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Registration number: 05898412

Accessible Orthodontics (O) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Accessible Orthodontics (O) Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

 

Accessible Orthodontics (O) Limited

Company Information

Director

Mr Alan Lintern Davey

Company secretary

Mr Jodi Eric Tabalotny

Mr David Zollo

Registered office

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

Accountants

Pattinsons Business Services Limited
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

Accessible Orthodontics (O) Limited

Director's Report for the Year Ended 31 March 2023

The director presents his report and the financial statements for the year ended 31 March 2023.

Director of the company

The director who held office during the year was as follows:

Mr Alan Lintern Davey

Principal activity

The principal activity of the company is dental (orthodontic) practice activities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 7 November 2023 and signed on its behalf by:

.


.........................................
Mr Alan Lintern Davey
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Accessible Orthodontics (O) Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Accessible Orthodontics (O) Limited for the year ended 31 March 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Accessible Orthodontics (O) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Accessible Orthodontics (O) Limited and state those matters that we have agreed to state to the Board of Directors of Accessible Orthodontics (O) Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Accessible Orthodontics (O) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Accessible Orthodontics (O) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Accessible Orthodontics (O) Limited. You consider that Accessible Orthodontics (O) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Accessible Orthodontics (O) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Limited
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

7 November 2023

 

Accessible Orthodontics (O) Limited

(Registration number: 05898412)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

34,874

37,245

Investments

6

24

24

 

34,898

37,269

Current assets

 

Debtors

7

75,289

33,154

Cash at bank and in hand

 

230,784

160,144

 

306,073

193,298

Creditors: Amounts falling due within one year

8

(138,715)

(51,675)

Net current assets

 

167,358

141,623

Total assets less current liabilities

 

202,256

178,892

Provisions for liabilities

(8,718)

(3,517)

Net assets

 

193,538

175,375

Capital and reserves

 

Called up share capital

9

351

339

Capital redemption reserve

12

12

Profit and loss account

193,175

175,024

Shareholders' funds

 

193,538

175,375

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Accessible Orthodontics (O) Limited

(Registration number: 05898412)
Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 November 2023
 

.


.........................................

Mr Alan Lintern Davey

Director

 

Accessible Orthodontics (O) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Engand and Wales.

The address of its registered office is:
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

These financial statements were authorised for issue by the director on 7 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Accessible Orthodontics (O) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line

Plant & machinery

5 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

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.

 

Accessible Orthodontics (O) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade debtors

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.

Trade creditors

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.

Share capital

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.

Dividends

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 7 (2022 - 8).

 

Accessible Orthodontics (O) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

36,000

36,000

At 31 March 2023

36,000

36,000

Amortisation

At 1 April 2022

36,000

36,000

At 31 March 2023

36,000

36,000

Carrying amount

At 31 March 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

22,445

25,960

48,405

Additions

-

8,520

8,520

At 31 March 2023

22,445

34,480

56,925

Depreciation

At 1 April 2022

9,036

2,124

11,160

Charge for the year

5,415

5,476

10,891

At 31 March 2023

14,451

7,600

22,051

Carrying amount

At 31 March 2023

7,994

26,880

34,874

At 31 March 2022

13,409

23,836

37,245

 

Accessible Orthodontics (O) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Investments

2023
£

2022
£

Investments in associates

24

24

Associates

£

Cost

At 1 April 2022

24

Provision

Carrying amount

At 31 March 2023

24

At 31 March 2022

24

7

Debtors

2023
£

2022
£

Prepayments

8,361

2,618

Other debtors

66,928

30,536

 

75,289

33,154

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

14,448

12,760

Taxation and social security

 

35,642

2,369

Other creditors

 

88,625

36,546

 

138,715

51,675

 

Accessible Orthodontics (O) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Share capital

Allotted, called up and fully paid shares

 

31.03.2023

31.03.2022

 

No.

£

No.

£

Ordinary shares of £1 each

24

24

24

24

Ordinary D shares of £1 each

12

12

12

12

Ordinary E shares of £1 each

303

303

303

303

Redeemable preference K shares of £1 (2022 - £0) each

12

12

-

-

 

351

351

339

339

10

Related party transactions

Loans from related parties

Dentine Issues Ltd

Included within debtors within one year is an amount of £83,821 (2022 - £25,122) due to Dentine Issues Ltd, a company connected by way of shareholder. The loan is interest free and has no set repayment terms.