Cheltenham Orthodontics Limited
Cheltenham Orthodontics Limited
Registered number: 06538346
Unaudited Financial Statements
For The Year Ended
30 September 2022
Sheppards Chartered Accountants
Suite A, 2nd Floor Kennedy House
31 Stamford Street
Altrincham
Cheshire
WA14 1ES
Cheltenham Orthodontics Limited
Unaudited Financial Statements
For The Year Ended
30 September 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Cheltenham Orthodontics Limited
Balance Sheet
As at
30 September 2022
Balance Sheet
Registered number:
06538346
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks | 6 |
|
|
||
| Debtors | 7 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 8 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 9 |
( |
( |
||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
( |
( |
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
|
|
||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 955,999 | 469,259 | |||
Cheltenham Orthodontics Limited
Balance Sheet (continued)
As at
30 September 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Cheltenham Orthodontics Limited
Notes to the Financial Statements
For The Year Ended
30 September 2022
Notes to the Financial Statements
1.
General Information
Cheltenham Orthodontics Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
06538346
. The registered office is Suite A, 2nd Floor, Kennedy House, 31 Stamford Street, Altrincham, Cheshire, WA14 1ES.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.
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.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
2.5.
Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.
2.6.
Taxation
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.
2.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8 (2021: 8)
Cheltenham Orthodontics Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2022
4.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
|
|
||
| As at
|
|
||
| Amortisation | |||
| As at
|
|
||
| As at
|
|
||
| Net Book Value | |||
| As at
|
|
||
| As at
|
|
||
5.
Tangible Assets
| Plant & Machinery etc. | |
|---|---|
| £ | |
| Cost | |
| As at
|
|
| As at
|
|
| Depreciation | |
| As at
|
|
| Provided during the period |
|
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
6.
Stocks
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
|
|
|
||
7.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by group undertakings | 360,206 | 353,074 | |
| Other debtors | 1,090,649 | 641,904 | |
|
|
|
||
Cheltenham Orthodontics Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2022
8.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other creditors | 221,517 | 247,502 | |
| Taxation and social security |
|
|
|
|
|
|
||
9.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
|
|
|
||
11.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
|
Amounts advanced | Amounts repaid | Amounts written off | As at
|
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Dr Siamack Bagheri |
|
|
( |
- |
|
The above loan is unsecured and repayable on demand.
12.
Ultimate Controlling Party
The company is a wholly owned subsidiary of The Orthodontist Limited, a company incorporated in England and Wales.