REGISTERED NUMBER: 07038945 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2016

for

Absolute Orthodontics Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Wenger

Mrs B Wenger

SECRETARY:

Mrs B Wenger

REGISTERED OFFICE:

1 The Cedars

Truro

Cornwall

TR1 2FD

REGISTERED NUMBER:

07038945 (England and Wales)

ACCOUNTANTS:

Briants Chartered Accountants

Maritime House

Discovery Quay

Falmouth

Cornwall

TR11 3XA

FIXED ASSETS

Intangible assets

2

49,000

52,500

Tangible assets

3

2,073

21,240

51,073

73,740

CURRENT ASSETS

Debtors

4

505

515

Cash at bank

60,888

78,657

61,393

79,172

CREDITORS

Amounts falling due within one year

5

37,626

44,915

NET CURRENT ASSETS

23,767

34,257

TOTAL ASSETS LESS CURRENT LIABILITIES

74,840

107,997

CREDITORS

Amounts falling due after more than one year

6

-

(14,454

)

PROVISIONS FOR LIABILITIES

9

(434

)

(1,290

)

NET ASSETS

74,406

92,253

CAPITAL AND RESERVES

Called up share capital

10

2

2

Profit and loss account

11

74,404

92,251

SHAREHOLDERS' FUNDS

74,406

92,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3 July 2017 and were signed on its behalf by:

N Wenger - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the net invoices sales of services during the period.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

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 the profit and loss account in the period to which they

relate.

2.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2015

and 31 October 2016

70,000

AMORTISATION

At 1 November 2015

17,500

Charge for year

3,500

At 31 October 2016

21,000

NET BOOK VALUE

At 31 October 2016

49,000

At 31 October 2015

52,500

3.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 November 2015

2,427

35,376

3,772

41,575

Additions

-

-

584

584

Disposals

-

(35,376

)

-

(35,376

)

At 31 October 2016

2,427

-

4,356

6,783

DEPRECIATION

At 1 November 2015

511

17,006

2,818

20,335

Charge for year

383

-

998

1,381

Eliminated on disposal

-

(17,006

)

-

(17,006

)

At 31 October 2016

894

-

3,816

4,710

NET BOOK VALUE

At 31 October 2016

1,533

-

540

2,073

At 31 October 2015

1,916

18,370

954

21,240

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Prepayments and accrued income

505

515

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Hire purchase contracts

-

4,941

Trade creditors

3,685

2,894

Tax

12,837

12,607

Social security and other taxes

1,255

903

Net wages

2,064

1,484

NatWest credit card

443

1,135

Directors' current accounts

251

1,580

Accruals and deferred income

17,091

19,371

37,626

44,915

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

-

14,454

7.	PREFERENCE SHARES

Details of preference shares are as follows:

8.	OPERATING LEASE COMMITMENTS

9.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

Accelerated capital allowances

(856

)

-

Deferred tax

1,290

1,290

434

1,290

Deferred

tax

£

Balance at 1 November 2015

1,290

Provided during year

(856

)

Balance at 31 October 2016

434

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Profit

and loss

account

£

At 1 November 2015

92,251

Profit for the year

44,153

Dividends

(62,000

)

At 31 October 2016

74,404

12.	RELATED PARTY DISCLOSURES

Mr N and Mrs B Wenger

Directors

Mr and Mrs B Wenger received dividends totalling £62,000 during the year.

2016

2015

£

£

Amount due to related party at the balance sheet date

251

1,580

13.	CONTROLLING PARTY

The company is controlled by the directors.