Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity11truetrue 10661678 2022-04-01 2023-03-31 10661678 2021-04-01 2022-03-31 10661678 2023-03-31 10661678 2022-03-31 10661678 c:Director1 2022-04-01 2023-03-31 10661678 d:PlantMachinery 2022-04-01 2023-03-31 10661678 d:PlantMachinery 2023-03-31 10661678 d:PlantMachinery 2022-03-31 10661678 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10661678 d:MotorVehicles 2022-04-01 2023-03-31 10661678 d:MotorVehicles 2023-03-31 10661678 d:MotorVehicles 2022-03-31 10661678 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10661678 d:OfficeEquipment 2022-04-01 2023-03-31 10661678 d:OfficeEquipment 2023-03-31 10661678 d:OfficeEquipment 2022-03-31 10661678 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10661678 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10661678 d:CurrentFinancialInstruments 2023-03-31 10661678 d:CurrentFinancialInstruments 2022-03-31 10661678 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10661678 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10661678 d:ShareCapital 2023-03-31 10661678 d:ShareCapital 2022-03-31 10661678 d:RetainedEarningsAccumulatedLosses 2023-03-31 10661678 d:RetainedEarningsAccumulatedLosses 2022-03-31 10661678 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10661678 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 10661678 c:FRS102 2022-04-01 2023-03-31 10661678 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 10661678 c:FullAccounts 2022-04-01 2023-03-31 10661678 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 10661678









PKS ORTHODONTICS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PKS ORTHODONTICS LIMITED
REGISTERED NUMBER: 10661678

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
106,963
27,309

  
106,963
27,309

Current assets
  

Debtors: amounts falling due within one year
 5 
111,349
91,042

Cash at bank and in hand
 6 
519,739
418,535

  
631,088
509,577

Creditors: amounts falling due within one year
 7 
(35,799)
(40,541)

Net current assets
  
 
 
595,289
 
 
469,036

Total assets less current liabilities
  
702,252
496,345

Provisions for liabilities
  

Deferred tax
 8 
(26,741)
(5,189)

  
 
 
(26,741)
 
 
(5,189)

Net assets
  
675,511
491,156


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
675,411
491,056

Total equity
  
675,511
491,156


Page 1

 
PKS ORTHODONTICS LIMITED
REGISTERED NUMBER: 10661678
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P K Sharma
Director

Date: 6 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PKS ORTHODONTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

PKS Orthodontics Limited is a private company, limited by shares. The company is incorporated in England and Wales and its registered office address is of 1 Wincanton Gardens, Ilford, IG6 2BP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
PKS ORTHODONTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Motor vehicles
-
25%
Office equipment
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PKS ORTHODONTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
PKS ORTHODONTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
3,970
28,870
4,261
37,101


Additions
-
86,245
20,696
106,941


Disposals
-
(28,870)
-
(28,870)



At 31 March 2023

3,970
86,245
24,957
115,172



Depreciation


At 1 April 2022
1,256
7,218
1,318
9,792


Charge for the year on owned assets
271
8,970
1,228
10,469


Disposals
-
(12,052)
-
(12,052)



At 31 March 2023

1,527
4,136
2,546
8,209



Net book value



At 31 March 2023
2,443
82,109
22,411
106,963



At 31 March 2022
2,714
21,653
2,942
27,309


5.


Debtors

2023
2022
£
£


Trade debtors
36,349
16,042

Other debtors
75,000
75,000

111,349
91,042



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
519,739
418,535


Page 6

 
PKS ORTHODONTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
30,103
35,738

Other taxation and social security
-
686

Other creditors
3,167
1,737

Accruals and deferred income
2,529
2,380

35,799
40,541



8.


Deferred taxation




2023


£






At beginning of year
(5,189)


Charged to profit or loss
(21,552)



At end of year
(26,741)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(26,741)
(5,189)


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,000 (2022: £15,210).

 
Page 7