HCW Orthodontics Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09169109

HCW Orthodontics Limited

Unaudited financial statements

31 March 2025

HCW Orthodontics Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Intangible assets	5	171,726	200,346
Tangible assets	6	711,186	683,360
		---------	---------
		882,912	883,706

Current assets

Stocks		3,000	3,000
Debtors	7	26,993	16,700
Cash at bank and in hand		73,803	131,831
		---------	---------
		103,796	151,531

Creditors: Amounts falling due within one year	8	( 100,279)		( 104,510)
		---------		---------
Net current assets			3,517		47,021
			---------		---------
Total assets less current liabilities			886,429		930,727

Creditors: Amounts falling due after more than one year	9		( 588,261)		( 610,515)

Provisions

Taxation including deferred tax	( 17,525)	( 16,199)
	---------	---------
Net assets	280,643	304,013
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	280,543	303,913
	---------	---------
Shareholders funds	280,643	304,013
	---------	---------

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 income statement has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

HCW Orthodontics Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 31 December 2025 , and are signed on behalf of the board by:

Mr H Wong
Director

Company registration number: 09169109

HCW Orthodontics Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The company's registered office is Sixty Six, North Quay, Great Yarmouth, NR30 1HE. The trading address is 72 Berners Street, Ipswich, Suffolk, IP1 3LU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Judgements and key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Amortisation of goodwill is estimated over 10 years. The carrying value at the year end was £171,726 (2024: £200,346).

Revenue recognition

Turnover is in respect of dental services rendered and is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 esimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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	-	Over 10 years

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 subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Freehold property	-	2% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	33% straight line
Equipment	-	33% straight line

Stocks

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

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Defined contribution plans

Contributions to defined contribution pensions are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of employees during the year was 17 (2024: 14 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	286,206
	---------
Amortisation
At 1 April 2024	85,860
Charge for the year	28,620
	---------
At 31 March 2025	114,480
	---------
Carrying amount
At 31 March 2025	171,726
	---------
At 31 March 2024	200,346
	---------

6. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	644,283	82,440	8,196	44,804	779,723
Additions	26,581	23,851	–	3,152	53,584
	---------	---------	------	-------	---------
At 31 March 2025	670,864	106,291	8,196	47,956	833,307
	---------	---------	------	-------	---------
Depreciation
At 1 April 2024	25,720	22,218	6,846	41,579	96,363
Charge for the year	12,943	9,703	484	2,628	25,758
	---------	---------	------	-------	---------
At 31 March 2025	38,663	31,921	7,330	44,207	122,121
	---------	---------	------	-------	---------
Carrying amount
At 31 March 2025	632,201	74,370	866	3,749	711,186
	---------	---------	------	-------	---------
At 31 March 2024	618,563	60,222	1,350	3,225	683,360
	---------	---------	------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,459	3,032
Other debtors	25,534	13,668
	-------	-------
	26,993	16,700
	-------	-------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans	24,195	33,706
Trade creditors	21,734	9,103
Social security and other taxes	16,213	31,683
Other creditors	38,137	30,018
	---------	---------
	100,279	104,510
	---------	---------

Included in other creditors is an amount of £7,570 (2024 : £9,381) for hire purchase liabilities which are secured on the assets concerned.

The company operates multiple loans, one of which is secured on the property concerned.

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans	579,647	594,331
Other creditors	8,614	16,184
	---------	---------
	588,261	610,515
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £482,866 (2024 : £459,509) in respect of liabilities payable or repayable by instalments which fall for payment after more than five years from the reporting date. Obligations under hire purchase contracts are secured on the assets concerned. The company operates multiple loans, one of which is secured on the property concerned.