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Company registration number: 11290297
Shaunak Popat Orthodontists Limited
Trading as Angle House Orthodontists Edgware High St
Unaudited filleted financial statements
30 September 2024
Shaunak Popat Orthodontists Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Shaunak Popat Orthodontists Limited
Directors and other information
Directors Mr H A Patel
Mr S Popat
Company number 11290297
Registered office 54-58 High Street
Edgware
Middlesex
HA8 7EJ
Business address 5th Floor
54-58 High Street
Edgware
Middlesex
HA8 7EJ
Accountants Hindocha Pandit & Co Limited
34 Queensbury Station Parade
Edgware
Middlesex
HA8 5NN
Bankers Santander UK Plc
2 Triton Square
Regent's Square
London
NW1 3AN
Shaunak Popat Orthodontists Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Shaunak Popat Orthodontists Limited
Year ended 30 September 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 Shaunak Popat Orthodontists Limited for the year ended 30 September 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Shaunak Popat Orthodontists Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Shaunak Popat Orthodontists Limited and state those matters that we have agreed to state to the board of directors of Shaunak Popat Orthodontists Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shaunak Popat Orthodontists Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Shaunak Popat Orthodontists 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 loss of Shaunak Popat Orthodontists Limited. You consider that Shaunak Popat Orthodontists Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Shaunak Popat Orthodontists 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.
Hindocha Pandit & Co Limited
Chartered Certified Accoutants
34 Queensbury Station Parade
Edgware
Middlesex
HA8 5NN
22 May 2025
Shaunak Popat Orthodontists Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 1,987,500 2,120,000
Tangible assets 6 883,828 371,575
_______ _______
2,871,328 2,491,575
Current assets
Debtors 7 292,201 1,081,247
Cash at bank and in hand 5,687 799
_______ _______
297,888 1,082,046
Creditors: amounts falling due
within one year 8 ( 1,104,583) ( 921,762)
_______ _______
Net current (liabilities)/assets ( 806,695) 160,284
_______ _______
Total assets less current liabilities 2,064,633 2,651,859
Creditors: amounts falling due
after more than one year 9 ( 917,062) ( 1,276,609)
_______ _______
Net assets 1,147,571 1,375,250
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,147,471 1,375,150
_______ _______
Shareholders funds 1,147,571 1,375,250
_______ _______
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr H A Patel Mr S Popat
Director Director
Company registration number: 11290297
Shaunak Popat Orthodontists Limited
Statement of changes in equity
Year ended 30 September 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 October 2022 100 1,423,218 1,423,318
Loss for the year ( 48,068) ( 48,068)
_______ _______ _______
Total comprehensive income for the year - ( 48,068) ( 48,068)
_______ _______ _______
At 30 September 2023 and 1 October 2023 100 1,375,150 1,375,250
Loss for the year ( 227,679) ( 227,679)
_______ _______ _______
Total comprehensive income for the year - ( 227,679) ( 227,679)
_______ _______ _______
At 30 September 2024 100 1,147,471 1,147,571
_______ _______ _______
Shaunak Popat Orthodontists Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5th Floor, 54-58 High Street, Edgware, Middlesex, HA8 7EJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in 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 in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2023: 21 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 October 2023 and 30 September 2024 2,650,000 2,650,000
_______ _______
Amortisation
At 1 October 2023 530,000 530,000
Charge for the year 132,500 132,500
_______ _______
At 30 September 2024 662,500 662,500
_______ _______
Carrying amount
At 30 September 2024 1,987,500 1,987,500
_______ _______
At 30 September 2023 2,120,000 2,120,000
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 October 2023 520,660 21,250 541,910
Additions 163,491 504,732 668,223
_______ _______ _______
At 30 September 2024 684,151 525,982 1,210,133
_______ _______ _______
Depreciation
At 1 October 2023 164,458 5,877 170,335
Charge for the year 77,954 78,016 155,970
_______ _______ _______
At 30 September 2024 242,412 83,893 326,305
_______ _______ _______
Carrying amount
At 30 September 2024 441,739 442,089 883,828
_______ _______ _______
At 30 September 2023 356,202 15,373 371,575
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 175,739 338,751
Amounts owed by group undertakings and undertakings in which the company has a participating interest 81,021 81,021
Other debtors 35,441 661,475
_______ _______
292,201 1,081,247
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 208,016 208,016
Trade creditors 232,881 226,708
Amounts owed to group undertakings and undertakings in which the company has a participating interest 92,814 171,074
Corporation tax - 28,776
Social security and other taxes 13,543 9,397
Other creditors 557,329 277,791
_______ _______
1,104,583 921,762
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 510,965 638,083
Other creditors 406,097 638,526
_______ _______
917,062 1,276,609
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr H A Patel ( 78,905) ( 100,970) ( 179,875)
Mr S Popat ( 78,905) ( 180,000) ( 258,905)
_______ _______ _______
( 157,810) ( 280,970) ( 438,780)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr H A Patel ( 78,905) - ( 78,905)
Mr S Popat ( 78,905) - ( 78,905)
_______ _______ _______
( 157,810) - ( 157,810)
_______ _______ _______
11. Controlling party
During the year the company was under the control of Mr H A Patel and Mr S Popat the directors of the company. The shares of the company are held equally by Angle House Limited and Faces & Smiles Limited of which Mr Patel and Mr Popat are also director's and shareholders.