Fairlight Dental Practice Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 07461353

		2022		2021
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	3		-		66,665
Tangible Assets	4		59,862		66,900

			59,862		133,565
CURRENT ASSETS
Stocks	5	8,592		11,437
Debtors	6	7,017		19,159
Cash at bank and in hand		105,887		82,784

		121,496		113,380
Creditors: Amounts Falling Due Within One Year	7	(34,606 )		(33,028 )

NET CURRENT ASSETS (LIABILITIES)			86,890		80,352

TOTAL ASSETS LESS CURRENT LIABILITIES			146,752		213,917

Creditors: Amounts Falling Due After More Than One Year	8		(60,250 )		(67,862 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(11,850 )		(12,192 )

NET ASSETS			74,652		133,863

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			74,552		133,763

SHAREHOLDERS' FUNDS			74,652		133,863

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Fairlight Dental Practice Limited

Balance Sheet (continued)

As at 31 December 2022

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Miss Sian Jones

Director

20/09/2023

The notes on pages 3 to 6 form part of these financial statements.

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006

1.2. Turnover

Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing balance
Computer Equipment	33% Straight line

1.5. Leases

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

1.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.7. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

1.8. Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

1.9. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

2. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2021: 10)

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Fairlight Dental Practice Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2022

3. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2022	500,000

As at 31 December 2022	500,000

Amortisation
As at 1 January 2022	433,335
Provided during the period	66,665

As at 31 December 2022	500,000

Net Book Value
As at 31 December 2022	-

As at 1 January 2022	66,665

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2022	124,278	6,543	130,821
Additions	17,945	-	17,945
Disposals	(20,000 )	-	(20,000 )

As at 31 December 2022	122,223	6,543	128,766

Depreciation
As at 1 January 2022	59,841	4,080	63,921
Provided during the period	17,144	1,511	18,655
Disposals	(13,672 )	-	(13,672 )

As at 31 December 2022	63,313	5,591	68,904

Net Book Value
As at 31 December 2022	58,910	952	59,862

As at 1 January 2022	64,437	2,463	66,900

5. Stocks

	2022	2021
	£	£
Stock	8,592	11,437

	8,592	11,437

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Fairlight Dental Practice Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2022

6. Debtors

	2022	2021
	£	£
Due within one year
Other taxes and social security	6,096	9,592
Director's loan account	921	9,567

	7,017	19,159

7. Creditors: Amounts Falling Due Within One Year

	2022	2021
	£	£
Net obligations under finance leases	9,622	2,247
Trade creditors	4,833	14,080
Corporation tax	1,531	-
Other creditors	4,760	2,216
Other Loans	10,648	10,648
Pension	619	270
Accrued expenses	2,593	3,567

	34,606	33,028

8. Creditors: Amounts Falling Due After More Than One Year

	2022	2021
	£	£
Net obligations under finance leases	36,078	34,041
Other loans 1-2 years	24,172	33,821

	60,250	67,862

9. Obligations Under Finance Leases

	2022	2021
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	9,622	2,247
Later than one year and not later than five years	36,078	34,041

	45,700	36,288

	45,700	36,288

10. Share Capital

	2022	2021
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1 each	100	100

11. Related Party Transactions

As at the balance sheet date, the company owed the director £921 (2021 : director owed the company £9,567).

During the year the company voted dividends of £103,200 to the director (2021 : £83,000).

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Fairlight Dental Practice Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2022

12. Ultimate Controlling Party

The company's ultimate controlling party is S A Jones by virtue of her ownership of 100% of the issued share capital in the company.

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