Registered number
07111693
LADY BAY DENTAL CARE LIMITED
Filleted Accounts
31 March 2023
LADY BAY DENTAL CARE LIMITED
Registered number: 07111693
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 126,000 144,000
Tangible assets 4 69,555 22,947
195,555 166,947
Current assets
Stocks 3,750 3,500
Debtors 5 4,916 2,973
Cash at bank and in hand 220,837 46,703
229,503 53,176
Creditors: amounts falling due within one year 6 (81,693) (19,393)
Net current assets 147,810 33,783
Total assets less current liabilities 343,365 200,730
Provisions for liabilities (13,009) (4,108)
Net assets 330,356 196,622
Capital and reserves
Called up share capital 2 2
Profit and loss account 330,354 196,620
Shareholders' funds 330,356 196,622
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Sachin Soni
Director
Approved by the board on 24 October 2023
LADY BAY DENTAL CARE LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 15% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 360,000
At 31 March 2023 360,000
Amortisation
At 1 April 2022 216,000
Provided during the year 18,000
At 31 March 2023 234,000
Net book value
At 31 March 2023 126,000
At 31 March 2022 144,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 67,874
Additions 58,882
At 31 March 2023 126,756
Depreciation
At 1 April 2022 44,927
Charge for the year 12,274
At 31 March 2023 57,201
Net book value
At 31 March 2023 69,555
At 31 March 2022 22,947
5 Debtors 2023 2022
£ £
Trade debtors 3,462 2,973
Other debtors 1,454 -
4,916 2,973
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 9,308 3,266
Taxation and social security costs 57,061 11,868
Other creditors 15,324 4,259
81,693 19,393
7 Other information
LADY BAY DENTAL CARE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
6a Radcliffe Road
West Bridgford
Nottingham
England
NG2 5FW
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