Paul Szypryt Nottingham Orthopaedic Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07644621 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2020

for

Paul Szypryt Nottingham Orthopaedic

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr E P Szypryt

Mrs L H Szypryt

REGISTERED OFFICE:

Cliffe Hill House

22 - 26 Nottingham Road

Stapleford

Nottingham

Nottinghamshire

NG9 8AA

REGISTERED NUMBER:

07644621 (England and Wales)

ACCOUNTANTS:

Haines Watts

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Tangible assets

4

11,210

10,713

Investments

5

242,577

257,006

253,787

267,719

CURRENT ASSETS

Debtors

6

54,993

68,395

Cash at bank

92,247

52,766

147,240

121,161

CREDITORS

Amounts falling due within one year

7

29,663

36,909

NET CURRENT ASSETS

117,577

84,252

TOTAL ASSETS LESS CURRENT LIABILITIES

371,364

351,971

PROVISIONS FOR LIABILITIES

2,130

2,035

NET ASSETS

369,234

349,936

CAPITAL AND RESERVES

Called up share capital

100

100

Non-Distributable Reserve

8

23,003

34,690

Retained earnings

8

346,131

315,146

SHAREHOLDERS' FUNDS

369,234

349,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2020 and were signed on its behalf by:

Mr E P Szypryt - Director

Mrs L H Szypryt - Director

1.	STATUTORY INFORMATION

Paul Szypryt Nottingham Orthopaedic Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The accounts are prepared on a going concern basis and remain subject to the continued support of the directors.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 year 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.

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.

Investments

Investments in shares and investment bonds are included at fair value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

45,992

Additions

4,234

At 31 May 2020

50,226

DEPRECIATION

At 1 June 2019

35,279

Charge for year

3,737

At 31 May 2020

39,016

NET BOOK VALUE

At 31 May 2020

11,210

At 31 May 2019

10,713

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.5.20

31.5.19

£

£

Prudential Investment

257,005

248,209

Investment fair value uplift

-

8,797

Investment fair value decrease

(14,428

)

-

242,577

257,006

Historical cost of investment £219,040.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

50,314

60,974

Other debtors

4,679

7,421

54,993

68,395

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Taxation and social security

5,998

6,370

Other creditors

23,665

30,539

29,663

36,909

8.

RESERVES

Retained

Non-Distributable

earnings

Reserve

Totals

£

£

£

At 1 June 2019

315,146

34,690

349,836

Profit for the year

22,623

22,623

Dividends

(3,325

)

(3,325

)

Investment fair value decrease

14,428

(14,428

)

-

Deferred taxation on fixed

asset investment decrease

(2,741

)

2,741

-

At 31 May 2020

346,131

23,003

369,134