Company Registration No. SC609230 (Scotland)
ORACARE (SCOTLAND) LIMITED
Unaudited accounts
for the year ended 29 February 2024
ORACARE (SCOTLAND) LIMITED
Unaudited accounts
Contents
ORACARE (SCOTLAND) LIMITED
Company Information
for the year ended 29 February 2024
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
ORACARE (SCOTLAND) LIMITED
Statement of financial position
as at 29 February 2024
Intangible assets
289,094
335,974
Tangible assets
36,459
44,730
Cash at bank and in hand
15,819
11,692
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)
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
ORACARE (SCOTLAND) LIMITED
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (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 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.
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.
ORACARE (SCOTLAND) LIMITED
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
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 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
At 29 February 2024
468,798
Charge for the year
46,880
At 29 February 2024
179,704
At 29 February 2024
289,094
At 28 February 2023
335,974
ORACARE (SCOTLAND) LIMITED
Notes to the Accounts
for the year ended 29 February 2024
5
Tangible fixed assets
Plant & machinery
At 29 February 2024
77,495
Charge for the year
13,885
At 29 February 2024
41,036
At 29 February 2024
36,459
At 28 February 2023
44,730
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
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
Loans from directors
(50,300)
(36,876)
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
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).