Oral Health Solutions Limited
Oral Health Solutions Limited
Registered number: 07272890
Unaudited Financial Statements
For The Year Ended 30 June 2017
Lewis Ballard Ltd
Oral Health Solutions Limited
Unaudited Financial Statements
For The Year Ended 30 June 2017
Unaudited Financial Statements
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| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Oral Health Solutions Limited
Balance Sheet
As at
30 June 2017
Balance Sheet
Registered number:
07272890
For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 7 |
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| Tangible Assets | 8 |
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| CURRENT ASSETS | |||||
| Stocks | 9 |
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| Debtors | 10 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 11 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 12 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 13 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 14 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 3,525 | 40,916 | |||
Page 1
Oral Health Solutions Limited
Balance Sheet (continued)
As at
30 June 2017
Directors' responsibilities:
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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. - 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
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Oral Health Solutions Limited
Notes to the Unaudited Accounts
For The Year Ended 30 June 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Going Concern Disclosure
At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements if necessary. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
1.4.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
| Freehold |
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| Plant & Machinery |
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| Computer Equipment |
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1.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.7.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.8.
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.
1.9.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
Page 3
Oral Health Solutions Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2017 | 2016 | ||
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| Office and administration |
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7.
Intangible Assets
| Goodwill | |||
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| Amortisation | |||
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| Net Book Value | |||
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8.
Tangible Assets
| Land & Property | ||||
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| Freehold | Plant & Machinery | Computer Equipment | Total | |
| £ | £ | £ | £ | |
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| Additions |
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| Depreciation | ||||
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| Provided during the period |
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| Net Book Value | ||||
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Page 4
Oral Health Solutions Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
9.
Stocks
| 2017 | 2016 | ||
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| £ | £ | ||
| Stock |
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10.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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11.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| Net wages | - | 8,987 | |
| Patient charges |
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| Pensions control (Auto Enrolment) |
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| Accrued expenses |
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| Directors' loan accounts |
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12.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Bank loans |
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Page 5
Oral Health Solutions Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 30 June 2017
13.
Deferred Taxation
| 2017 | 2016 | ||
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| £ | £ | ||
| As at |
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| Deferred taxation |
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| Deferred tax |
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The provision for deferred taxation is made up of accelerated capital allowances
15.
Dividends
| 2017 | 2016 | ||
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| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 67,200 | 100,000 | ||
16.
Related Party Transactions
At the balance sheet the company owed the directors the following;
J Davies - £4,680 (2016 - £18,858)
L Davies - £110 (2016 - £nil)
At the balance sheet date the directors were voted £67,200 of dividends; J Davies £33,600 (2016 - £50,000) and L Davies £33,600 (2016 - £50,000).
17.
Ultimate Controlling Party
The company's ultimate controlling party is J Davies and L Davies by virtue of their shareholdings in the company.
18.
General Information
Oral Health Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07272890 . The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
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