Registered number
07770541
Quayside Orthodontics Ltd
Filleted Accounts
30 September 2024
Quayside Orthodontics Ltd
Registered number: 07770541
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 653,763 779,931
Current assets
Stocks 5,000 5,000
Debtors 4 582,967 471,424
Cash at bank and in hand 279,125 229,525
867,092 705,949
Creditors: amounts falling due within one year 5 (215,648) (246,644)
Net current assets 651,444 459,305
Net assets 1,305,207 1,239,236
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,305,205 1,239,234
Shareholders' funds 1,305,207 1,239,236
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J C Davies
Director
Approved by the board on 9 June 2025
Quayside Orthodontics Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 20
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 57,215 1,358,678 1,415,893
Additions - 19,937 19,937
At 30 September 2024 57,215 1,378,615 1,435,830
Depreciation
At 1 October 2023 - 635,962 635,962
Charge for the year - 146,105 146,105
At 30 September 2024 - 782,067 782,067
Net book value
At 30 September 2024 57,215 596,548 653,763
At 30 September 2023 57,215 722,716 779,931
4 Debtors 2024 2023
£ £
Trade debtors 188,841 77,606
Other debtors 394,126 393,818
582,967 471,424
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 17,375 10,648
Obligations under finance lease and hire purchase contracts 49,570 125,862
Trade creditors 31,318 50,489
Taxation and social security costs 117,385 59,645
215,648 246,644
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
J C Davies
Directors loans 33,168 16,655 (40,000) 9,823
33,168 16,655 (40,000) 9,823
The loan was repaid within 9 months of the year end.
7 Controlling party
The controlling parties are JC Davies & Mrs R Davies by virtue of shareholding.
8 Other information
Quayside Orthodontics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Ty Royden
Jobswell Road
Johnstown
Carmarthen
SA31 3HG
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