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REGISTRAR OF COMPANIES

Registration number: 06447094

3A Dental Care Ltd

Unaudited Financial Statements

31 March 2023

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3A Dental Care Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
3A Dental Care Ltd
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 3A Dental Care Ltd for the year ended 31 March 2023 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of 3A Dental Care Ltd, as a body, in accordance with the terms of our engagement letter dated 20 September 2023. Our work has been undertaken solely to prepare for your approval the accounts of 3A Dental Care Ltd and state those matters that we have agreed to state to the Board of Directors of 3A Dental Care Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 3A Dental Care Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that 3A Dental Care Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 3A Dental Care Ltd. You consider that 3A Dental Care Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of 3A Dental Care Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

26 October 2023

 

3A Dental Care Ltd

(Registration number: 06447094)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

23,172

35,262

Tangible assets

5

83,193

89,118

 

106,365

124,380

Current assets

 

Stocks

12,462

12,382

Debtors

6

11,192

8,235

Cash at bank and in hand

 

25,673

38,084

 

49,327

58,701

Creditors: Amounts falling due within one year

7

(60,931)

(55,819)

Net current (liabilities)/assets

 

(11,604)

2,882

Total assets less current liabilities

 

94,761

127,262

Creditors: Amounts falling due after more than one year

7

(68,985)

(63,273)

Provisions for liabilities

(10,798)

(11,808)

Net assets

 

14,978

52,181

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

14,878

52,081

Total equity

 

14,978

52,181

 

3A Dental Care Ltd

(Registration number: 06447094)
Balance Sheet as at 31 March 2023 (continued)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 October 2023
 

.........................................

C J Broadbent

Director

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3A Great John Street
LANCASTER
LA1 1NQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company has net current liabilities at 31 March 2023 and meets its day to day working capital requirements through its bank loans. On the basis of this support, the director considers it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its bankers, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tenants improvements to property

2% straight line basis

Plant and machinery

15% reducing balance basis

Fixtures, fittings and office equipment

15% reducing balance basis or 33% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 9).

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

186,000

186,000

At 31 March 2023

186,000

186,000

Amortisation

At 1 April 2022

150,738

150,738

Amortisation charge

12,090

12,090

At 31 March 2023

162,828

162,828

Carrying amount

At 31 March 2023

23,172

23,172

At 31 March 2022

35,262

35,262

5

Tangible assets

Tenants improvements to property
£

Plant and machinery
£

Fixtures, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 April 2022

30,444

55,635

90,812

176,891

Additions

-

3,860

749

4,609

At 31 March 2023

30,444

59,495

91,561

181,500

Depreciation

At 1 April 2022

3,477

24,657

59,639

87,773

Charge for the year

609

4,909

5,016

10,534

At 31 March 2023

4,086

29,566

64,655

98,307

Carrying amount

At 31 March 2023

26,358

29,929

26,906

83,193

At 31 March 2022

26,967

30,978

31,173

89,118

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

6

Debtors

2023
£

2022
£

Other debtors

11,192

8,235

11,192

8,235

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

23,591

21,548

Trade creditors

 

20,698

19,005

Taxation and social security

 

2,147

44

Corporation tax liability

 

9,926

11,446

Other creditors

 

4,569

3,776

 

60,931

55,819

Due after one year

 

Loans and borrowings

8

68,985

63,273

2023
£

2022
£

After more than five years by instalments

11,111

-

11,111

-

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Finance lease liabilities

5,603

5,585

Other borrowings

17,988

15,963

23,591

21,548

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Finance lease liabilities

5,603

5,585

Finance lease liabilities are secured on the assets to which they relate.

2023
£

2022
£

Non-current loans and borrowings

Finance lease liabilities

7,361

12,982

Other borrowings

61,624

50,291

68,985

63,273

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Finance lease liabilities

7,361

12,982

Finance lease liabilities are secured on the assets to which they relate.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £12,150 (2022 - £2,250).

 

3A Dental Care Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

10

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 March 2023
£

C J Broadbent

Loan

7,730

21,447

(10,954)

-

(7,800)

152

10,575

               
         

 

2022

At 1 April 2021
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 March 2022
£

C J Broadbent

Loan

6,870

18,996

(11,283)

-

(7,000)

147

7,730

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2.00% on advances to the director.