The London Orthopaedic Clinic LLP - Accounts to registrar (filleted) - small 18.2
The London Orthopaedic Clinic LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 February 2021 to 30 June 2021 |
for |
The London Orthopaedic Clinic LLP |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Contents of the Financial Statements |
for the period 1 February 2021 to 30 June 2021 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
The London Orthopaedic Clinic LLP |
General Information |
for the period 1 February 2021 to 30 June 2021 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1st Floor |
Healthaid House |
Marlborough Hill |
Harrow |
Middlesex |
HA1 1UD |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Balance Sheet |
30 June 2021 |
2021 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
46,577 |
110,995 |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Balance Sheet - continued |
30 June 2021 |
2021 | 2021 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
37,550 |
101,968 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 9,027 | 9,027 |
46,577 | 110,995 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 37,550 | 101,968 |
Members' other interests | 9,027 | 9,027 |
46,577 | 110,995 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Notes to the Financial Statements |
for the period 1 February 2021 to 30 June 2021 |
1. | STATUTORY INFORMATION |
The London Orthopaedic Clinic LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Goodwill represents the difference between amounts paid on the cost of a business combination and |
the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the |
date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated |
amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the |
Profit and loss account over its useful economic life. |
Intangible assets |
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible |
assets are measured at cost less any accumulated amortisation and any accumulated impairment |
losses. |
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life |
cannot be made, the useful life shall not exceed ten years. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
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. |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Notes to the Financial Statements - continued |
for the period 1 February 2021 to 30 June 2021 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The LLP has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. |
Financial assets and financial liabilities are recognised when the LLP becomes party to the |
contractual provisions of the instrument. |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in |
the assets of the LLP after deducting all of its liabilities. |
The LLP’s policies for its major classes of financial assets and financial liabilities are set out below. |
Financial assets |
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany |
working capital balances, and intercompany financing are initially recognised at transaction price, |
unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
present value of the future receipts discounted at a market rate of interest for a similar debt |
instrument. Financing transactions are those in which payment is deferred beyond normal business |
terms or is financed at a rate of interest that is not a market rate. |
Such assets are subsequently carried at amortised cost using the effective interest method, less any |
impairment. |
Financial liabilities |
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group |
companies and preference shares that are classified as debt, are initially recognised at transaction |
price, unless the arrangement constitutes a financing transaction, where the debt instrument is |
measured at the present value of the future payments discounted at a market rate of interest for a |
similar debt instrument. Financing transactions are those in which payment is deferred beyond |
normal business terms or is financed at a rate of interest that is not a market rate. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Impairment of financial assets |
Financial assets measured at cost and amortised cost are assessed at the end of each reporting |
period for objective evidence of impairment. If objective evidence of impairment is found, an |
impairment loss is recognised in the profit and loss account. |
For financial assets measured at cost less impairment, the impairment loss is measured as the |
difference between the asset's carrying amount and the best estimate of the amount the company |
would receive for the asset if it were to be sold at the reporting date. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference |
between the asset's carrying amount and the present value of estimated cash flows discounted at the |
asset's original effective interest rate. If the financial asset has a variable interest rate, the discount |
rate for measuring any impairment loss is the current effective interest rate determined under the |
contract. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was |
recognised, the impairment is reversed. The reversal is such that the current carrying amount does |
not exceed what the carrying amount would have been had the impairment not previously been |
recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets and financial liabilities |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Notes to the Financial Statements - continued |
for the period 1 February 2021 to 30 June 2021 |
2. | ACCOUNTING POLICIES - continued |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset |
expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are |
transferred to another party or (c) despite having retained some significant risks and rewards of |
ownership, control of the asset has been transferred to another party who has the practical ability to |
unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual |
obligation is discharged, cancelled or expires. |
Offsetting of financial assets and financial liabilities |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when |
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a |
net basis or to realise the asset and settle the liability simultaneously. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
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. |
Going concern |
The business assets of the LLP were transferred on a going concern basis to The London Orthopaedic Clinic UK Limited on 30 June 2021. Accordingly the LLP is no longer a going concern however the business continues to trade as The London Orthopaedic CLinic UK Limited. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 February 2021 |
and 30 June 2021 |
AMORTISATION |
At 1 February 2021 |
Charge for period |
At 30 June 2021 |
NET BOOK VALUE |
At 30 June 2021 |
At 31 January 2021 |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Notes to the Financial Statements - continued |
for the period 1 February 2021 to 30 June 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2021 |
and 30 June 2021 |
DEPRECIATION |
At 1 February 2021 |
Charge for period |
At 30 June 2021 |
NET BOOK VALUE |
At 30 June 2021 |
At 31 January 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2021 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2021 |
£ | £ |
Other creditors |
The London Orthopaedic Clinic LLP (Registered number: OC334420) |
Notes to the Financial Statements - continued |
for the period 1 February 2021 to 30 June 2021 |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2021 | 2021 |
£ | £ |
Loans from members | - | 75,000 |
Amounts owed to members in respect of profits | 37,550 | 26,968 |
37,550 | 101,968 |
Falling due within one year | 37,550 | 101,968 |
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. |