Caseware UK (AP4) 2022.0.179 2022.0.179 false92022-05-01dental practice activities7truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07493604 2022-05-01 2023-04-30 07493604 2023-04-30 07493604 2021-05-01 2022-04-30 07493604 2022-04-30 07493604 c:Director1 2022-05-01 2023-04-30 07493604 d:PlantMachinery 2022-05-01 2023-04-30 07493604 d:PlantMachinery 2023-04-30 07493604 d:PlantMachinery 2022-04-30 07493604 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 07493604 d:ComputerEquipment 2022-05-01 2023-04-30 07493604 d:ComputerEquipment 2023-04-30 07493604 d:ComputerEquipment 2022-04-30 07493604 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 07493604 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 07493604 d:Goodwill 2022-05-01 2023-04-30 07493604 d:Goodwill 2023-04-30 07493604 d:Goodwill 2022-04-30 07493604 d:CurrentFinancialInstruments 2023-04-30 07493604 d:CurrentFinancialInstruments 2022-04-30 07493604 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07493604 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 07493604 d:ShareCapital 2023-04-30 07493604 d:ShareCapital 2022-04-30 07493604 d:RetainedEarningsAccumulatedLosses 2023-04-30 07493604 d:RetainedEarningsAccumulatedLosses 2022-04-30 07493604 c:FRS102 2022-05-01 2023-04-30 07493604 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 07493604 c:FullAccounts 2022-05-01 2023-04-30 07493604 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure
Registered number: 07493604













Ortho Exclusively Limited

Financial statements
Information for filing with the registrar

30 April 2023




 
Ortho Exclusively Limited


Balance sheet
At 30 April 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
11,700
11,700

Tangible assets
 5 
59,449
66,314

  
71,149
78,014

Current assets
  

Debtors: amounts falling due within one year
 6 
292,317
344,782

Bank and cash balances
  
2,013,252
1,409,657

  
2,305,569
1,754,439

Creditors: amounts falling due within one year
 7 
(701,094)
(605,841)

Net current assets
  
 
 
1,604,475
 
 
1,148,598

Total assets less current liabilities
  
1,675,624
1,226,612

Provisions for liabilities
  

Deferred tax
  
(14,722)
(16,448)

  
 
 
(14,722)
 
 
(16,448)

Net assets
  
1,660,902
1,210,164


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,660,802
1,210,064

Shareholders' funds
  
1,660,902
1,210,164


1

 
Ortho Exclusively Limited

    
Balance sheet (continued)
At 30 April 2023

The directors consider 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 directors acknowledge their 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 comprehensive income 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 on 31 January 2024.




G J B Cottam
Director

Registered number: 07493604
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Ortho Exclusively Limited
 
 

Notes to the financial statements
Year ended 30 April 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 64 Moorcroft Road, Birmingham, England, B13 8LU.

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

The turnover shown in the profit and loss account represents orthodontic fee income receivable during the period.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
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.

3

 
Ortho Exclusively Limited
 

 
Notes to the financial statements
Year ended 30 April 2023

2.Accounting policies (continued)

 
2.5

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.

Other intangible assets

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.

 Amortisation is provided on the following bases:

Goodwill
-
%
No amortisation

 
2.6

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%
reducing balance
Computer equipment
-
20%
reducing balance

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.

4

 
Ortho Exclusively Limited
 

 
Notes to the financial statements
Year ended 30 April 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 7).

5

 
Ortho Exclusively Limited
 
 

Notes to the financial statements
Year ended 30 April 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2022
11,700



At 30 April 2023

11,700






Net book value



At 30 April 2023
11,700



At 30 April 2022
11,700




5.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2022
84,120
3,485
87,605



At 30 April 2023

84,120
3,485
87,605



Depreciation


At 1 May 2022
20,130
1,162
21,292


Charge for the year
6,399
465
6,864



At 30 April 2023

26,529
1,627
28,156



Net book value



At 30 April 2023
57,591
1,858
59,449



At 30 April 2022
63,990
2,324
66,314

6

 
Ortho Exclusively Limited
 
 

Notes to the financial statements
Year ended 30 April 2023

6.


Debtors

2023
2022
£
£


Trade debtors
58,082
55,449

Amounts owed by joint ventures
2,389
-

Other debtors
231,846
289,333

292,317
344,782



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Amounts owed to joint ventures
570,291
468,258

Corporation tax
106,057
95,060

Other taxation and social security
2,459
1,855

Other creditors
15,489
35,188

Accruals and deferred income
6,798
5,480

701,094
605,841



8.


Related party transactions

During the year, the company operated on normal commercial terms with Harborne Orthodontics Limited. The amount due to Harborne Orthodontics Limited at 30 April 2023 was £570,291 (2022: £468,258 due to Harborne Orthodontics Limited).
During the year, the company operated on normal commercial terms with Gidcen Ltd. The amount due from Gidcen Ltd at 30 April 2023 was £2,389 (2022: £920 due to Gidcen Ltd).

 
7