Registered number: 08310017
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Anglesea Terrace Orthodontic Practice Ltd
Financial statements
Information for filing with the registrar
31 July 2023
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Anglesea Terrace Orthodontic Practice Ltd
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Balance sheet
At 31 July 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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1
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Anglesea Terrace Orthodontic Practice Ltd
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Balance sheet (continued)
At 31 July 2023
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 April 2024.
Registered number: 08310017
The notes on pages 3 to 5 form part of these financial statements.
2
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Anglesea Terrace Orthodontic Practice Ltd
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Notes to the financial statements
Year ended 31 July 2023
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St James' Boulevard, Newcastle Upon Tyne, NE1 4JE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life.
Other intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
3
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Anglesea Terrace Orthodontic Practice Ltd
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Notes to the financial statements
Year ended 31 July 2023
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Short-term leasehold property
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
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Long-term leasehold property
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4
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Anglesea Terrace Orthodontic Practice Ltd
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Notes to the financial statements
Year ended 31 July 2023
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Amounts owed by group undertakings
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Creditors: amounts falling due within one year
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Related party transactions
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During the year the company operated an intercompany account with Rupak Investment Limited to
record amounts due to and from the company. At 31 July 2023 Anglesea Terrace Orthodontic Practice Limited was owed £90,644 (2022: £99,000).
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5
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