BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the provision of orthodontic services. 14 August 2024 5 5 NI628228 2024-03-31 NI628228 2023-03-31 NI628228 2022-03-31 NI628228 2023-04-01 2024-03-31 NI628228 2022-04-01 2023-03-31 NI628228 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI628228 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI628228 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI628228 uk-core:ShareCapital 2024-03-31 NI628228 uk-core:ShareCapital 2023-03-31 NI628228 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI628228 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI628228 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI628228 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI628228 uk-bus:FRS102 2023-04-01 2024-03-31 NI628228 uk-core:Goodwill 2023-04-01 2024-03-31 NI628228 uk-core:LandBuildings 2023-04-01 2024-03-31 NI628228 uk-core:PlantMachinery 2023-04-01 2024-03-31 NI628228 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI628228 uk-core:Goodwill 2023-03-31 NI628228 uk-core:Goodwill 2024-03-31 NI628228 2023-04-01 2024-03-31 NI628228 uk-bus:Director1 2023-04-01 2024-03-31 NI628228 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Oriel Orthodontics Ltd.
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024



Oriel Orthodontics Ltd.
Company Registration Number: NI628228
ABRIDGED BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 2,877 7,935
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Current Assets
Cash at bank and in hand 361,969 329,241
Creditors: amounts falling due within one year (26,021) (24,141)
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Net Current Assets 335,948 305,100
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Total Assets less Current Liabilities 338,825 313,035
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Capital and Reserves
Called up share capital 100 100
Retained earnings 338,725 312,935
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Shareholders' Funds 338,825 313,035
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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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 14 August 2024 and signed on its behalf by
           
           
           
________________________________          
Dónal Macauley          
Director          
           



Oriel Orthodontics Ltd.
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Oriel Orthodontics Ltd. is a private company limited by shares incorporated in Northern Ireland. 12 Donaghaguy Road, Warrenpoint, Co. Down, BT34 3RZ , Northern Ireland is the registered office, which is also the principal place of business of the company. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
These financial statements cover the individual entity for the year ended 31st March 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 15% Straight line
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the year was:
 
  2024 2023
  Number Number
 
Employees 5 5
  ═════════ ═════════
     
4. Intangible assets
   
  Goodwill
  £
Cost
At 1 April 2023 10,000
  ─────────
 
At 31 March 2024 10,000
  ─────────
Amortisation
 
At 31 March 2024 10,000
  ─────────
Net book value
At 31 March 2024 -
  ═════════
           
5. Tangible assets
  Land and Plant and Fixtures, Total
  buildings machinery fittings and  
  freehold   equipment  
  £ £ £ £
Cost
At 1 April 2023 3,314 77,076 48,385 128,775
  ───────── ───────── ───────── ─────────
 
At 31 March 2024 3,314 77,076 48,385 128,775
  ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2023 852 72,834 47,154 120,840
Charge for the financial year 133 4,241 684 5,058
  ───────── ───────── ───────── ─────────
At 31 March 2024 985 77,075 47,838 125,898
  ───────── ───────── ───────── ─────────
Net book value
At 31 March 2024 2,329 1 547 2,877
  ═════════ ═════════ ═════════ ═════════
At 31 March 2023 2,462 4,242 1,231 7,935
  ═════════ ═════════ ═════════ ═════════