Paul Szypryt Nottingham Orthopaedic Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07644621 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

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:

LING PHIPP

Cliffe Hill House

22-26 Nottingham Road

Stapleford

Nottingham

NG9 8AA

FIXED ASSETS

Tangible assets

4

18,265

22,556

Investments

5

239,762

130,142

258,027

152,698

CURRENT ASSETS

Debtors

6

49,157

31,849

Cash at bank

39,557

134,243

88,714

166,092

CREDITORS

Amounts falling due within one year

7

44,135

31,273

NET CURRENT ASSETS

44,579

134,819

TOTAL ASSETS LESS CURRENT LIABILITIES

302,606

287,517

PROVISIONS FOR LIABILITIES

3,653

4,511

NET ASSETS

298,953

283,006

CAPITAL AND RESERVES

Called up share capital

100

100

Non-Distributable Reserve

8

20,722

11,102

Retained earnings

278,131

271,804

SHAREHOLDERS' FUNDS

298,953

283,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 January 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

43,414

Additions

1,798

At 31 May 2017

45,212

DEPRECIATION

At 1 June 2016

20,858

Charge for year

6,089

At 31 May 2017

26,947

NET BOOK VALUE

At 31 May 2017

18,265

At 31 May 2016

22,556

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.5.17

31.5.16

£

£

Prudential Investment

130,142

119,040

Prudential Investment - Addition

100,000

-

Investment fair value uplift

9,620

11,102

239,762

130,142

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

45,013

31,746

Other debtors

4,144

103

49,157

31,849

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Taxation and social security

8,289

7,687

Other creditors

35,846

23,586

44,135

31,273

8.

RESERVES

Non-Distributable

Reserve

£

At 1 June 2016

11,102

Investment fair value uplift

9,620

At 31 May 2017

20,722

9.	FIRST YEAR ADOPTION

This is the first year of adopting FRS102 section 1A and other than presentational differences an adjustment was

also made to include the fixed asset investment at fair value. The effect of including the investment at fair value

was an uplift of £11,102 as at 31 May 2016 and this is now included within a separate fair value reserve. No

other material adjustments to the figures have been required.