Company registration number NI623053 (Northern Ireland)
SANDOWN DENTAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
SANDOWN DENTAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SANDOWN DENTAL LIMITED
BALANCE SHEET
AS AT
5 APRIL 2023
05 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
266,312
304,357
Tangible assets
4
185,018
197,173
451,330
501,530
Current assets
Stocks
10,000
1,500
Debtors
5
10,926
9,119
Cash at bank and in hand
467,478
449,974
488,404
460,593
Creditors: amounts falling due within one year
6
(275,618)
(318,204)
Net current assets
212,786
142,389
Net assets
664,116
643,919
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
664,114
643,917
Total equity
664,116
643,919
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 October 2023 and are signed on its behalf by:
Dr Patrick Rea
Director
Company registration number NI623053 (Northern Ireland)
SANDOWN DENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
- 2 -
1
Accounting policies
Company information
Sandown Dental Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 33-35 Sandown Road, Belfast, BT5 6GT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
1.3
Intangible fixed assets - goodwill
Goodwill is the difference between the fair value of the consideration given on the acquisition of a business and the aggregate fair value of the separate net assets acquired. Goodwill is being written off over 10 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
0%
Plant and machinery
20% reducing balance
Website
0%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
SANDOWN DENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
15
14
SANDOWN DENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 6 April 2022 and 5 April 2023
380,447
Amortisation and impairment
At 6 April 2022
76,090
Amortisation charged for the year
38,045
At 5 April 2023
114,135
Carrying amount
At 5 April 2023
266,312
At 5 April 2022
304,357
4
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Website
Total
£
£
£
£
Cost
At 6 April 2022
7,567
478,325
4,115
490,007
Additions
31,179
31,179
At 5 April 2023
7,567
509,504
4,115
521,186
Depreciation and impairment
At 6 April 2022
292,834
292,834
Depreciation charged in the year
43,334
43,334
At 5 April 2023
336,168
336,168
Carrying amount
At 5 April 2023
7,567
173,336
4,115
185,018
At 5 April 2022
7,567
185,491
4,115
197,173
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
10,926
9,119
SANDOWN DENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
114,426
134,914
Trade creditors and accruals
68,179
97,459
Hire Purchase
3,367
8,435
Corporation tax
89,646
77,396
275,618
318,204