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REGISTERED NUMBER: 06580146 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

THE BRACE ORTHODONTIC GROUP LTD

THE BRACE ORTHODONTIC GROUP LTD (REGISTERED NUMBER: 06580146)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


THE BRACE ORTHODONTIC GROUP LTD (REGISTERED NUMBER: 06580146)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Investments 4 2 2

CURRENT ASSETS
Debtors 5 6,732,571 6,594,884
Cash at bank 81 60,152
6,732,652 6,655,036
CREDITORS
Amounts falling due within one year 6 (2,658,455 ) (2,752,552 )
NET CURRENT ASSETS 4,074,197 3,902,484
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,074,199

3,902,486

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 4,074,198 3,902,485
SHAREHOLDERS' FUNDS 4,074,199 3,902,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 January 2025 and were signed by:




Dr M Hasnaini - Director


THE BRACE ORTHODONTIC GROUP LTD (REGISTERED NUMBER: 06580146)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

The Brace Orthodontic Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06580146

Registered office: 15 Artillery Passage
London
E1 7LJ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about The Brace Orthodontic Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE BRACE ORTHODONTIC GROUP LTD (REGISTERED NUMBER: 06580146)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


THE BRACE ORTHODONTIC GROUP LTD (REGISTERED NUMBER: 06580146)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 2
NET BOOK VALUE
At 30 April 2024 2
At 30 April 2023 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

The Brace City Ltd
Registered office: 15 Artillery Passage, London, E1 7LJ
Nature of business: Dental practice activities
%
Class of shares: holding
Ordinary 100.00
30.4.24 30.4.23
£    £   
Aggregate capital and reserves 251,607 314,372
Profit for the year 137,235 316,695

THE BRACE ORTHODONTIC GROUP LTD (REGISTERED NUMBER: 06580146)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. FIXED ASSET INVESTMENTS - continued

The Brace Properties Ltd
Registered office: 15 Artillery Passage, London, E1 7LJ
Nature of business:
%
Class of shares: holding
Ordinary 100.00
30.4.24 30.4.23
£    £   
Aggregate capital and reserves 666,557 633,333
Profit for the year 33,323 281,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed by group undertakings 6,732,571 6,594,884

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed to group undertakings 2,383,865 2,476,215
Taxation and social security 252 -
Other creditors 274,338 276,337
2,658,455 2,752,552

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary £1 1 1

8. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under section 33.1A of FRS 102, from the requirement to disclose transactions with the wholly owned members of the group.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director by virtue of holding the entire issued share capital in the company.