Newbury Orthodontics Limited - Period Ending 2018-04-30
Newbury Orthodontics Limited - Period Ending 2018-04-30
Registration number:
Newbury Orthodontics Limited
for the Year Ended 30 April 2018
Network House
Station Yard
Thame
Oxfordshire
OX9 3UH
Newbury Orthodontics Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Newbury Orthodontics Limited
Company Information
Directors |
Dr Oliver James Campbell Dr Catherine Hannah Campbell |
Registered office |
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Accountants |
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Page 1 |
Newbury Orthodontics Limited
(Registration number: 09554857)
Balance Sheet as at 30 April 2018
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2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Newbury Orthodontics Limited
(Registration number: 09554857)
Balance Sheet as at 30 April 2018
Approved and authorised by the
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Director
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Director
Page 3 |
Newbury Orthodontics Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
UK
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover
Turnover represents dental fees receivable.
Tax
The tax expense for the period comprises current tax.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Page 4 |
Newbury Orthodontics Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Equipment, fixtures and fittings |
Straight line basis - 5 years |
Computer equipment |
Straight line basis - 3 years |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Straight line basis - 10 years |
Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 5 |
Newbury Orthodontics Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2017 |
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At 30 April 2018 |
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Amortisation |
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At 1 May 2017 |
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Amortisation charge |
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At 30 April 2018 |
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Carrying amount |
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At 30 April 2018 |
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At 30 April 2017 |
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Tangible assets |
Computer equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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Depreciation |
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At 1 May 2017 |
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Charge for the year |
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At 30 April 2018 |
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Carrying amount |
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At 30 April 2018 |
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At 30 April 2017 |
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Debtors |
Page 6 |
Newbury Orthodontics Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Note |
2018 |
2017 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Directors current account (overdrawn) |
33,738 |
6,348 |
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Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Directors current account |
- |
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Other creditors |
3,420 |
- |
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Credit card account |
- |
13 |
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Corporation tax control |
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Deferred income |
91,827 |
103,750 |
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Dividends |
Final dividends paid
2018 |
2017 |
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Dividends paid |
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Related party transactions |
Summary of transactions with parent
Page 7 |