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ORB IMPLANTS LIMITED

Registered Number
14382999
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

ORB IMPLANTS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Dr Oliver Brown
Dr Martha Hilliard

Registered Address

Fulford Lodge 1 Heslington Lane
Fulford
York
YO10 4HW

Registered Number

14382999 (England and Wales)
ORB IMPLANTS LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets347,1783,349
47,1783,349
Current assets
Stocks1,00025,000
Debtors444,53119,945
Cash at bank and on hand37,26858,315
82,799103,260
Creditors amounts falling due within one year5(83,531)(30,013)
Net current assets (liabilities)(732)73,247
Total assets less current liabilities46,44676,596
Creditors amounts falling due after one year(17,327)-
Net assets29,11976,596
Capital and reserves
Called up share capital100100
Profit and loss account29,01976,496
Shareholders' funds29,11976,596
The financial statements were approved and authorised for issue by the Board of Directors on 29 January 2025, and are signed on its behalf by:
Dr Martha Hilliard
Director
Dr Oliver Brown
Director

Registered Company No. 14382999
ORB IMPLANTS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the entity.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Turnover policy
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year end date is recognised by reference to the state of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Reducing balance (%)
Plant and machinery20
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Stocks and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing the stock to its present location and condition.
2.Average number of employees

20242023
Average number of employees during the year21
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 233,721
Additions55,205
At 31 March 2458,926
Depreciation and impairment
At 01 April 23372
Charge for year11,376
At 31 March 2411,748
Net book value
At 31 March 2447,178
At 31 March 233,349
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables44,53119,945
Total44,53119,945
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,2282,386
Amounts owed to related parties499606
Taxation and social security46,24526,302
Finance lease and HP contracts34,295-
Accrued liabilities and deferred income1,264719
Total83,53130,013
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts17,327-
7.Related party transactions
During the year the directors loaned the Company £499 (2023: £606), this amount remains outstanding at the year end. This loan incurred interest each month as at the Bank of England interest rate and is repayable on demand.