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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
13322592
2022-04-01
2023-03-31
13322592
2023-03-31
13322592
2022-03-31
13322592
core:PlantMachinery
2022-04-01
2023-03-31
13322592
core:FurnitureFittings
2022-04-01
2023-03-31
13322592
core:MotorVehicles
2022-04-01
2023-03-31
13322592
bus:Director1
2022-04-01
2023-03-31
13322592
bus:Director2
2022-04-01
2023-03-31
13322592
core:WithinOneYear
2023-03-31
13322592
core:PlantMachinery
2022-03-31
13322592
core:FurnitureFittings
2022-03-31
13322592
core:PlantMachinery
2023-03-31
13322592
core:FurnitureFittings
2023-03-31
13322592
core:MotorVehicles
2023-03-31
13322592
core:AfterOneYear
2023-03-31
13322592
core:ShareCapital
2023-03-31
13322592
core:RetainedEarningsAccumulatedLosses
2023-03-31
13322592
bus:SmallEntities
2022-04-01
2023-03-31
13322592
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
13322592
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
13322592
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
13322592
bus:FullAccounts
2022-04-01
2023-03-31
13322592
core:OfficeEquipment
2022-04-01
2023-03-31
13322592
core:OfficeEquipment
2022-03-31
13322592
core:OfficeEquipment
2023-03-31
COMPANY REGISTRATION NUMBER:
13322592
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2023
FIXED ASSETS
CURRENT ASSETS
Stocks |
29,761 |
|
Debtors |
6 |
8,043 |
|
Cash at bank and in hand |
235,934 |
|
|
---------- |
|
|
273,738 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
83,935 |
|
|
---------- |
|
NET CURRENT ASSETS |
|
189,803 |
|
|
---------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
267,364 |
|
|
|
|
CREDITORS: amounts falling due after more than one year |
8 |
|
5,183 |
|
|
---------- |
NET ASSETS |
|
262,181 |
|
|
---------- |
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
100 |
Profit and loss account |
|
262,081 |
|
|
---------- |
SHAREHOLDERS FUNDS |
|
262,181 |
|
|
---------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2023
These financial statements were approved by the
board of directors
and authorised for issue on
12 September 2023
, and are signed on behalf of the board by:
Dr M Vasireddy |
Dr S Vasireddy |
Director |
Director |
|
|
Company registration number:
13322592
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2023
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fulford Lodge, 1 Heslington Lane, Fulford, York, YO10 4HW.
2.
STATEMENT OF COMPLIANCE
these financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
ACCOUNTING POLICIES
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
Revenue recognition
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year-end date is recognised by reference to the stage of completion.
(c)
Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
(d)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
(e)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
25% reducing balance |
|
Fixtures & Fittings |
- |
25% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
Office Equipment |
- |
33% straight line |
|
|
|
|
(f)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(g)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(h)
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets,financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
12
.
5.
TANGIBLE ASSETS
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
At 1 April 2022 |
9,274 |
1,136 |
– |
2,921 |
13,331 |
Additions |
199 |
– |
94,086 |
– |
94,285 |
|
------- |
------- |
-------- |
------- |
---------- |
At 31 March 2023 |
9,473 |
1,136 |
94,086 |
2,921 |
107,616 |
|
------- |
------- |
-------- |
------- |
---------- |
Depreciation |
|
|
|
|
|
At 1 April 2022 |
2,318 |
262 |
– |
973 |
3,553 |
Charge for the year |
1,789 |
218 |
23,522 |
973 |
26,502 |
|
------- |
------- |
-------- |
------- |
---------- |
At 31 March 2023 |
4,107 |
480 |
23,522 |
1,946 |
30,055 |
|
------- |
------- |
-------- |
------- |
---------- |
Carrying amount |
|
|
|
|
|
At 31 March 2023 |
5,366 |
656 |
70,564 |
975 |
77,561 |
|
------- |
------- |
-------- |
------- |
---------- |
|
|
|
|
|
|
6.
DEBTORS
|
2023 |
|
£ |
Corporation tax repayable |
5,697 |
Other debtors |
2,346 |
|
------- |
|
8,043 |
|
------- |
|
|
7.
CREDITORS:
amounts falling due within one year
|
2023 |
|
£ |
Trade creditors |
45,750 |
Amounts owed to undertakings in which the company has a participating interest |
32,461 |
Accruals and deferred income |
2,700 |
Directors Current Account |
3,024 |
|
-------- |
|
83,935 |
|
-------- |
|
|
8.
CREDITORS:
amounts falling due after more than one year
|
2023 |
|
£ |
Other creditors |
5,183 |
|
------- |
|
|
9.
COVID - 19
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
10.
RELATED PARTY TRANSACTIONS
During the year the directors loaned the Company £
3,024
(2022: £587). This loan was interest free and repayable upon demand.