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Company registration number: 08894356
Angle House Orthodontics Islington Limited
Unaudited filleted financial statements
31 March 2023
Angle House Orthodontics Islington Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Angle House Orthodontics Islington Limited
Directors and other information
Directors Mr H A Patel
Mr A Al-Asady
Company number 08894356
Registered office 334 Whitchurch Lane
Edgware
Middlesex
HA8 6QX
Business address 53-55 Copenhagen Street
London
N1 0JH
Accountants Pandit & Associates Limited
Portland House
228 Portland Crescent
Stanmore
Middlesex
HA7 1LS
Bankers Lloyds Bank Plc
25 Gresham SteetLondon
EC2V 7HN
Angle House Orthodontics Islington Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Angle House Orthodontics Islington Limited
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 financial statements of Angle House Orthodontics Islington Limited for the year ended 31 March 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Angle House Orthodontics Islington 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 financial statements of Angle House Orthodontics Islington Limited and state those matters that we have agreed to state to the board of directors of Angle House Orthodontics Islington Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Angle House Orthodontics Islington Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Angle House Orthodontics Islington Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Angle House Orthodontics Islington Limited. You consider that Angle House Orthodontics Islington 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 financial statements of Angle House Orthodontics Islington 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 financial statements.
Pandit & Associates Limited
Chartered Certified Accountants
Portland House
228 Portland Crescent
Stanmore
Middlesex
HA7 1LS
16 November 2023
Angle House Orthodontics Islington Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 401,173 388,089
_______ _______
401,173 388,089
Current assets
Debtors 6 75,229 84,541
Cash at bank and in hand 11,435 62,800
_______ _______
86,664 147,341
Creditors: amounts falling due
within one year 7 ( 152,119) ( 146,089)
_______ _______
Net current (liabilities)/assets ( 65,455) 1,252
_______ _______
Total assets less current liabilities 335,718 389,341
Creditors: amounts falling due
after more than one year 8 ( 197,494) ( 208,406)
_______ _______
Net assets 138,224 180,935
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 138,222 180,933
_______ _______
Shareholders funds 138,224 180,935
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 November 2023 , and are signed on behalf of the board by:
Mr H A Patel Mr A Al-Asady
Director Director
Company registration number: 08894356
Angle House Orthodontics Islington Limited
Statement of changes in equity
Year ended 31 March 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2021 2 106,760 106,762
(Loss)/profit for the year 74,173 74,173
_______ _______ _______
Total comprehensive income for the year - 74,173 74,173
_______ _______ _______
At 31 March 2022 and 1 April 2022 2 180,933 180,935
(Loss)/profit for the year ( 42,711) ( 42,711)
_______ _______ _______
Total comprehensive income for the year - ( 42,711) ( 42,711)
_______ _______ _______
At 31 March 2023 2 138,222 138,224
_______ _______ _______
Angle House Orthodontics Islington Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 334 Whitchurch Lane, Edgware, Middlesex, HA8 6QX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 12 ).
5. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2022 290,417 147,756 438,173
Additions - 32,629 32,629
_______ _______ _______
At 31 March 2023 290,417 180,385 470,802
_______ _______ _______
Depreciation
At 1 April 2022 - 50,084 50,084
Charge for the year - 19,545 19,545
_______ _______ _______
At 31 March 2023 - 69,629 69,629
_______ _______ _______
Carrying amount
At 31 March 2023 290,417 110,756 401,173
_______ _______ _______
At 31 March 2022 290,417 97,672 388,089
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 74,937 70,125
Other debtors 292 14,416
_______ _______
75,229 84,541
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 25,614 24,908
Trade creditors 89,496 87,315
Social security and other taxes 4,922 3,250
Other creditors 32,087 30,616
_______ _______
152,119 146,089
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 182,086 208,406
Other creditors 15,408 -
_______ _______
197,494 208,406
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr H A Patel ( 1,527) ( 234) - ( 1,761)
Mrs K Patel ( 1,527) ( 30,552) 20,000 ( 12,079)
_______ _______ _______ _______
( 3,054) ( 30,786) 20,000 ( 13,840)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr H A Patel ( 1,527) - - ( 1,527)
Mrs K Patel ( 1,527) - - ( 1,527)
_______ _______ _______ _______
( 3,054) - - ( 3,054)
_______ _______ _______ _______