Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01false87truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08358916 2023-04-01 2024-03-31 08358916 2022-04-01 2023-03-31 08358916 2024-03-31 08358916 2023-03-31 08358916 c:Director1 2023-04-01 2024-03-31 08358916 d:PlantMachinery 2023-04-01 2024-03-31 08358916 d:PlantMachinery 2024-03-31 08358916 d:PlantMachinery 2023-03-31 08358916 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08358916 d:FurnitureFittings 2023-04-01 2024-03-31 08358916 d:FurnitureFittings 2024-03-31 08358916 d:FurnitureFittings 2023-03-31 08358916 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08358916 d:OfficeEquipment 2023-04-01 2024-03-31 08358916 d:OfficeEquipment 2024-03-31 08358916 d:OfficeEquipment 2023-03-31 08358916 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08358916 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08358916 d:Goodwill 2023-04-01 2024-03-31 08358916 d:Goodwill 2024-03-31 08358916 d:Goodwill 2023-03-31 08358916 d:CurrentFinancialInstruments 2024-03-31 08358916 d:CurrentFinancialInstruments 2023-03-31 08358916 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08358916 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08358916 d:ShareCapital 2024-03-31 08358916 d:ShareCapital 2023-03-31 08358916 d:RetainedEarningsAccumulatedLosses 2024-03-31 08358916 d:RetainedEarningsAccumulatedLosses 2023-03-31 08358916 c:FRS102 2023-04-01 2024-03-31 08358916 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08358916 c:FullAccounts 2023-04-01 2024-03-31 08358916 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08358916 2 2023-04-01 2024-03-31 08358916 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 08358916













Reigate Specialist Orthodontic Practice Ltd

Financial statements
Information for filing with the registrar

31 March 2024




 
Reigate Specialist Orthodontic Practice Ltd


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
65,644
39,634

  
65,644
39,634

Current assets
  

Stocks
  
16,309
8,500

Debtors
 6 
784,376
655,821

Cash at bank and in hand
  
69,472
126,651

  
870,157
790,972

Creditors: amounts falling due within one year
 7 
(211,067)
(164,528)

Net current assets
  
 
 
659,090
 
 
626,444

Total assets less current liabilities
  
724,734
666,078

Provisions for liabilities
  

Deferred tax
  
(16,313)
(9,828)

Net assets
  
708,421
656,250


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
708,321
656,150

Shareholders' funds
  
708,421
656,250


1

 
Reigate Specialist Orthodontic Practice Ltd

    
Balance sheet (continued)
At 31 March 2024

The director considers 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 director acknowledges her 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 20 August 2024.




Z Recape
Director

Registered number: 08358916
The notes on pages 3 to 9 form part of these financial statements. 

2

 
Reigate Specialist Orthodontic Practice Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

Reigate Specialist Orthodontic Practice Ltd ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England and Wales. The address of the registered office is 2nd Floor, Citygate, St James Boulevard, Newcastle upon Tyne, Tyne and Wear, NE1 4JE.

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 recognised in the profit and loss account represents private fees and facial aesthetic income receivable during the year.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

3

 
Reigate Specialist Orthodontic Practice Ltd
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 The estimated useful lives range as follows:

Goodwill
-
10
years

4

 
Reigate Specialist Orthodontic Practice Ltd
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.7

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.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
20%
straight line

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
5

 
Reigate Specialist Orthodontic Practice Ltd
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 7).

6

 
Reigate Specialist Orthodontic Practice Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
293,115



At 31 March 2024

293,115



Amortisation


At 1 April 2023
293,115



At 31 March 2024

293,115



Net book value



At 31 March 2024
-



At 31 March 2023
-



7

 
Reigate Specialist Orthodontic Practice Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost


At 1 April 2023
108,701
29,366
2,859
140,926


Additions
21,523
17,393
780
39,696



At 31 March 2024

130,224
46,759
3,639
180,622



Depreciation


At 1 April 2023
78,393
22,602
297
101,292


Charge for the year
9,462
3,593
631
13,686



At 31 March 2024

87,855
26,195
928
114,978



Net book value



At 31 March 2024
42,369
20,564
2,711
65,644



At 31 March 2023
30,308
6,764
2,562
39,634


6.


Debtors

2024
2023
£
£


Trade debtors
2,641
13,787

Amounts owed by group undertakings
774,063
633,392

Other debtors
18
1,458

Prepayments and accrued income
7,654
7,184

784,376
655,821


8

 
Reigate Specialist Orthodontic Practice Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
36,463
29,426

Corporation tax
-
22,489

Other taxation and social security
3,653
2,886

Obligations under finance lease and hire purchase contracts
11,675
-

Other creditors
915
755

Accruals and deferred income
158,361
108,972

211,067
164,528



8.


Related party transactions

During the year, the company operated on normal commercial terms with Hecros Limited. The amount owed from Hecros Limited at 31 March 2024 was £774,063 (2023: £633,392 due from Hecros Limited).

 
9