30 08183415 2019-09-30 08183415 2018-09-30 08183415 c:Director1 2018-10-01 2019-09-30 08183415 d:OfficeEquipment 2018-10-01 2019-09-30 08183415 d:OfficeEquipment 2019-09-30 08183415 d:OfficeEquipment 2018-09-30 08183415 d:OfficeEquipment d:OwnedOrFreeholdAssets 2018-10-01 2019-09-30 08183415 d:CurrentFinancialInstruments 2019-09-30 08183415 d:CurrentFinancialInstruments 2018-09-30 08183415 d:CurrentFinancialInstruments d:WithinOneYear 2019-09-30 08183415 d:CurrentFinancialInstruments d:WithinOneYear 2018-09-30 08183415 d:ShareCapital 2019-09-30 08183415 d:ShareCapital 2018-09-30 08183415 d:RetainedEarningsAccumulatedLosses 2019-09-30 08183415 d:RetainedEarningsAccumulatedLosses 2018-09-30 08183415 c:FRS102 2018-10-01 2019-09-30 08183415 c:AuditExemptWithAccountantsReport 2018-10-01 2019-09-30 08183415 c:FullAccounts 2018-10-01 2019-09-30 08183415 c:PrivateLimitedCompanyLtd 2018-10-01 2019-09-30 08183415 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-10-01 2019-09-30 08183415 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2018-10-01 2019-09-30 08183415 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2019-09-30 08183415 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2018-09-30 iso4217:GBP xbrli:pure
Registered number: 08183415














PJS ORTHOPAEDICS LTD




UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2019
 
PJS ORTHOPAEDICS LTD
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 8

 
PJS ORTHOPAEDICS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PJS ORTHOPAEDICS LTD
FOR THE YEAR ENDED 30 SEPTEMBER 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PJS Orthopaedics Ltd for the year ended 30 September 2019 which comprise  the 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.

This report is made solely to the Board of directors of PJS Orthopaedics Ltd, as a body, in accordance with the terms of our engagement letter dated 29 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of PJS Orthopaedics Ltd and state those matters that we have agreed to state to the Board of directors of PJS Orthopaedics Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PJS Orthopaedics Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that PJS Orthopaedics 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 PJS Orthopaedics Ltd. You consider that PJS Orthopaedics Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of PJS Orthopaedics 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.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

11 February 2020
Page 1
 
PJS ORTHOPAEDICS LTD
REGISTERED NUMBER: 08183415

BALANCE SHEET
AS AT 30 SEPTEMBER 2019

2019
2018
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,681
635

  
1,681
635

Current assets
  

Debtors: amounts falling due within one year
 5 
34,507
43,895

Cash at bank and in hand
  
71,518
64,868

  
106,025
108,763

Creditors: amounts falling due within one year
 6 
(37,341)
(40,844)

Net current assets
  
 
 
68,684
 
 
67,919

Total assets less current liabilities
  
70,365
68,554

Provisions for liabilities
  

Deferred tax
  
(302)
(114)

  
 
 
(302)
 
 
(114)

Net assets
  
70,063
68,440


Capital and reserves
  

Called up share capital 
  
225
225

Profit and loss account
  
69,838
68,215

  
70,063
68,440


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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 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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 2
 
PJS ORTHOPAEDICS LTD
REGISTERED NUMBER: 08183415
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2019

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 February 2020.






P J Hopgood
Director


The notes on pages 4 to 8 form part of these financial statements.

Page 3
 
PJS ORTHOPAEDICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The Company's principal activity is that of the provision of orthopaedic services.  The Company's principal place of business is Norwich, Norfolk.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of the orthopaedic services provided during the year exclusive of Value Added Tax.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4
 
PJS ORTHOPAEDICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5
 
PJS ORTHOPAEDICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, 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 the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2018 - 4).

Page 6
 
PJS ORTHOPAEDICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 October 2018
5,546


Additions
2,043



At 30 September 2019

7,589



Depreciation


At 1 October 2018
4,911


Charge for the year on owned assets
997



At 30 September 2019

5,908



Net book value



At 30 September 2019
1,681



At 30 September 2018
635


5.


Debtors

2019
2018
£
£


Trade debtors
34,507
43,895

34,507
43,895



6.


Creditors: Amounts falling due within one year

2019
2018
£
£

Other creditors
34,311
37,868

Accruals and deferred income
3,030
2,976

37,341
40,844


Page 7
 
PJS ORTHOPAEDICS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019

7.


Related party transactions

As at 30 September 2019 the balance due to one of the directors was £4,809 (2018: £4,601).  This loan is interest free and repayable on demand and is shown in other creditors falling due within one year in note 6 to the financial statements.

 
Page 8