2022-04-012023-03-312023-03-31false06590180Wells Road Dental Surgery 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Wells Road Dental Surgery Ltd

Registered Number
06590180
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Wells Road Dental Surgery Ltd
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Dr Jonathan Owen
Mrs Rebecca Owen

Registered Address

11 Wells Road
Ilkley
LS29 9JB

Registered Number

06590180 (England and Wales)
Wells Road Dental Surgery Ltd
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets7370,000370,000
Tangible assets813,67014,934
383,670384,934
Current assets
Stocks1014,55012,850
Debtors11341,909283,019
Cash at bank and on hand61,46688,185
417,925384,054
Creditors amounts falling due within one year12(83,011)(46,622)
Net current assets (liabilities)334,914337,432
Total assets less current liabilities718,584722,366
Provisions for liabilities13(2,597)(2,837)
Net assets715,987719,529
Capital and reserves
Called up share capital100100
Profit and loss account715,887719,429
Shareholders' funds715,987719,529
The financial statements were approved and authorised for issue by the Board of Directors on 26 October 2023, and are signed on its behalf by:
Dr Jonathan Owen
Director
Registered Company No. 06590180
Wells Road Dental Surgery Ltd
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
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.Principal activities
The principal activity of the company during the year was that of a dental practice.
4.Basis of measurement used in financial statements
The financial statements have been prepared on the historical cost basis.
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling, which is the functional currency of the entity.
Property, plant and equipment policy
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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:
Intangible assets policy
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Stocks policy
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing the stock to its present location and condition.
Revenue recognition policy
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 state of completion.
Taxation policy
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 amount 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 policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Going concern
Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, 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.
6.Employee information

20232022
Average number of employees during the year66
7.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 22370,000370,000
At 31 March 23370,000370,000
Net book value
At 31 March 23370,000370,000
At 31 March 22370,000370,000
8.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 229,66810,88620,554
Additions3361,8182,154
At 31 March 2310,00412,70422,708
Depreciation and impairment
At 01 April 222,6262,9945,620
Charge for year1,4761,9423,418
At 31 March 234,1024,9369,038
Net book value
At 31 March 235,9027,76813,670
At 31 March 227,0427,89214,934
9.Description of nature of transactions and balances with related parties
During the year the Directors loaned the Company £363 (2022 : £1,178). This amount was interest free and repayable on demand.
10.Stocks

2023

2022

££
Raw materials and consumables14,55012,850
Total14,55012,850
11.Debtors

2023

2022

££
Trade debtors / trade receivables4,5134,508
Amounts owed by group undertakings295,156278,511
Prepayments and accrued income42,240-
Total341,909283,019
12.Creditors within one year

2023

2022

££
Trade creditors / trade payables47,22710,109
Taxation and social security33,08132,635
Other creditors3631,178
Accrued liabilities and deferred income2,3402,700
Total83,01146,622
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)2,5972,837
Total2,5972,837