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Registration number: 09989286

Crescent Dental Ltd

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Crescent Dental Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Crescent Dental Ltd

Company Information

Director

Ms J Berndt

Registered office

24
Uplands Crescent
Uplands
Swansea
SA2 0PB
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

Crescent Dental Ltd

(Registration number: 09989286)
Balance Sheet as at 31 March 2022

Note

31 March
2022
£

31 March
2021
£

Fixed assets

 

Tangible assets

4

16,417

9,726

Current assets

 

Stocks

5

14,608

8,898

Debtors

6

234,536

79,825

Cash at bank and in hand

 

187,486

400,283

 

436,630

489,006

Creditors: Amounts falling due within one year

7

(118,551)

(172,800)

Net current assets

 

318,079

316,206

Net assets

 

334,496

325,932

Capital and reserves

 

Called up share capital

8

2

2

Profit and loss account

334,494

325,930

Shareholders' funds

 

334,496

325,932

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her 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.

Approved and authorised by the director on 27 June 2022
 

 

Crescent Dental Ltd

(Registration number: 09989286)
Balance Sheet as at 31 March 2022

.........................................
Ms J Berndt
Director

 

Crescent Dental Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24
Uplands Crescent
Uplands
Swansea
SA2 0PB
Wales

These financial statements were authorised for issue by the director on 27 June 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Crescent Dental Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022

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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Plant and machinery

25% Straight Line

Fixtures and fittings

20% Straight Line

Office equipment

25% Straight Line

Tools

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Crescent Dental Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2021 - 15).

 

Crescent Dental Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2021

31,694

4,544

16,893

53,131

Additions

6,784

-

8,562

15,346

Disposals

(4,806)

(2,751)

(469)

(8,026)

At 31 March 2022

33,672

1,793

24,986

60,451

Depreciation

At 1 April 2021

25,136

3,885

14,384

43,405

Charge for the year

4,590

257

1,805

6,652

Eliminated on disposal

(3,479)

(2,349)

(195)

(6,023)

At 31 March 2022

26,247

1,793

15,994

44,034

Carrying amount

At 31 March 2022

7,425

-

8,992

16,417

At 31 March 2021

6,558

659

2,509

9,726

5

Stocks

31 March
2022
£

31 March
2021
£

Other inventories

14,608

8,898

6

Debtors

31 March
2022
£

31 March
2021
£

Trade debtors

67,781

79,825

Prepayments

3,526

-

Other debtors

26,972

-

Rostok Swansea Intercompany

136,257

-

234,536

79,825

 

Crescent Dental Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2022

7

Creditors

Creditors: amounts falling due within one year

31 March
2022
£

31 March
2021
£

Due within one year

Trade creditors

44,602

34,452

Taxation and social security

6,602

3,822

Accruals and deferred income

9,571

30,209

Other creditors

57,776

104,317

118,551

172,800

8

Share capital

Allotted, called up and fully paid shares

 

31 March
2022

31 March
2021

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

9

Dividends

   

31 March
2022

 

31 March
2021

   

£

 

£

Interim dividend of £250,000 (2021 - £243,000) per ordinary share

 

250,000

 

243,000