Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31falsefalse2022-09-0157truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07454298 2022-09-01 2023-08-31 07454298 2021-09-01 2022-08-31 07454298 2023-08-31 07454298 2022-08-31 07454298 6 2022-09-01 2023-08-31 07454298 6 2021-09-01 2022-08-31 07454298 d:Director1 2022-09-01 2023-08-31 07454298 e:PlantMachinery 2022-09-01 2023-08-31 07454298 e:PlantMachinery 2023-08-31 07454298 e:PlantMachinery 2022-08-31 07454298 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07454298 e:FurnitureFittings 2022-09-01 2023-08-31 07454298 e:FurnitureFittings 2023-08-31 07454298 e:FurnitureFittings 2022-08-31 07454298 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07454298 e:OfficeEquipment 2022-09-01 2023-08-31 07454298 e:OfficeEquipment 2023-08-31 07454298 e:OfficeEquipment 2022-08-31 07454298 e:OfficeEquipment e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07454298 e:ComputerEquipment 2022-09-01 2023-08-31 07454298 e:ComputerEquipment 2023-08-31 07454298 e:ComputerEquipment 2022-08-31 07454298 e:ComputerEquipment e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07454298 e:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 07454298 e:CurrentFinancialInstruments 2023-08-31 07454298 e:CurrentFinancialInstruments 2022-08-31 07454298 e:Non-currentFinancialInstruments 2023-08-31 07454298 e:Non-currentFinancialInstruments 2022-08-31 07454298 e:CurrentFinancialInstruments e:WithinOneYear 2023-08-31 07454298 e:CurrentFinancialInstruments e:WithinOneYear 2022-08-31 07454298 e:UKTax 2022-09-01 2023-08-31 07454298 e:UKTax 2021-09-01 2022-08-31 07454298 e:ShareCapital 2023-08-31 07454298 e:ShareCapital 2022-08-31 07454298 e:RetainedEarningsAccumulatedLosses 2023-08-31 07454298 e:RetainedEarningsAccumulatedLosses 2022-08-31 07454298 d:FRS102 2022-09-01 2023-08-31 07454298 d:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 07454298 d:FullAccounts 2022-09-01 2023-08-31 07454298 d:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07454298 2 2022-09-01 2023-08-31 07454298 f:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 07454298










PRESTON ORTHODONTICS LTD








UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023
Director's responsibilities statement

The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

During the year under review the principal activity of the company was the provision of dental services.
The director considers the performance of the business to be satisfactory and future prospects to be reasonable.


 
PRESTON ORTHODONTICS LTD
 

 
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023

Results and dividends

The profit for the year, after taxation, amounted to £371,534 (2022 - £146,908).

The director paid dividends of £86,680 (2022: £84,260) during the year.

Director

The director who served during the year was:

Samer Salam 

Future developments

The director intends to continue looking at ways of increasing contract sales and reducing purchase costs.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Page 1

 
PRESTON ORTHODONTICS LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PRESTON ORTHODONTICS LTD
FOR THE YEAR ENDED 31 AUGUST 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Preston Orthodontics Ltd for the year ended 31 August 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Preston Orthodontics Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Preston Orthodontics Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Preston Orthodontics Ltd and its  director for our work or for this report.
 
 
It is your duty to ensure that Preston Orthodontics Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Preston Orthodontics Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Preston Orthodontics Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.







Shipleys Tax Planning

27 August 2024
Page 2

 
PRESTON ORTHODONTICS LTD
REGISTERED NUMBER: 07454298

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
2,103
2,627

  
2,103
2,627

Current assets
  

Stocks
  
2,908
2,908

Debtors: amounts falling due after more than one year
 7 
39,958
39,958

Debtors: amounts falling due within one year
 7 
720,156
264,480

Cash at bank and in hand
 8 
354,420
438,456

  
1,117,442
745,802

Creditors: amounts falling due within one year
 9 
(132,180)
(45,918)

Net current assets
  
 
 
985,262
 
 
699,884

Total assets less current liabilities
  
987,365
702,511

  

Net assets
  
987,365
702,511


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
987,265
702,411

  
987,365
702,511


Page 3

 
PRESTON ORTHODONTICS LTD
REGISTERED NUMBER: 07454298

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

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 his 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 27 August 2024.






Samer Salam
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
PRESTON ORTHODONTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Preston Orthodontics Limited is a company domiciled in England & Wales, registration number 07454298. The registered office is Wharf House, Victoria Quays, Wharf Street, Sheffield, S2 5SY.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

Page 5

 
PRESTON ORTHODONTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Taxation

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.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20% straight line
Fixtures and fittings
-
20% straight line
Office equipment
-
20% straight line
Computer equipment
-
33% 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.

 
2.6

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 weighted average 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
PRESTON ORTHODONTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2023
2022
£
£

Wages and salaries
65,175
83,908

Social security costs
4,016
9,028

69,191
92,936


The average monthly number of employees, including directors, during the year was 5 (2022 - 7).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
101,997
34,702

Adjustments in respect of previous periods
14
-


102,011
34,702


Total current tax
102,011
34,702
Page 7

 
PRESTON ORTHODONTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - the same as) the standard rate of corporation tax in the UK of 19% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
473,545
181,610


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
89,974
34,506

Effects of:


Capital allowances for year in excess of depreciation
-
196

Adjustments to tax charge in respect of prior periods
14
-

Marginal relief adjustment
12,023
-

Total tax charge for the year
102,011
34,702


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Dividends

2023
2022
£
£


Dividends paid on equity capital
86,680
84,260

86,680
84,260

Page 8

 
PRESTON ORTHODONTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2022
6,677
7,616
477
7,432
22,202



At 31 August 2023

6,677
7,616
477
7,432
22,202



Depreciation


At 1 September 2022
4,708
7,339
95
7,432
19,574


Charge for the year on owned assets
394
55
76
-
525



At 31 August 2023

5,102
7,394
171
7,432
20,099



Net book value



At 31 August 2023
1,575
222
306
-
2,103



At 31 August 2022
1,969
277
381
-
2,627


7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
39,958
39,958

39,958
39,958


2023
2022
£
£

Due within one year

Trade debtors
6,310
14,117

Other debtors
391,474
250,363

Prepayments and accrued income
322,372
-

720,156
264,480


Page 9

 
PRESTON ORTHODONTICS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
354,420
438,456

354,420
438,456



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,753
1,753

Corporation tax
101,997
35,716

Other taxation and social security
2,168
-

Other creditors
19,062
3,253

Accruals and deferred income
7,200
5,196

132,180
45,918



10.


Related party transactions

At the balance sheet date other debtors included £202,976 (2022: £230,263) as amounts owed by the director.


11.


Controlling party

The company is controlled by the director Dr Samer Salam.


Page 10