Simply Orthodontics Ltd - Accounts to registrar (filleted) - small 18.2

Simply Orthodontics Ltd - Accounts to registrar (filleted) - small 18.2

SIMPLY ORTHODONTICS LTD - Company Information

Print Friendly Version

IRIS Accounts Production v18.2.0.360 07180570 Board of Directors 1.4.17 30.9.17 30.9.17 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure071805702017-03-31071805702017-09-30071805702017-04-012017-09-30071805702016-03-31071805702016-04-012017-03-31071805702017-03-3107180570ns15:EnglandWales2017-04-012017-09-3007180570ns14:PoundSterling2017-04-012017-09-3007180570ns10:Director12017-04-012017-09-3007180570ns10:PrivateLimitedCompanyLtd2017-04-012017-09-3007180570ns10:SmallEntities2017-04-012017-09-3007180570ns10:AuditExempt-NoAccountantsReport2017-04-012017-09-3007180570ns10:SmallCompaniesRegimeForDirectorsReport2017-04-012017-09-3007180570ns10:SmallCompaniesRegimeForAccounts2017-04-012017-09-3007180570ns10:FullAccounts2017-04-012017-09-300718057012017-04-012017-09-3007180570ns10:Director22017-04-012017-09-3007180570ns10:RegisteredOffice2017-04-012017-09-3007180570ns5:CurrentFinancialInstruments2017-09-3007180570ns5:CurrentFinancialInstruments2017-03-3107180570ns5:ShareCapital2017-09-3007180570ns5:ShareCapital2017-03-3107180570ns5:RetainedEarningsAccumulatedLosses2017-09-3007180570ns5:RetainedEarningsAccumulatedLosses2017-03-3107180570ns5:NetGoodwill2017-04-012017-09-3007180570ns5:PlantMachinery2017-04-012017-09-3007180570ns5:NetGoodwill2017-03-3107180570ns5:NetGoodwill2017-09-3007180570ns5:NetGoodwill2017-03-3107180570ns5:PlantMachinery2017-03-3107180570ns5:PlantMachinery2017-09-3007180570ns5:PlantMachinery2017-03-3107180570ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-09-3007180570ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-03-3107180570ns5:Secured2017-09-3007180570ns5:Secured2017-03-31


REGISTERED NUMBER: 07180570 (England and Wales)









SIMPLY ORTHODONTICS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST APRIL 2017 TO 30TH SEPTEMBER 2017





Sheppards
Chartered Accountants
Suite A, 2nd Floor
Kennedy House
31 Stamford Street
Altrincham
Cheshire
WA14 1ES








SIMPLY ORTHODONTICS LTD (REGISTERED NUMBER: 07180570)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST APRIL 2017 TO 30TH SEPTEMBER 2017










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SIMPLY ORTHODONTICS LTD

COMPANY INFORMATION
FOR THE PERIOD 1ST APRIL 2017 TO 30TH SEPTEMBER 2017







DIRECTORS: Dr S Bagheri
Dr P Bagheri





REGISTERED OFFICE: Suite A, 2nd Floor
Kennedy House
31 Stamford Street
Altrincham
Cheshire
WA14 1ES





REGISTERED NUMBER: 07180570 (England and Wales)





ACCOUNTANTS: Sheppards
Chartered Accountants
Suite A, 2nd Floor
Kennedy House
31 Stamford Street
Altrincham
Cheshire
WA14 1ES
Page 1
SIMPLY ORTHODONTICS LTD (REGISTERED NUMBER: 07180570)

BALANCE SHEET
30TH SEPTEMBER 2017

2017 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 435,702 499,464
Tangible assets 5 23,759 27,154
459,461 526,618

CURRENT ASSETS
Stocks 25,355 34,403
Debtors 6 108,020 118,181
Cash at bank and in hand - 311,235
133,375 463,819
CREDITORS
Amounts falling due within one year 7 493,308 671,509
NET CURRENT LIABILITIES (359,933 ) (207,690 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
99,528
318,928

PROVISIONS FOR LIABILITIES 2,284 2,284
NET ASSETS 97,244 316,644

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 97,240 316,640
97,244 316,644

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
SIMPLY ORTHODONTICS LTD (REGISTERED NUMBER: 07180570)

BALANCE SHEET - continued
30TH SEPTEMBER 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 27th July 2018 and were signed on its
behalf by:





Dr S Bagheri - Director


The notes form part of these financial statements

Page 3
SIMPLY ORTHODONTICS LTD (REGISTERED NUMBER: 07180570)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST APRIL 2017 TO 30TH SEPTEMBER 2017


1. STATUTORY INFORMATION

Simply Orthodontics Ltd is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income
Statement, 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

Page 4 continued...
SIMPLY ORTHODONTICS LTD (REGISTERED NUMBER: 07180570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST APRIL 2017 TO 30TH SEPTEMBER 2017


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2017 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2017
and 30th September 2017 637,614
AMORTISATION
At 1st April 2017 138,150
Charge for period 63,762
At 30th September 2017 201,912
NET BOOK VALUE
At 30th September 2017 435,702
At 31st March 2017 499,464

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2017
and 30th September 2017 35,553
DEPRECIATION
At 1st April 2017 8,399
Charge for period 3,395
At 30th September 2017 11,794
NET BOOK VALUE
At 30th September 2017 23,759
At 31st March 2017 27,154

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2017
£    £   
Trade debtors 108,020 117,876
Other debtors - 305
108,020 118,181

Page 5 continued...
SIMPLY ORTHODONTICS LTD (REGISTERED NUMBER: 07180570)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST APRIL 2017 TO 30TH SEPTEMBER 2017


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2017
£    £   
Bank loans and overdrafts 100,093 -
Trade creditors 20,854 19,159
Amounts owed to group undertakings 113,134 -
Taxation and social security 134,091 115,722
Other creditors 125,136 536,628
493,308 671,509

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2017
£    £   
Bank loans 100,000 -

The bank loans are secured by way of a fixed and floating charge and negative pledge over the
company's assets.

The company is also party to a cross guarantee of bank borrowings by group companies.

9. CONTROLLING PARTY

The company is a wholly owned subsidiary of The Orthodontist Ltd, a company incorporated in
England and Wales.

Page 6