Registered number
08227578
The Orchard Practice (AR) Limited
Filleted Accounts
31 December 2023
The Orchard Practice (AR) Limited
Registered number: 08227578
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 85,622 15,946
Investments 5 28,519 28,519
114,141 44,465
Current assets
Debtors 6 166,235 182,055
Cash at bank and in hand 244,210 339,623
410,445 521,678
Creditors: amounts falling due within one year 7 (98,770) (31,187)
Net current assets 311,675 490,491
Net assets 425,816 534,956
Capital and reserves
Called up share capital 200 200
Profit and loss account 425,616 534,756
Shareholders' funds 425,816 534,956
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Gerstler
Director
Approved by the board on 25 July 2024
The Orchard Practice (AR) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Fixtures and fittings 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 10,000
At 31 December 2023 10,000
Amortisation
At 1 January 2023 10,000
At 31 December 2023 10,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 48,513
Additions 85,000
At 31 December 2023 133,513
Depreciation
At 1 January 2023 32,567
Charge for the year 15,324
At 31 December 2023 47,891
Net book value
At 31 December 2023 85,622
At 31 December 2022 15,946
5 Investments
Other
investments
£
Cost
At 1 January 2023 28,519
At 31 December 2023 28,519
6 Debtors 2023 2022
£ £
Trade debtors 29,644 37,274
Loans 135,016 140,398
Other debtors 1,575 4,383
166,235 182,055
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,041 (58,420)
Taxation and social security costs 78,761 65,810
Other creditors 16,968 23,797
98,770 31,187
8 Controlling party
Each of the directors own 50% of the issued share capital and therefore there is no ultimate controlling party.
9 Other information
The Orchard Practice (AR) Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Penta Court
Station Road
Borehamwood
Hertfordshire
WD6 1SL
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