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REGISTERED NUMBER: 07154773 (England and Wales)












RICHMOND HILL ORTHODONTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)






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


RICHMOND HILL ORTHODONTICS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Dr R M Hennebry
Dr V Hennebry





REGISTERED OFFICE: 64 Sheen Road
Richmond
Surrey
TW9 1UF





REGISTERED NUMBER: 07154773 (England and Wales)





ACCOUNTANTS: Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,861,176 2,906,323
Tangible assets 5 1,662,196 1,725,012
4,523,372 4,631,335

CURRENT ASSETS
Stocks 63,797 43,884
Debtors 6 241,693 171,910
Cash at bank and in hand 1,161,948 433,179
1,467,438 648,973
CREDITORS
Amounts falling due within one year 7 (2,289,897 ) (2,612,974 )
NET CURRENT LIABILITIES (822,459 ) (1,964,001 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,700,913

2,667,334

CREDITORS
Amounts falling due after more than
one year

8

(1,488,445

)

(1,565,329

)

PROVISIONS FOR LIABILITIES (43,805 ) (47,000 )
NET ASSETS 2,168,663 1,055,005

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

BALANCE SHEET - continued
31 March 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 2,168,653 1,054,995
2,168,663 1,055,005

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.

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 Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





Dr R M Hennebry - Director


RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Richmond Hill Orthodontics 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of the net assets acquired. The difference between the acquisition cost and the expected residual value at the end of the useful economic life is identified as the depreciable amount. This amount is being allocated on an even annual basis over a useful life of 10 years from 1 April 2022.

Intangible assets
Intangible assets are 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.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Dental equipment - 25% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 39 ) .

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 3,189,823
AMORTISATION
At 1 April 2023 283,500
Amortisation for year 45,147
At 31 March 2024 328,647
NET BOOK VALUE
At 31 March 2024 2,861,176
At 31 March 2023 2,906,323

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Dental
property property equipment
£    £    £   
COST
At 1 April 2023 1,424,587 205,479 168,477
Additions - 18,415 18,628
At 31 March 2024 1,424,587 223,894 187,105
DEPRECIATION
At 1 April 2023 90,224 6,126 69,718
Charge for year 28,492 4,397 45,339
At 31 March 2024 118,716 10,523 115,057
NET BOOK VALUE
At 31 March 2024 1,305,871 213,371 72,048
At 31 March 2023 1,334,363 199,353 98,759

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 94,591 62,948 1,956,082
Additions - 4,840 41,883
At 31 March 2024 94,591 67,788 1,997,965
DEPRECIATION
At 1 April 2023 49,118 15,884 231,070
Charge for year 10,107 16,364 104,699
At 31 March 2024 59,225 32,248 335,769
NET BOOK VALUE
At 31 March 2024 35,366 35,540 1,662,196
At 31 March 2023 45,473 47,064 1,725,012

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 154,202 124,357
Other debtors 33,212 674
Prepayments and accrued income 54,279 46,879
241,693 171,910

RICHMOND HILL ORTHODONTICS LIMITED (REGISTERED NUMBER: 07154773)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 78,366 80,315
Trade creditors 141,366 182,532
Amounts owed to associates 54,531 112,678
Tax 424,170 185,292
Social security and other taxes 15,055 19,210
Pensions 3,378 2,756
Wages - 9,213
Other creditors 137 -
Credit Card 29,246 19,246
Directors' current accounts 1,490,617 1,990,732
Accrued expenses 53,031 11,000
2,289,897 2,612,974

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans > 1 year 1,488,445 1,565,329