THE_ORTHODONTIC_CLINIC_LT - Accounts
THE_ORTHODONTIC_CLINIC_LT - Accounts
Company Registration No. SC290127 (Scotland)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 AUGUST 2016
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBREVIATED BALANCE SHEET
AS AT
29 AUGUST 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(1,169,023 )
(943,927 )
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(55,249 )
(32,348 )
Provisions for liabilities
(9,668 )
(17,952 )
348,302
303,239
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
29 AUGUST 2016
- 2 -
Director's responsibilities:
-
-
Approved by the Board for issue on 29 August 2017
Director
Company Registration No. SC290127
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 29 AUGUST 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
1.2
Turnover
1.3
Tangible fixed assets and depreciation
Leasehold land and buildings
Plant and machinery
Computer equipment
Fixtures, fittings & equipment
1.4
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Stock
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the period they are payable.
1.7
Deferred taxation
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 29 AUGUST 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
485,472
Additions
1,330
At 29 August 2016
486,802
Depreciation
At 1 September 2015
317,238
Charge for the period
46,981
At 29 August 2016
364,219
Net book value
At 29 August 2016
122,583
At 31 August 2015
168,234
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £2,099 (2015 - £2,099).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £5,249 (2015 - £7,348).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
6
Ultimate parent company
The company's ultimate parent company is Sapphire Orthodontics Limited.