Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-017falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SO306091 2022-04-01 2023-03-31 SO306091 2021-04-01 2022-03-31 SO306091 2023-03-31 SO306091 2022-03-31 SO306091 c:FurnitureFittings 2022-04-01 2023-03-31 SO306091 c:FurnitureFittings 2023-03-31 SO306091 c:FurnitureFittings 2022-03-31 SO306091 c:ComputerEquipment 2022-04-01 2023-03-31 SO306091 c:ComputerEquipment 2023-03-31 SO306091 c:ComputerEquipment 2022-03-31 SO306091 c:Goodwill 2022-04-01 2023-03-31 SO306091 c:Goodwill 2023-03-31 SO306091 c:Goodwill 2022-03-31 SO306091 c:CurrentFinancialInstruments 2023-03-31 SO306091 c:CurrentFinancialInstruments 2022-03-31 SO306091 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 SO306091 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 SO306091 d:FRS102 2022-04-01 2023-03-31 SO306091 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SO306091 d:FullAccounts 2022-04-01 2023-03-31 SO306091 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 SO306091 d:PartnerLLP1 2022-04-01 2023-03-31 SO306091 d:PartnerLLP2 2022-04-01 2023-03-31 SO306091 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 SO306091 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: SO306091










ABBEY PARK ORTHODONTICS LLP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
ABBEY PARK ORTHODONTICS LLP
 

INFORMATION




Designated Members

Mr A P Griffiths
Mrs K G Whitehouse

LLP registered number

SO306091

Registered office

Abbey Park Orthodontics LLP18 St Margaret StreetDunfermlineKY12 7PE

Accountants

EQ Accountants LLPPentland HouseSaltire CentreGlenrothesFifeKY6 2AH


 
ABBEY PARK ORTHODONTICS LLP
REGISTERED NUMBER: SO306091

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

Fixed assets
  

Intangible assets
 4 
-
137,083

Tangible assets
 5 
-
29,877

  
-
166,960

Current assets
  

Stocks
  
-
11,654

Debtors: amounts falling due within one year
 6 
113,219
215,859

Cash at bank and in hand
  
429,950
62,432

  
543,169
289,945

Creditors: Amounts Falling Due Within One Year
 7 
(4,818)
(12,431)

Net current assets
  
 
 
538,351
 
 
277,514

Total assets less current liabilities
  
538,351
444,474

  

Net assets
  
538,351
444,474


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
538,351
444,474

  
538,351
444,474

  

  
538,351
444,474


Total members' interests
  

Loans and other debts due to members
  
538,351
444,474

  
538,351
444,474


Page 1

 
ABBEY PARK ORTHODONTICS LLP
REGISTERED NUMBER: SO306091

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




Mr A P Griffiths
Mrs K G Whitehouse
Designated member
Designated member


Date: 5 October 2023

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

Abbey Park Orthodontics LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
ABBEY PARK ORTHODONTICS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1.


General information

Abbey Park Orthodontics LLP is a limited liability partnership incorporated in Scotland. The registered office is 18 St Margaret Street, Dunfermline, Fife, KY12 7PE.

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 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 LLP 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.

Page 3

 
ABBEY PARK ORTHODONTICS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP 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 Statement of Financial Position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.6

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.


Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
ABBEY PARK ORTHODONTICS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

2.Accounting policies (continued)

 
2.8

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, using the rates below.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
33%
straight line

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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Statement of Financial Position when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 7).

Page 5

 
ABBEY PARK ORTHODONTICS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

4.


Intangible assets




Goodwill

£





At 1 April 2022
274,166


Disposals
(274,166)



At 31st March 2023

-





At 1 April 2022
137,084


On disposals
(137,084)



At 31st March 2023

-



Net book value



At 31st March 2023
-



At 31st March 2022
137,082




5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£





At 1 April 2022
59,245
554
59,799


Disposals
(59,245)
(554)
(59,799)



At 31st March 2023

-
-
-





At 1 April 2022
29,368
554
29,922


Disposals
(29,368)
(554)
(29,922)



At 31st March 2023

-
-
-



Net book value



At 31st March 2023
-
-
-



At 31st March 2022
29,877
-
29,877

Page 6

 
ABBEY PARK ORTHODONTICS LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
4,045
58,720

Other debtors
100,000
79,282

Prepayments and accrued income
-
31,658

Amounts recoverable on long term contracts
9,174
46,200

113,219
215,860



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,218
2,448

Other taxation and social security
-
1,226

Accruals and deferred income
3,600
8,757

4,818
12,431



8.


Creditors: Amounts falling due after more than one year




The obligations under finance leases and hire purchase contracts due after more than one year of £nil (2021: £4,626) are secured over the assets they relate to.


Page 7