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REGISTERED NUMBER: 08291042 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Harbour Orthodontics Limited

Harbour Orthodontics Limited (Registered number: 08291042)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Harbour Orthodontics Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: E J A Dixon
Mrs V J Dixon





REGISTERED OFFICE: 17 The Waterfront
Eastbourne
East Sussex
BN23 5UZ





REGISTERED NUMBER: 08291042 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Harbour Orthodontics Limited (Registered number: 08291042)

Balance Sheet
31 March 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 107,444 69,895
Investments 5 1,061,972 1,061,972
1,169,416 1,131,867

CURRENT ASSETS
Cash at bank 27,894 20,539

CREDITORS
Amounts falling due within one year 6 467,779 540,344
NET CURRENT LIABILITIES (439,885 ) (519,805 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

729,531

612,062

CREDITORS
Amounts falling due after more than one year 7 (461,418 ) (498,447 )

PROVISIONS FOR LIABILITIES (20,165 ) (12,915 )
NET ASSETS 247,948 100,700

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 247,946 100,698
SHAREHOLDERS' FUNDS 247,948 100,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Harbour Orthodontics Limited (Registered number: 08291042)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





E J A Dixon - Director


Harbour Orthodontics Limited (Registered number: 08291042)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Harbour Orthodontics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance and 10% on cost

Investments
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment of assets
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors and creditors receivable/payable in one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Harbour Orthodontics Limited (Registered number: 08291042)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

Harbour Orthodontics Limited (Registered number: 08291042)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 19,260 181,698 200,958
Additions - 59,730 59,730
At 31 March 2024 19,260 241,428 260,688
DEPRECIATION
At 1 April 2023 19,259 111,804 131,063
Charge for year - 22,181 22,181
At 31 March 2024 19,259 133,985 153,244
NET BOOK VALUE
At 31 March 2024 1 107,443 107,444
At 31 March 2023 1 69,894 69,895

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 84,216
DEPRECIATION
At 1 April 2023 54,609
Charge for year 7,402
At 31 March 2024 62,011
NET BOOK VALUE
At 31 March 2024 22,205
At 31 March 2023 29,607

Harbour Orthodontics Limited (Registered number: 08291042)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
as restated
£    £   
Brought forward 1,061,972 1,061,972

Fixed Asset Investments represents the company's capital account balance in a Limited Liability Partnership.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 30,174 35,910
Hire purchase contracts 12,593 16,791
Trade creditors 13,252 28,701
Taxation and social security 60,359 39,346
Other creditors 351,401 419,596
467,779 540,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 461,418 485,854
Hire purchase contracts - 12,593
461,418 498,447

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 340,723 342,214

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 491,592 521,764

Harbour Orthodontics Limited (Registered number: 08291042)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. RELATED PARTY DISCLOSURES

As at 31 March 2024 £334,412 (2023: £408,649) was owed to a connected entity controlled by key management personnel. The loan is interest free, repayable on demand and included in other creditors.