Orthosie Limited 06835105 false true 2014-04-01 2015-03-31 2015-03-31 06835105 2014-04-01 2015-03-31 06835105 2015-03-31 06835105 uk-bus:OrdinaryShareClass1 uk-bus:Non-cumulativeShares 2015-03-31 06835105 uk-bus:Director1 2014-04-01 2015-03-31 06835105 uk-bus:Director4 2014-04-01 2015-03-31 06835105 uk-bus:OrdinaryShareClass1 uk-bus:Non-cumulativeShares 2014-04-01 2015-03-31 06835105 uk-gaap:OtherIntangibleFixedAssets 2014-04-01 2015-03-31 06835105 uk-gaap:PlantMachinery 2014-04-01 2015-03-31 06835105 2014-03-31 06835105 2014-03-31 06835105 uk-bus:OrdinaryShareClass1 uk-bus:Non-cumulativeShares 2014-03-31 iso4217:GBP xbrli:shares

Registration number: 06835105

Orthosie Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

 

Orthosie Limited
Contents

Abbreviated Balance Sheet


 

1

Notes to the Abbreviated Accounts


 

2 to 4

 

Orthosie Limited
(Registration number: 06835105)
Abbreviated Balance Sheet at 31 March 2015

Note

 

2015

   

2014

 
 

£

   

£

   

£

   

£

 

Fixed assets

 

   

   

   

 

Intangible fixed assets

2

 

   

-

   

   

27,003

 

Tangible fixed assets

2

 

   

-

   

   

142,556

 

 

   

-

   

   

169,559

 

Current assets

 

   

   

   

 

Stocks

 

130,000

   

   

113,950

   

 

Debtors

 

36

   

   

79,296

   

 

Cash at bank and in hand

 

135

   

   

3,364

   

 

 

130,171

   

   

196,610

   

 

Creditors: Amounts falling due within one year

 

(251,898)

   

   

(370,921)

   

 

Net current liabilities

 

   

(121,727)

   

   

(174,311)

 

Total assets less current liabilities

 

   

(121,727)

   

   

(4,752)

 

Creditors: Amounts falling due after more than one year

 

   

(375,906)

   

   

(531,906)

 

Net liabilities

 

   

(497,633)

   

   

(536,658)

 

Capital and reserves

 

   

   

   

 

Called up share capital

3

 

400

   

   

400

   

 

Profit and loss account

 

(498,033)

   

   

(537,058)

   

 

 

   

(497,633)

   

   

(536,658)

 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

For the year ending 31 March 2015 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved by the Board on 18 December 2015 and signed on its behalf by:

.........................................
Mrs K C Honeybone
Director

 

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

 

Orthosie Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis despite the net liabilities in the balance sheet. The directors feel this is appropriate due to the support that continues to be offered by both the directors personally and ultimate parent company, Hevelius Holdings Limited.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Negative goodwill is included within fixed assets and released to the profit and loss account in the periods in which the fair values of the non-monetary assets purchased on the same acquisition are recovered, whether through sale or depreciation.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Amortisation method and rate

Other intangibles

over 10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance over 20 years

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

 

Orthosie Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Fixed assets

   

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

                 

At 1 April 2014

 

54,004

   

190,074

   

244,078

 

Disposals

 

(54,004)

   

(190,074)

   

(244,078)

 

At 31 March 2015

 

-

   

-

   

-

 

Depreciation

                 

At 1 April 2014

 

27,001

   

47,518

   

74,519

 

Eliminated on disposals

 

(27,001)

   

(47,518)

   

(74,519)

 

At 31 March 2015

 

-

   

-

   

-

 

Net book value

                 

At 31 March 2015

 

-

   

-

   

-

 

At 31 March 2014

 

27,003

   

142,556

   

169,559

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

400

   

400

   

400

   

400

 
                         

4

Related party transactions

Directors' advances and credits

 

2015
Advance/ Credit
£

2015
Repaid
£

2014
Advance/ Credit
£

2014
Repaid
£

Mr N J Forsyth

Directors loan account

91,844

-

91,844

-

         
         
 

Orthosie Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015

5

Control

The company is controlled by Hevelius Holdings Limited, the ultimate parent company. Hevelius Holdings Limited is under the control of the directors of the company.