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REGISTRAR OF COMPANIES

Registration number: 06040797

Eden Dental Practice Limited

Unaudited Financial Statements

31 March 2022

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Eden Dental Practice Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Eden Dental Practice Limited
for the Year Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eden Dental Practice Limited for the year ended 31 March 2022 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Eden Dental Practice Limited, as a body, in accordance with the terms of our engagement letter dated 2 September 2022. Our work has been undertaken solely to prepare for your approval the accounts of Eden Dental Practice Limited and state those matters that we have agreed to state to the Board of Directors of Eden Dental Practice Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eden Dental Practice Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Eden Dental Practice Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Eden Dental Practice Limited. You consider that Eden Dental Practice Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Eden Dental Practice Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

4 August 2022

 

Eden Dental Practice Limited

(Registration number: 06040797)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

58,458

77,944

Tangible assets

5

2,445,205

1,710,540

 

2,503,663

1,788,484

Current assets

 

Stocks

1,600

3,500

Debtors

6

102,151

17,133

Cash at bank and in hand

 

346,226

138,209

 

449,977

158,842

Creditors: Amounts falling due within one year

7

(249,330)

(1,045,221)

Net current assets/(liabilities)

 

200,647

(886,379)

Total assets less current liabilities

 

2,704,310

902,105

Creditors: Amounts falling due after more than one year

7

(1,701,562)

(43,631)

Provisions for liabilities

(49,660)

(46,032)

Net assets

 

953,088

812,442

Capital and reserves

 

Allotted, called up and fully paid share capital

11

11

Profit and loss account

953,077

812,431

Total equity

 

953,088

812,442

 

Eden Dental Practice Limited

(Registration number: 06040797)
Balance Sheet as at 31 March 2022 (continued)

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.

Approved and authorised by the Board on 4 August 2022
 

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

E Mather

Director

 

Eden Dental Practice Limited

Notes to the 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:
1 Peacock Road
Durranhill
CARLISLE
CA1 3UD

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.


Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

Tax

The tax expense for the period comprises current and deferred 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.

 

Eden Dental Practice Limited

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Land and buildings

2% straight line basis

Plant and equipment

15% reducing balance basis

Furniture, fittings and office equipment

33% straight line & 15% reducing balance basis

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 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

10 years straight line basis

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 the sale of goods 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.

 

Eden Dental Practice Limited

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

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 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. 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.

 

Eden Dental Practice Limited

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

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 13 (2021 - 11).

 

Eden Dental Practice Limited

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

324,772

324,772

At 31 March 2022

324,772

324,772

Amortisation

At 1 April 2021

246,828

246,828

Amortisation charge

19,486

19,486

At 31 March 2022

266,314

266,314

Carrying amount

At 31 March 2022

58,458

58,458

At 31 March 2021

77,944

77,944

5

Tangible assets

Land and buildings
£

Plant and equipment
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 April 2021

1,503,132

353,621

8,027

1,864,780

Additions

517,367

95,036

228,959

841,362

At 31 March 2022

2,020,499

448,657

236,986

2,706,142

Depreciation

At 1 April 2021

30,866

115,917

7,457

154,240

Charge for the year

34,275

45,433

26,989

106,697

At 31 March 2022

65,141

161,350

34,446

260,937

Carrying amount

At 31 March 2022

1,955,358

287,307

202,540

2,445,205

At 31 March 2021

1,472,266

237,704

570

1,710,540

 

Eden Dental Practice Limited

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

6

Debtors

2022
£

2021
£

Trade debtors

3,065

4,373

Other debtors

99,086

12,760

102,151

17,133

7

Creditors

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

218,564

865,230

Trade creditors

 

18,669

171,367

Taxation and social security

 

4,667

2,437

Other creditors

 

7,430

6,187

 

249,330

1,045,221

Due after one year

 

Loans and borrowings

8

1,701,562

42,500

Other creditors

 

-

1,131

 

1,701,562

43,631

 

Eden Dental Practice Limited

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank borrowings

142,106

8,415

Bank overdrafts

-

849,083

Finance lease liabilities

39,152

-

Other borrowings

37,306

7,732

218,564

865,230

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2022
£

2021
£

Bank borrowings

142,106

8,415

Bank overdrafts

-

849,083

Finance lease liabilities

39,152

-

181,258

857,498

 

Eden Dental Practice Limited

Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)

Bank borrowings are secured by fixed and floating charges over the company's assets.

 

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

1,508,278

42,500

Finance lease liabilities

193,284

-

1,701,562

42,500

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2022
£

2021
£

Bank borrowings

1,508,278

42,500

Finance lease liabilities

193,284

-

1,701,562

42,500

Bank borrowings are secured by fixed and floating charges over the company's assets.