COMPANY REGISTRATION NUMBER:
13062850
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2022
FIXED ASSETS
CURRENT ASSETS
Debtors |
6 |
24,741 |
|
Cash at bank and in hand |
120,094 |
|
|
---------- |
|
|
144,835 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
42,305 |
|
|
---------- |
|
NET CURRENT ASSETS |
|
102,530 |
|
|
---------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
104,121 |
|
|
---------- |
NET ASSETS |
|
104,121 |
|
|
---------- |
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
100 |
Profit and loss account |
|
104,021 |
|
|
---------- |
SHAREHOLDERS FUNDS |
|
104,121 |
|
|
---------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
5 September 2022
, and are signed on behalf of the board by:
Dr E Ravindran |
Dr C Reynolds |
Director |
Director |
|
|
Company registration number:
13062850
NOTES TO THE FINANCIAL STATEMENTS |
|
PERIOD FROM 1 FEBRUARY 2021 TO 31 MARCH 2022
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Wynbury Road, Gateshead, NE9 6TS, England.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
3.
ACCOUNTING POLICIES
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
Revenue recognition
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year-end date is recognised by reference to the stage of completion.
(c)
Current & deffered tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(d)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
20% reducing balance |
|
|
|
|
(f)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(g)
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to
2
.
5.
TANGIBLE ASSETS
|
Equipment |
|
£ |
Cost |
|
At 1 February 2021 |
– |
Additions |
2,164 |
|
------- |
At 31 March 2022 |
2,164 |
|
------- |
Depreciation |
|
At 1 February 2021 |
– |
Charge for the period |
573 |
|
------- |
At 31 March 2022 |
573 |
|
------- |
Carrying amount |
|
At 31 March 2022 |
1,591 |
|
------- |
|
|
6.
DEBTORS
|
31 Mar 22 |
|
£ |
Trade debtors |
24,741 |
|
-------- |
|
|
7.
CREDITORS:
amounts falling due within one year
|
31 Mar 22 |
|
£ |
Accruals and deferred income |
900 |
Corporation tax |
40,838 |
Directors Current Account |
567 |
|
-------- |
|
42,305 |
|
-------- |
|
|
8.
COVID-19
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
9.
RELATED PARTY TRANSACTIONS
During the period, the directors made available a loan to the company. This loan was interest free and repayable on demand. At the period end, the balance on the loan was
£ 568
.