Morgan Steer Orthopaedics Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07288649 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Morgan Steer Orthopaedics Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P J Seddon

M J Jelley

R G Cradduck

REGISTERED OFFICE:

9 Furnace House

Narborough Wood Business Park

Desford Road, Enderby

Leicester

Leicestershire

LE19 4XT

REGISTERED NUMBER:

07288649 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

2

1,628

1,860

Tangible assets

3

36,971

65,855

38,599

67,715

CURRENT ASSETS

Stocks

32,671

46,288

Debtors

196,713

251,287

Cash at bank and in hand

12,814

56,008

242,198

353,583

CREDITORS

Amounts falling due within one year

4

321,689

320,245

NET CURRENT (LIABILITIES)/ASSETS

(79,491

)

33,338

TOTAL ASSETS LESS CURRENT
LIABILITIES

(40,892

)

101,053

PROVISIONS FOR LIABILITIES

7,394

13,171

NET (LIABILITIES)/ASSETS

(48,286

)

87,882

CAPITAL AND RESERVES

Called up share capital

5

70

100

Capital redemption reserve

30

-

Profit and loss account

(48,386

)

87,782

SHAREHOLDERS' FUNDS

(48,286

)

87,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 April 2016 and were signed on its behalf by:

M J Jelley - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis, assuming the company will continue to

trade. This assumption depends on the ability of the directors to maintain the necessary financial support.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Trademarks

Trademarks acquired in 2013 are being amortised evenly over their estimated life of ten years.

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

-

33% on cost and 25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Development expenditure

Development expenditure is written off to the profit and loss account in the year in which it is incurred.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

2,325

AMORTISATION

At 1 April 2015

465

Amortisation for year

232

At 31 March 2016

697

NET BOOK VALUE

At 31 March 2016

1,628

At 31 March 2015

1,860

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

113,782

Additions

4,196

At 31 March 2016

117,978

DEPRECIATION

At 1 April 2015

47,927

Charge for year

33,080

At 31 March 2016

81,007

NET BOOK VALUE

At 31 March 2016

36,971

At 31 March 2015

65,855

4.

CREDITORS

Creditors include an amount of £ 57,652 (31.3.15 - £ 3,900 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

40

Ordinary 'A'

£1

40

30

Ordinary 'B'

£1

30

NIL

Ordinary 'C'

£1

-

30

70

100