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REGISTERED NUMBER: 08368763 (England and Wales)


















ODONTO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ODONTO LIMITED (REGISTERED NUMBER: 08368763)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ODONTO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Tabatabai
V Kolahi





SECRETARY: A Tabatabai





REGISTERED OFFICE: 166 Cathedral Road
CARDIFF
County of Cardiff
CF11 9JD





REGISTERED NUMBER: 08368763 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

ODONTO LIMITED (REGISTERED NUMBER: 08368763)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 60,702 56,732
60,702 56,732

CURRENT ASSETS
Stocks 5,000 4,000
Debtors 6 1,280,310 1,285,948
Cash at bank 431,273 313,725
1,716,583 1,603,673
CREDITORS
Amounts falling due within one year 7 (199,014 ) (208,093 )
NET CURRENT ASSETS 1,517,569 1,395,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,578,271

1,452,312

CREDITORS
Amounts falling due after more than one
year

8

-

(129,167

)

PROVISIONS FOR LIABILITIES (15,051 ) (14,087 )
NET ASSETS 1,563,220 1,309,058

CAPITAL AND RESERVES
Called up share capital 10 102 102
Retained earnings 1,563,118 1,308,956
SHAREHOLDERS' FUNDS 1,563,220 1,309,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ODONTO LIMITED (REGISTERED NUMBER: 08368763)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2025 and were signed on its behalf by:





A Tabatabai - Director


ODONTO LIMITED (REGISTERED NUMBER: 08368763)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Odonto Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover
Turnover represents fees receivable from the provision of dental and cosmetic services during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Based on the performance of the company since acquisition, the directors considers that the useful economic life of goodwill is still valid.

Goodwill is initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on cost

Stocks
Stocks are estimated by the directors.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ODONTO LIMITED (REGISTERED NUMBER: 08368763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Non-derivative financial instruments
Basic financial instruments are recognised at amortised cost.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 730,000
AMORTISATION
At 1 April 2023
and 31 March 2024 730,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
& equipment
£   
COST
At 1 April 2023 250,489
Additions 20,757
At 31 March 2024 271,246
DEPRECIATION
At 1 April 2023 193,757
Charge for year 16,787
At 31 March 2024 210,544
NET BOOK VALUE
At 31 March 2024 60,702
At 31 March 2023 56,732

ODONTO LIMITED (REGISTERED NUMBER: 08368763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 7,225 1,747
Social security and other tax - 309
Amounts owed from related
parties 517,232 528,449
Directors' current accounts 711,569 732,274
Prepayments 44,284 23,169
1,280,310 1,285,948

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 50,000
Trade creditors 48,110 33,474
Corporation tax 107,757 70,575
Social security and other taxes 3,454 -
Other creditors 18,892 32,370
Accruals and deferred income 20,801 21,674
199,014 208,093

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 100,000
Bank loans - 2-5 years - 29,167
- 129,167

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 179,167

The loan was repaid in full during the period and the charge satisfied in full.

After the year end but prior to the date of this report, the company pledged its assets as security for a related company loan which amounts to £780,000.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 B ordinary £1 2 2
100 Ordinary £1 100 100
102 102

ODONTO LIMITED (REGISTERED NUMBER: 08368763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
V Kolahi and A Tabatabai
Balance outstanding at start of year 732,274 591,883
Amounts advanced 816,721 732,274
Amounts repaid (837,426 ) (591,883 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 711,569 732,274

Interest has been charged on the loan at a commercial rate. The loan is due for repayment within nine months of the year end.

12. RELATED PARTY DISCLOSURES

The director charged the company rent at a commercial rate except during the period 1 April 2022 to 30 September 2023 when a rent-free period was granted. Rent has therefore been reduced by £18,000 (2023 - £36,000).