Joint Operations (Spine) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10694337 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Joint Operations (Spine) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R M Forster

C Bromfield

REGISTERED OFFICE:

11 Interface Business Park Bincknoll

lane

Royal Wootton Bassett

Swindon

SN4 8SY

REGISTERED NUMBER:

10694337 (England and Wales)

ACCOUNTANTS:

Andrew Spencer Associates Limited

Chartered Certified Accountants

328 Chatsworth Avenue

Cosham

Portsmouth

Hampshire

PO6 2UP

FIXED ASSETS

Tangible assets

4

36,420

49,224

CURRENT ASSETS

Stocks

351,856

199,708

Debtors

5

18,672

-

Cash at bank

8,219

1,336

378,747

201,044

CREDITORS

Amounts falling due within one year

6

(570,013

)

(275,640

)

NET CURRENT LIABILITIES

(191,266

)

(74,596

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(154,846

)

(25,372

)

PROVISIONS FOR LIABILITIES

7

(1,651

)

(9,353

)

NET LIABILITIES

(156,497

)

(34,725

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(156,597

)

(34,825

)

(156,497

)

(34,725

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 21 March 2024 and were signed on its behalf by:

R M Forster - Director

1.	STATUTORY INFORMATION

Joint Operations (Spine) 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 (£).

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.

These financial statements have been prepared for Joint Operations (Spine) Ltd as a single entity.

Going Concern

At 31 March 2023 the company had net liabilities of 156,497 (2022: £34,725).

The directors have confirmed that the company's largest creditor, which is a company under common control will continue to provide financial support to the company for the foreseeable future and that the creditor will not seek full repayment of their outstanding balance until the company is in a financial position to enable the balance to be repaid.

The directors have considered the future position of the company and are of the opinion that the company will return to profitability in the foreseeable future.

In view of the above the directors consider that the going concern basis for the preparation of the accounts is appropriate.

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

90,012

1,614

91,626

DEPRECIATION

At 1 April 2022

40,788

1,614

42,402

Charge for year

12,804

-

12,804

At 31 March 2023

53,592

1,614

55,206

NET BOOK VALUE

At 31 March 2023

36,420

-

36,420

At 31 March 2022

49,224

-

49,224

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Tax

15,072

-

Prepayments and accrued income

3,600

-

18,672

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

195,297

4,441

Social security and other taxes

5,957

5,554

VAT

42,331

31,588

Other creditors

225,588

169,009

Directors' current accounts

55,053

51,309

Accrued expenses

45,787

13,739

570,013

275,640

7.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

1,651

9,353

Deferred

tax

£

Balance at 1 April 2022

9,353

Capital Allowances in Excess

of Depreciation

(2,433

)

Balance at 31 March 2023

6,920

8.	ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling party due to their equal shareholding and day to day running of the business.