Registered number
06898879
Verwood Dental Care Limited
Unaudited Filleted Accounts
31 March 2022
Verwood Dental Care Limited
Registered number: 06898879
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 66,995 74,439
Tangible assets 4 741,187 757,961
Investments 5 10,996 10,996
819,178 843,396
Current assets
Debtors 6 18,455 25,991
Cash at bank and in hand 268,563 32,221
287,018 58,212
Creditors: amounts falling due within one year 7 (117,893) (128,172)
Net current assets/(liabilities) 169,125 (69,960)
Total assets less current liabilities 988,303 773,436
Provisions for liabilities (3,901) (5,239)
Net assets 984,402 768,197
Capital and reserves
Called up share capital 100 100
Profit and loss account 984,302 768,097
Shareholder's funds 984,402 768,197
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr L Tangsiri
Director
Approved by the board on 13 June 2022
Verwood Dental Care Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold additions over 10 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 10 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2021 249,529
At 31 March 2022 249,529
Amortisation
At 1 April 2021 175,090
Provided during the year 7,444
At 31 March 2022 182,534
Net book value
At 31 March 2022 66,995
At 31 March 2021 74,439
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2021 796,870 114,961 911,831
Additions - 3,681 3,681
At 31 March 2022 796,870 118,642 915,512
Depreciation
At 1 April 2021 62,444 91,426 153,870
Charge for the year 15,012 5,443 20,455
At 31 March 2022 77,456 96,869 174,325
Net book value
At 31 March 2022 719,414 21,773 741,187
At 31 March 2021 734,426 23,535 757,961
5 Investments
Other
investments
£
Cost
At 1 April 2021 10,996
At 31 March 2022 10,996
6 Debtors 2022 2021
£ £
Trade debtors 13,156 24,786
Other debtors 5,299 1,205
18,455 25,991
7 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 3,024 51,058
Trade creditors 31,646 30,765
Taxation and social security costs 67,069 45,115
Other creditors 16,154 1,234
117,893 128,172
8 Related party transactions
There was a loan of £50,000 from Air-Site Limited a company registered in England and owned by the husband of the sole director and shareholder. The loan is interest free and was repaid during the year.
9 Controlling party
The ultimate controllling party is Dr L Tangsiri
10 Other information
Verwood Dental Care Limited is a private company limited by shares and incorporated in England. Its registered office is:
31b The Avenue
Poole
Dorset
BH13 6LJ
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