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Company Registration No. SC609230 (Scotland)
ORACARE (SCOTLAND) LIMITED Unaudited accounts for the year ended 29 February 2024
ORACARE (SCOTLAND) LIMITED Unaudited accounts Contents
Page
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ORACARE (SCOTLAND) LIMITED Company Information for the year ended 29 February 2024
Director
Saima Ikram
Company Number
SC609230 (Scotland)
Registered Office
383 NORTH DEESIDE ROAD CULTS ABERDEEN AB15 9SX SCOTLAND
Accountants
A2Z Accounting Solutions Limited 26 Grandholm Grove Aberdeen AB22 8AX
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ORACARE (SCOTLAND) LIMITED Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
289,094 
335,974 
Tangible assets
36,459 
44,730 
325,553 
380,704 
Current assets
Inventories
8,500 
8,500 
Debtors
106,444 
96,866 
Cash at bank and in hand
15,819 
11,692 
130,763 
117,058 
Creditors: amounts falling due within one year
(61,404)
(127,750)
Net current assets/(liabilities)
69,359 
(10,692)
Total assets less current liabilities
394,912 
370,012 
Creditors: amounts falling due after more than one year
(297,505)
(294,578)
Provisions for liabilities
Deferred tax
(7,323)
(7,323)
Net assets
90,084 
68,111 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
89,984 
68,011 
Shareholders' funds
90,084 
68,111 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 July 2024 and were signed on its behalf by
Saima Ikram Director Company Registration No. SC609230
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ORACARE (SCOTLAND) LIMITED Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
ORACARE (SCOTLAND) LIMITED is a private company, limited by shares, registered in Scotland, registration number SC609230. The registered office is 383 NORTH DEESIDE ROAD, CULTS, ABERDEEN, AB15 9SX, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows: Goodwill 10 years straight line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Going concern
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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ORACARE (SCOTLAND) LIMITED Notes to the Accounts for the year ended 29 February 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
468,798 
At 29 February 2024
468,798 
Amortisation
At 1 March 2023
132,824 
Charge for the year
46,880 
At 29 February 2024
179,704 
Net book value
At 29 February 2024
289,094 
At 28 February 2023
335,974 
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ORACARE (SCOTLAND) LIMITED Notes to the Accounts for the year ended 29 February 2024
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2023
71,881 
Additions
5,614 
At 29 February 2024
77,495 
Depreciation
At 1 March 2023
27,151 
Charge for the year
13,885 
At 29 February 2024
41,036 
Net book value
At 29 February 2024
36,459 
At 28 February 2023
44,730 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
89,133 
83,971 
Accrued income and prepayments
3,250 
3,250 
Other debtors
14,061 
9,645 
106,444 
96,866 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
52,033 
Obligations under finance leases and hire purchase contracts
- 
8,110 
Amounts owed to group undertakings and other participating interests
39,464 
39,464 
Taxes and social security
60,763 
49,766 
Other creditors
- 
14,253 
Loans from directors
(50,300)
(36,876)
Accruals
11,477 
1,000 
61,404 
127,750 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
287,288 
283,749 
Obligations under finance leases and hire purchase contracts
10,217 
10,829 
297,505 
294,578 
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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