Caseware UK (AP4) 2023.0.135 2023.0.135 truefalse12023-04-01falsedental practice1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11273784 2023-04-01 2024-03-31 11273784 2022-04-01 2023-03-31 11273784 2024-03-31 11273784 2023-03-31 11273784 c:Director1 2023-04-01 2024-03-31 11273784 d:CurrentFinancialInstruments 2024-03-31 11273784 d:CurrentFinancialInstruments 2023-03-31 11273784 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11273784 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11273784 d:ShareCapital 2024-03-31 11273784 d:ShareCapital 2023-03-31 11273784 d:RetainedEarningsAccumulatedLosses 2024-03-31 11273784 d:RetainedEarningsAccumulatedLosses 2023-03-31 11273784 c:FRS102 2023-04-01 2024-03-31 11273784 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11273784 c:FullAccounts 2023-04-01 2024-03-31 11273784 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11273784 2 2023-04-01 2024-03-31 11273784 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 11273784













Embec Ortho Limited

Financial statements
Information for filing with the registrar

31 March 2024




 
Embec Ortho Limited


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors
 4 
39,135
76,033

Cash at bank and in hand
 5 
36,579
273

  
75,714
76,306

Creditors: amounts falling due within one year
 6 
(35,784)
(28,671)

Net current assets
  
 
 
39,930
 
 
47,635

Total assets less current liabilities
  
39,930
47,635

  

Net assets
  
39,930
47,635


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
39,830
47,535

Shareholders' funds
  
39,930
47,635

1

 
Embec Ortho Limited

    
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 21 October 2024.




Anne-Marie Smith
Director

Registered number: 11273784
The notes on pages 3 to 6 form part of these financial statements. 
2

 
Embec Ortho Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

Embec Ortho Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is given in the company information page of this annual report.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard' applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

The turnover shown in the profit and loss account represents management fees receivable
during the period.

 
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.

 
2.5

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.

 
2.6

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.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

3

 
Embec Ortho Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)


2.6
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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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
4

 
Embec Ortho Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.7

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

The average monthly number of employees, including directors, during the year was 1 (2023: 1).

5

 
Embec Ortho Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Debtors

2024
2023
£
£


Other debtors
39,135
76,033

39,135
76,033



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
36,579
273

36,579
273



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
792
2,508

Corporation tax
4,299
4,455

Other creditors
27,963
19,200

Accruals and deferred income
2,730
2,508

35,784
28,671



7.


Related party transactions

During the year E F Smith operated a shareholder's loan account with the company. At 31 March 2024 the balance owed to the company was £7,068 (2023: £13,017).
During the year R E Smith operated a shareholder's loan account with the company. At 31 March 2024 the balance owed to the company was £7,068 (2023: £13,017).

 
6