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Registered number: 11969502













WOODLANDS ORTHODONTIC PRACTICE LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024


 
WOODLANDS ORTHODONTIC PRACTICE LIMITED
 

 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WOODLANDS ORTHODONTIC PRACTICE LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Woodlands Orthodontic Practice Limited for the year ended 30 April 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Woodlands Orthodontic Practice Limited, as a body, in accordance with the terms of our engagement letter dated 10 August 2022Our work has been undertaken solely to prepare for your approval the financial statements of Woodlands Orthodontic Practice Limited and state those matters that we have agreed to state to the Board of Directors of Woodlands Orthodontic Practice Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woodlands Orthodontic Practice Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Woodlands Orthodontic Practice Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Woodlands Orthodontic Practice Limited. You consider that Woodlands Orthodontic Practice Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Woodlands Orthodontic Practice Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Warrener Stewart
 
Chartered Accountants
  
Harwood House
43 Harwood Road
London
SW6 4QP
22 October 2024
Page 1


 
WOODLANDS ORTHODONTIC PRACTICE LIMITED
REGISTERED NUMBER:11969502


BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
48,074
129,718

Cash at bank and in hand
  
22,735
21,060

  
70,809
150,778

Creditors: amounts falling due within one year
 5 
(68,911)
(150,139)

Net current assets
  
 
 
1,898
 
 
639

Total assets less current liabilities
  
1,898
639

  

Net assets
  
1,898
639


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
1,897
638

  
1,898
639

Page 2


 
WOODLANDS ORTHODONTIC PRACTICE LIMITED
REGISTERED NUMBER:11969502

    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider 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 directors acknowledge their 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 by: 




Dr F.J. Millen
Director

Date: 22 October 2024

The notes on pages 4 to 6 form part of these financial statements.
Page 3


 
WOODLANDS ORTHODONTIC PRACTICE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Woodlands Orthodontic Practice Limited is a private company limited by shares, incorporated and registered in England and Wales, United Kingdom. The registered office is 106 Woodlands, Harrow, HA2 6EW. 
The principal acivity of the company continued to be that of dental practice activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4


 
WOODLANDS ORTHODONTIC PRACTICE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

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 6 (2023 - 2).

Page 5


 
WOODLANDS ORTHODONTIC PRACTICE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Debtors

2024
2023
£
£


Other debtors
18,045
100,403

Tax recoverable
30,029
29,315

48,074
129,718



5.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
5,335

Corporation tax
13,315
65,305

Other creditors
96
-

Accruals and deferred income
55,500
79,499

68,911
150,139



6.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,649. Contributions totalling £96 were payable to the fund at the balance sheet date and are included in creditors


7.


Related party transactions

Included in other debtors is an overdrawn director loan of £18,045 (2023 : £100,403). This loan has an interest rate of 2.25% per annum and has no fixed terms of repayment. 


8.


Controlling party

Dr F.J. Millen and Mr A.R. McFarlane have joint control of the company by virtue of their shareholding
 
Page 6