HILL_ORTHODONTICS_LIMITED - Accounts
HILL_ORTHODONTICS_LIMITED - Accounts
Hill Orthodontics Limited is a private company limited by shares incorporated in Scotland. The registered office is 15 Gladstone Place, Stirling, FK8 2NN.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Significant judgements and estimates
The preparation of Financial Statements required management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period in which the estimate is revised and in any future periods affected.
The director is of the opinion there are no matters of significant judgement and estimation which are material to the financial statements.
Other debtors
The company was a corporate partner in the partnership of Central Orthodontics and included in the debtors balance is £321,401 (2018; £369,301) which is the company's interest in the partnership of Central Orthodontics.
During the year, Mr & Mrs Hill, the directors, provided a loan to the company. At the balance sheet date, the company owed Mr & Mrs Hill £30,024 (2018 - £29.293). The loan is unsecured, interest free and is repayable on demand.