Company registration number 06149552 (England and Wales)
DEVON SQUARE ORTHODONTICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DEVON SQUARE ORTHODONTICS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DEVON SQUARE ORTHODONTICS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
465,470
543,049
Tangible assets
4
90,656
57,949
556,126
600,998
Current assets
Stocks
9,535
25,086
Debtors
5
484,850
347,619
Cash at bank and in hand
1,082
1,440
495,467
374,145
Creditors: amounts falling due within one year
6
(88,825)
(81,998)
Net current assets
406,642
292,147
Total assets less current liabilities
962,768
893,145
Provisions for liabilities
(18,164)
(12,162)
Net assets
944,604
880,983
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
944,504
880,883
Total equity
944,604
880,983

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

DEVON SQUARE ORTHODONTICS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 12 October 2024
Dr A  Akram
Director
Company registration number 06149552 (England and Wales)
DEVON SQUARE ORTHODONTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Devon Square Orthodontics Limited is a private company limited by shares incorporated in England and Wales. The registered office is 29-30 Devon Square, Newton Abbot, Devon, TQ12 2HH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% & 15% per annum on cost
Fixtures and fittings
15% per annum on cost
Computers
33% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEVON SQUARE ORTHODONTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Taxation includes payments in respect of group relief of losses.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
13
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
1,551,569
Amortisation and impairment
At 1 April 2023
1,008,520
Amortisation charged for the year
77,579
At 31 March 2024
1,086,099
Carrying amount
At 31 March 2024
465,470
At 31 March 2023
543,049
DEVON SQUARE ORTHODONTICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
403,687
Additions
48,987
At 31 March 2024
452,674
Depreciation and impairment
At 1 April 2023
345,738
Depreciation charged in the year
16,280
At 31 March 2024
362,018
Carrying amount
At 31 March 2024
90,656
At 31 March 2023
57,949
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
97,673
86,854
Other debtors
387,177
260,765
484,850
347,619
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
32,712
38,331
Taxation and social security
49,054
35,886
Other creditors
7,059
7,781
88,825
81,998
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
109,795
146,820
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