Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-3172021-01-01falseNo description of principal activity0truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10537818 2021-01-01 2021-12-31 10537818 2020-01-01 2020-12-31 10537818 2021-12-31 10537818 2020-12-31 10537818 c:Director1 2021-01-01 2021-12-31 10537818 d:PlantMachinery 2021-01-01 2021-12-31 10537818 d:PlantMachinery 2021-12-31 10537818 d:PlantMachinery 2020-12-31 10537818 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10537818 d:Goodwill 2021-01-01 2021-12-31 10537818 d:Goodwill 2021-12-31 10537818 d:Goodwill 2020-12-31 10537818 d:CurrentFinancialInstruments 2021-12-31 10537818 d:CurrentFinancialInstruments 2020-12-31 10537818 d:Non-currentFinancialInstruments 2021-12-31 10537818 d:Non-currentFinancialInstruments 2020-12-31 10537818 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10537818 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 10537818 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10537818 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 10537818 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 10537818 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 10537818 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 10537818 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 10537818 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 10537818 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 10537818 d:ShareCapital 2021-12-31 10537818 d:ShareCapital 2020-12-31 10537818 d:RetainedEarningsAccumulatedLosses 2021-12-31 10537818 d:RetainedEarningsAccumulatedLosses 2020-12-31 10537818 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 10537818 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 10537818 c:FRS102 2021-01-01 2021-12-31 10537818 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 10537818 c:FullAccounts 2021-01-01 2021-12-31 10537818 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10537818 d:WithinOneYear 2021-12-31 10537818 d:WithinOneYear 2020-12-31 10537818 d:BetweenOneFiveYears 2021-12-31 10537818 d:BetweenOneFiveYears 2020-12-31 10537818 d:MoreThanFiveYears 2021-12-31 10537818 d:MoreThanFiveYears 2020-12-31 10537818 2 2021-01-01 2021-12-31 10537818 d:Goodwill d:OwnedIntangibleAssets 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 10537818









PREBEND STREET PRACTICE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2021

 
PREBEND STREET PRACTICE LIMITED
REGISTERED NUMBER: 10537818

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Intangible assets
 4 
788,452
932,211

Tangible assets
 5 
2,150
10,750

  
790,602
942,961

Current assets
  

Debtors: amounts falling due within one year
 6 
558,725
380,912

Cash at bank and in hand
 7 
5,882
30,372

  
564,607
411,284

Creditors: amounts falling due within one year
 8 
(442,582)
(305,698)

Net current assets
  
 
 
122,025
 
 
105,586

Total assets less current liabilities
  
912,627
1,048,547

Creditors: amounts falling due after more than one year
 9 
(912,597)
(1,053,708)

  

Net assets/(liabilities)
  
30
(5,161)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
29
(5,162)

  
30
(5,161)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 September 2022.
Page 1

 
PREBEND STREET PRACTICE LIMITED
REGISTERED NUMBER: 10537818
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021





................................................
Benjamin Jacob Lauffer
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

1.


General information

Prebend Street Practice Limited is a private company limited by shares and is registered in England and Wales.  The address of the registered office is Mountcliff House, 154 Brent Street, London, NW4 2DR.  The principal activity of the company is that of a dental practice.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in pound sterling which is the functional currency of the company and are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

On the basis of their assessment of the company's financial position, the company's director has a reasonable expectation that the company will be able to continue in operational existence for the forseeable future. They continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:



 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the Period in which they are incurred.

Page 3

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the Period was 0 (2020 - 7).

Page 5

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2021
1,471,306



At 31 December 2021

1,471,306



Amortisation


At 1 January 2021
539,095


Charge for the Period on owned assets
143,759



At 31 December 2021

682,854



Net book value



At 31 December 2021
788,452



At 31 December 2020
932,211



Page 6

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2021
43,000



At 31 December 2021

43,000



Depreciation


At 1 January 2021
32,250


Charge for the Period on owned assets
8,600



At 31 December 2021

40,850



Net book value



At 31 December 2021
2,150



At 31 December 2020
10,750


6.


Debtors

2021
2020
£
£


Trade debtors
15,216
15,312

Other debtors
402,506
285,194

Prepayments and accrued income
10,200
13,800

Tax recoverable
130,803
66,606

558,725
380,912



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
5,882
30,372

5,882
30,372


Page 7

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
141,110
136,468

Corporation tax
259,316
135,050

Other taxation and social security
2,321
2,398

Other creditors
-
4,409

Accruals and deferred income
39,835
27,373

442,582
305,698



9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
912,597
1,053,708

912,597
1,053,708


Page 8

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

10.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
141,110
136,468


141,110
136,468

Amounts falling due 1-2 years

Bank loans
147,730
141,110


147,730
141,110

Amounts falling due 2-5 years

Bank loans
474,132
464,195


474,132
464,195

Amounts falling due after more than 5 years

Bank loans
290,735
448,403

290,735
448,403

1,053,707
1,190,176



11.


Financial instruments

2021
2020
£
£

Financial assets


Financial assets measured at fair value through profit or loss
5,882
30,372




Financial assets measured at fair value through profit or loss comprise cash at bank

Page 9

 
PREBEND STREET PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021

12.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
50,100
50,100

Later than 1 year and not later than 5 years
183,724
190,624

Later than 5 years
54,000
97,200

287,824
337,924

 
Page 10