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REGISTERED NUMBER: 07154773 (England and Wales)












RICHMOND HILL ORTHODONTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RICHMOND HILL ORTHODONTICS LIMITED

COMPANY INFORMATION
for the year ended 31st March 2023







DIRECTORS: Dr R M Hennebry
Dr V Hennebry





REGISTERED OFFICE: 64 Sheen Road
Richmond
Surrey
TW9 1UF





REGISTERED NUMBER: 07154773 (England and Wales)





ACCOUNTANTS: Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

BALANCE SHEET
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,906,323 311,646
Tangible assets 5 1,725,012 1,616,204
4,631,335 1,927,850

CURRENT ASSETS
Stocks 43,884 1,800
Debtors 6 171,910 118,542
Cash at bank and in hand 433,179 169,365
648,973 289,707
CREDITORS
Amounts falling due within one year 7 2,612,974 250,222
NET CURRENT (LIABILITIES)/ASSETS (1,964,001 ) 39,485
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,667,334

1,967,335

CREDITORS
Amounts falling due after more than one year 8 (1,565,329 ) (1,182,264 )

PROVISIONS FOR LIABILITIES (47,000 ) (35,418 )
NET ASSETS 1,055,005 749,653

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 1,054,995 749,643
1,055,005 749,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

BALANCE SHEET - continued
31st March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th April 2024 and were signed on its behalf by:





Dr R M Hennebry - Director


RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Richmond Hill Orthodontics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of the net assets acquired. The difference between the acquisition cost and the expected residual value at the end of the useful economic life is identified as the depreciable amount. This amount is being allocated on an even annual basis over a useful life of 10 years from 1 April 2022..

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Dental equipment - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022 550,000
Additions 2,639,823
At 31st March 2023 3,189,823
AMORTISATION
At 1st April 2022 238,354
Amortisation for year 45,146
At 31st March 2023 283,500
NET BOOK VALUE
At 31st March 2023 2,906,323
At 31st March 2022 311,646

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2023

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Dental
property property equipment
£    £    £   
COST
At 1st April 2022 1,424,587 162,181 90,447
Additions - 43,298 78,030
At 31st March 2023 1,424,587 205,479 168,477
DEPRECIATION
At 1st April 2022 61,732 2,732 30,292
Charge for year 28,492 3,394 39,426
At 31st March 2023 90,224 6,126 69,718
NET BOOK VALUE
At 31st March 2023 1,334,363 199,353 98,759
At 31st March 2022 1,362,855 159,449 60,155

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st April 2022 58,143 1,000 1,736,358
Additions 36,448 61,948 219,724
At 31st March 2023 94,591 62,948 1,956,082
DEPRECIATION
At 1st April 2022 25,086 313 120,155
Charge for year 24,032 15,571 110,915
At 31st March 2023 49,118 15,884 231,070
NET BOOK VALUE
At 31st March 2023 45,473 47,064 1,725,012
At 31st March 2022 33,057 687 1,616,203

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 124,357 81,531
Amounts owed by group undertakings - 37,011
Other debtors 674 -
Prepayments and accrued income 46,879 -
171,910 118,542

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 80,315 25,233
Trade creditors 182,532 3,000
Amounts owed to associates 112,678 -
Tax 185,292 42,092
Social security and other taxes 19,210 -
Pensions 2,756 -
Wages 9,213 -
Other creditors - 16,051
Credit Card 19,246 -
Directors' current accounts 1,990,732 161,446
Accrued expenses 11,000 2,400
2,612,974 250,222

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans > 1 year 1,565,329 1,182,264