Cathedral Dental Practice Limited 07889110 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is Dentistry Digita Accounts Production Advanced 6.30.9574.0 true 07889110 2021-04-01 2022-03-31 07889110 2022-03-31 07889110 bus:OrdinaryShareClass1 bus:OtherShareType 2022-03-31 07889110 core:CurrentFinancialInstruments 2022-03-31 07889110 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07889110 core:Non-currentFinancialInstruments 2022-03-31 07889110 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 07889110 core:Goodwill 2022-03-31 07889110 core:OtherPropertyPlantEquipment 2022-03-31 07889110 bus:SmallEntities 2021-04-01 2022-03-31 07889110 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 07889110 bus:FullAccounts 2021-04-01 2022-03-31 07889110 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 07889110 bus:RegisteredOffice 2021-04-01 2022-03-31 07889110 bus:CompanySecretaryDirector2 2021-04-01 2022-03-31 07889110 bus:Director1 2021-04-01 2022-03-31 07889110 bus:OrdinaryShareClass1 bus:OtherShareType 2021-04-01 2022-03-31 07889110 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07889110 core:Goodwill 2021-04-01 2022-03-31 07889110 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 07889110 core:PlantMachinery 2021-04-01 2022-03-31 07889110 countries:AllCountries 2021-04-01 2022-03-31 07889110 2021-03-31 07889110 core:Goodwill 2021-03-31 07889110 core:OtherPropertyPlantEquipment 2021-03-31 07889110 2020-04-01 2021-03-31 07889110 2021-03-31 07889110 bus:OrdinaryShareClass1 bus:OtherShareType 2021-03-31 07889110 core:CurrentFinancialInstruments 2021-03-31 07889110 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 07889110 core:Non-currentFinancialInstruments 2021-03-31 07889110 core:Non-currentFinancialInstruments core:AfterOneYear 2021-03-31 07889110 core:Goodwill 2021-03-31 07889110 core:OtherPropertyPlantEquipment 2021-03-31 07889110 bus:OrdinaryShareClass1 bus:OtherShareType 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07889110

Cathedral Dental Practice Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Cathedral Dental Practice Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Cathedral Dental Practice Limited

Company Information

Directors

Dr Inderjit Singh Randhawa

Mrs Manjote K Randhawa

Company secretary

Mrs Manjote K Randhawa

Registered office

15 Angel Hill
Bury St Edmunds
Suffolk
IP33 1UZ

Accountants

Gollings & Co Chartered Accountants
Haddon Cottage
Victoria Road
Weybridge
Surrey
KT13 9QH

 

Cathedral Dental Practice Limited

(Registration number: 07889110)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

-

29,700

Tangible assets

5

186,577

192,401

 

186,577

222,101

Current assets

 

Stocks

6

30,998

35,184

Debtors

7

64,371

55,328

Cash at bank and in hand

 

98,730

168,498

 

194,099

259,010

Creditors: Amounts falling due within one year

8

(112,579)

(191,505)

Net current assets

 

81,520

67,505

Total assets less current liabilities

 

268,097

289,606

Creditors: Amounts falling due after more than one year

8

(245,892)

(283,752)

Net assets

 

22,205

5,854

Capital and reserves

 

Called up share capital

9

1

1

Profit and loss account

22,204

5,853

Shareholders' funds

 

22,205

5,854

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.

Directors' 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 directors acknowledge their 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 Board on 6 September 2022 and signed on its behalf by:
 

 

Cathedral Dental Practice Limited

(Registration number: 07889110)
Balance Sheet as at 31 March 2022

.........................................

Dr Inderjit Singh Randhawa
Director

 

Cathedral Dental Practice Limited

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 & Wales.

The address of its registered office is:
15 Angel Hill
Bury St Edmunds
Suffolk
IP33 1UZ

These financial statements were authorised for issue by the Board on 6 September 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these finnacial statements are rounded to the nearest £.

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 by reference to the services completed to date. Work completed by the year end but not invoiced has been accrued for and where work has been invoiced but not completed is deferred.

Government grants

The grants received in 2022 related to goverment grants for the Coronavirus Job Retention Scheme. They were included in ‘other income’ when they became receivable.

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.

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.

 

Cathedral Dental Practice Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Assets held under finance leases are depreciated in the same way as owned assets

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 & Equipment

15% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 Years

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.

 

Cathedral Dental Practice Limited

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

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.

 

Cathedral Dental Practice Limited

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

3

Staff numbers

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

 

Cathedral Dental Practice Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

396,000

396,000

At 31 March 2022

396,000

396,000

Amortisation

At 1 April 2021

366,300

366,300

Amortisation charge

29,700

29,700

At 31 March 2022

396,000

396,000

Carrying amount

At 31 March 2022

-

-

At 31 March 2021

29,700

29,700

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2021

371,253

371,253

Additions

23,036

23,036

At 31 March 2022

394,289

394,289

Depreciation

At 1 April 2021

178,852

178,852

Charge for the year

28,860

28,860

At 31 March 2022

207,712

207,712

Carrying amount

At 31 March 2022

186,577

186,577

At 31 March 2021

192,401

192,401

6

Stocks

2022
£

2021
£

Other inventories

30,998

35,184

 

Cathedral Dental Practice Limited

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

7

Debtors

2022
£

2021
£

Trade debtors

61,062

47,793

Prepayments

3,309

7,535

64,371

55,328

 

Cathedral Dental Practice Limited

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

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

76,841

153,316

Taxation and social security

27,039

11,974

Other creditors

8,699

26,215

112,579

191,505

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

245,892

283,752

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

190,202

213,134

HP and finance lease liabilities

55,690

70,618

245,892

283,752

9

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £0.01 (2021 - £1) each

100

1.00

1

1

         

10

Dividends

   

2022

 

2021

   

£

 

£

Interim dividend of £1,000 (2021 - £30,000) per ordinary share

 

100,000

 

30,000

         
 

Cathedral Dental Practice Limited

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

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

17,664

8,784

Contributions paid to money purchase schemes

5,978

-

23,642

8,784

Other transactions with directors

Included in other creditors an amount of £2,920 ( 2021 £10,320) is owed by the company to Dr Inderjit Singh Randhawa. This loan is unsecured, interest free and repayable on demand.

The company has paid rent of £30,000 ( 2021 £30,000) to Dr Inderjit Singh Randhawa for use of freehold property by the company which is owned by him.