Company Registration No. 02028847 (England and Wales)
Orthotics Online Limited
Unaudited accounts
for the year ended 30 September 2022
Orthotics Online Limited
Unaudited accounts
Contents
Orthotics Online Limited
Company Information
for the year ended 30 September 2022
Company Number
02028847 (England and Wales)
Registered Office
12 New Cavendish Street
London
W1G 8UN
Accountants
Anumerate Limited
Office 2.05, Clockwise
Old Town Hall
30 Tweedy Road
Bromley
BR13FE
Orthotics Online Limited
Statement of financial position
as at 30 September 2022
Tangible assets
14,514
16,822
Cash at bank and in hand
2,558
357,217
Creditors: amounts falling due within one year
(83,951)
(19,001)
Net current (liabilities)/assets
(13,423)
416,873
Called up share capital
100
100
Profit and loss account
991
433,595
Shareholders' funds
1,091
433,695
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 April 2023 and were signed on its behalf by
Simon Lees
Director
Company Registration No. 02028847
Orthotics Online Limited
Notes to the Accounts
for the year ended 30 September 2022
Orthotics Online Limited is a private company, limited by shares, registered in England and Wales, registration number 02028847. The registered office is 12 New Cavendish Street, London, W1G 8UN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2020
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on the reducing balance method
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Orthotics Online Limited
Notes to the Accounts
for the year ended 30 September 2022
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
The Director is of the opinion that the company is a going concern and will provide the financial support required to sustain the Company's operations.
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Tangible fixed assets
Fixtures & fittings
At 30 September 2022
203,801
At 30 September 2022
189,287
At 30 September 2022
14,514
At 30 September 2021
16,822
Work in progress
6,902
75,527
Orthotics Online Limited
Notes to the Accounts
for the year ended 30 September 2022
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
43,996
1,414
Loans from directors
18,588
15,337
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Transactions with related parties
At the year-end date the Company had balances receivable from Feather & Slate Limited and Downhill Swim Limited, which are related parties by virtue of having a Director in common.
At 30 September 2022, the following balances were owed to the Company:
Feather & Slate Limited - £336
Downhill Swim Limited - £432
At 30 September 2022, the Company owed the Director £18,588 (2021: £nil).
Balances with related parties are unsecured, interest-free and have no fixed terms of repayment.
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Average number of employees
During the year the average number of employees was 1 (2021: 2).