Holywell House Orthodontics Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07594939 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HOLYWELL HOUSE ORTHODONTICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C M Barrs

Mrs A C Sammut

D L Daly

SECRETARY:

Mrs A C Sammut

REGISTERED OFFICE:

56 London Road

Hinckley

Leicestershire

LE10 1HL

REGISTERED NUMBER:

07594939 (England and Wales)

ACCOUNTANTS:

LDP Luckmans

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Intangible assets

4

3,086,398

3,315,257

Tangible assets

5

1,243,845

1,260,568

4,330,243

4,575,825

CURRENT ASSETS

Stocks

40,000

Debtors

6

484,577

243,002

Cash at bank and in hand

74,453

101,488

599,030

384,490

CREDITORS

Amounts falling due within one year

7

234,125

212,024

NET CURRENT ASSETS

364,905

172,466

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,695,148

4,748,291

CREDITORS

Amounts falling due after more than one
year

8

(3,837,019

)

(3,937,424

)

PROVISIONS FOR LIABILITIES

(48,853

)

(53,034

)

NET ASSETS

809,276

757,833

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

809,176

757,733

809,276

757,833

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 9 September 2025 and were signed on its behalf by:

Mrs C M Barrs - Director

1.	STATUTORY INFORMATION

Holywell House 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, being the amount paid in connection with the acquisitions of two businesses in 2017 and 2019 respectively, is being amortised evenly over the estimated useful lives of twenty years.

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.

Plant and machinery

-

20% on reducing balance

Computer equipment

-

33% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 43 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

4,577,179

AMORTISATION

At 1 January 2024

1,261,922

Amortisation for year

228,859

At 31 December 2024

1,490,781

NET BOOK VALUE

At 31 December 2024

3,086,398

At 31 December 2023

3,315,257

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

COST

At 1 January 2024

1,048,432

358,350

20,457

21,669

1,448,908

Additions

-

31,442

-

377

31,819

At 31 December 2024

1,048,432

389,792

20,457

22,046

1,480,727

DEPRECIATION

At 1 January 2024

-

169,562

6,093

12,685

188,340

Charge for year

-

40,740

2,874

4,928

48,542

At 31 December 2024

-

210,302

8,967

17,613

236,882

NET BOOK VALUE

At 31 December 2024

1,048,432

179,490

11,490

4,433

1,243,845

At 31 December 2023

1,048,432

188,788

14,364

8,984

1,260,568

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

242,483

233,809

Other debtors

232,000

-

Prepayments and accrued income

10,094

9,193

484,577

243,002

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

82,197

79,026

Tax

118,507

102,843

Other creditors

21,685

19,553

Directors' current accounts

2,137

1,000

Accrued expenses

9,599

9,602

234,125

212,024

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans - 1-2 years

85,490

82,197

Bank loans - 2-5 years

277,619

266,907

Bank loans more 5 yr by instal

330,730

426,932

Preference shares

3,143,180

Directors' loan accounts

-

18,208

3,837,019

3,937,424

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

3,143,180

Repayable by instalments

Bank loans more 5 yr by instal

330,730

426,932

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

776,036

855,062

Lloyds Bank PLC hold fixed and floating charges over the assets of the company.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Interest has been charged on the loan at a rate of 2.25%