REGISTERED NUMBER: SC311565 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Whitecart Dental Care Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C T McClure

Mrs C A McClure

SECRETARY:

Mrs C A McClure

REGISTERED OFFICE:

15 Clarkston Road

Glasgow

G44 4EF

REGISTERED NUMBER:

SC311565 (Scotland)

ACCOUNTANTS:

Gillespie & Anderson

Chartered Accountants

147 Bath Street

Glasgow

G2 4SN

FIXED ASSETS

Intangible assets

4

22,083

32,683

Tangible assets

5

35,289

4,629

57,372

37,312

CURRENT ASSETS

Stocks

6

38,195

34,616

Debtors

7

61,875

113,196

Cash at bank and in hand

153,132

76,845

253,202

224,657

CREDITORS

Amounts falling due within one year

8

155,091

171,487

NET CURRENT ASSETS

98,111

53,170

TOTAL ASSETS LESS CURRENT LIABILITIES

155,483

90,482

CREDITORS

Amounts falling due after more than one year

9

(22,435

)

(32,387

)

PROVISIONS FOR LIABILITIES

(5,709

)

-

NET ASSETS

127,339

58,095

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

127,239

57,995

127,339

58,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2023 and were signed on its behalf by:

C T McClure - Director

1.	STATUTORY INFORMATION

Whitecart Dental Care Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The financial statements are prepared on the going concern basis of accounting as, in the opinion of the directors, there are no matters of material uncertainty which cast doubt on the company's ability to continue.The management have continued operations where possible throughout this period with additional support being accessed at local and national levels. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The Directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Directors' estimates, assumptions and judgements that have a significant risk of causing material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Turnover

Turnover represents net sales of goods and services, excluding value added tax, and recognised when the company becomes entitled to the income. Income is recognised when the company becomes entitled to the income, it can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 20% on cost

If any impairment exists, the carrying amount of the asset shall be reduced to its estimated recoverable amount.

Stocks

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 items.

Financial instruments

The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

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

Employment benefits

The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

Provisions for liabilities

A provision for liabilities is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated readily. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

106,000

AMORTISATION

At 1 April 2022

73,317

Charge for year

10,600

At 31 March 2023

83,917

NET BOOK VALUE

At 31 March 2023

22,083

At 31 March 2022

32,683

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

102,708

Additions

43,696

At 31 March 2023

146,404

DEPRECIATION

At 1 April 2022

98,079

Charge for year

13,036

At 31 March 2023

111,115

NET BOOK VALUE

At 31 March 2023

35,289

At 31 March 2022

4,629

6.

STOCKS

2023

2022

£

£

Stocks

13,000

14,500

Work-in-progress

25,195

20,116

38,195

34,616

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

39,767

69,140

Other debtors

22,108

44,056

61,875

113,196

Within other debtors included balance due from the directors. The balance will be repayable within the nine months after the year end.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts (see note 10)

9,952

9,707

Trade creditors

9,560

14,965

Taxation and social security

67,434

58,818

Other creditors

68,145

87,997

155,091

171,487

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans (see note 10)

22,435

32,387

10.

LOANS

An analysis of the maturity of loans is given below:

2023

2022

£

£

Amounts falling due within one year or on demand:

Bank loans

9,952

9,707

Amounts falling due between one and two years:

Bank loans - 1-2 years

22,435

32,387

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

15,982

-

Between one and five years

45,284

-

61,266

-

12.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

32,387

42,094

On 8 May 2018, the company granted a floating charge to The Royal Bank of Scotland plc over all of its property, undertaking, assets and rights owned now or in the future.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

C T McClure

Balance outstanding at start of year

-

5,746

Amounts advanced

132,889

98,357

Amounts repaid

(123,356

)

(104,103

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

9,533

-

Mrs C A McClure

Balance outstanding at start of year

(135

)

(5,990

)

Amounts advanced

131,640

102,498

Amounts repaid

(123,356

)

(96,643

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,149

(135

)

14.	RELATED PARTY DISCLOSURES

The company has directors and shareholders in common with Whitecart O. C. D. Limited. The company had ceased on 31 March 2023.