1 April 2022 v2023.27.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP065454132022-04-012023-03-31065454132023-03-31065454132022-03-3106545413core:WithinOneYear2023-03-3106545413core:WithinOneYear2022-03-3106545413core:AfterOneYear2023-03-3106545413core:AfterOneYear2022-03-3106545413core:ShareCapital2023-03-3106545413core:ShareCapital2022-03-3106545413core:RetainedEarningsAccumulatedLosses2023-03-3106545413core:RetainedEarningsAccumulatedLosses2022-03-3106545413bus:Director12022-04-012023-03-3106545413bus:RegisteredOffice2022-04-012023-03-3106545413core:NetGoodwill2022-04-012023-03-3106545413core:Goodwill2022-04-012023-03-3106545413core:LandBuildings2022-04-012023-03-3106545413core:PlantMachinery2022-04-012023-03-3106545413core:OfficeEquipment2022-04-012023-03-31065454132021-04-012022-03-3106545413core:NetGoodwill2022-04-0106545413core:IntangibleAssetsOtherThanGoodwill2022-04-01065454132022-04-0106545413core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106545413core:NetGoodwill2023-03-3106545413core:IntangibleAssetsOtherThanGoodwill2023-03-3106545413core:NetGoodwill2022-03-3106545413core:IntangibleAssetsOtherThanGoodwill2022-03-3106545413core:LandBuildings2022-04-0106545413core:PlantMachinery2022-04-0106545413core:LandBuildings2023-03-3106545413core:PlantMachinery2023-03-3106545413core:LandBuildings2022-03-3106545413core:PlantMachinery2022-03-310654541312022-04-012023-03-3106545413countries:EnglandWales2022-04-012023-03-3106545413bus:AuditExemptWithAccountantsReport2022-04-012023-03-3106545413bus:PrivateLimitedCompanyLtd2022-04-012023-03-3106545413bus:SmallEntities2022-04-012023-03-3106545413bus:FullAccounts2022-04-012023-03-31
Company registration number:
06545413
Birchwood Dental Practice Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2023
Sandwell Accountancy Services Limited
Certified Public Accountants
Old Bank Buildings, Upper High Street, Cradley Heath, West Midlands, B64 5HY, United Kingdom
Birchwood Dental Practice Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Birchwood Dental Practice Ltd
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 Birchwood Dental Practice Limited for the year ended 31 March 2023, from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Certified Public Accountants, we are subject to its ethical and other professional requirements.
This report is made solely to the Board of Directors of Birchwood Dental Practice Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Birchwood Dental Practice Limited and state those matters that we have agreed to state to the Board of Directors of Birchwood Dental Practice Limited, as a body, in this report in accordance with the requirements of the Association of Certified Public Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Birchwood Dental Practice Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Birchwood Dental Practice Limited has kept adequate accounting records and to prepare statutory accounts that give a trust and fair view of the assets, liabilities, financial position and results of Birchwood Dental Practice Limited. You consider that Birchwood Dental Practice Limited 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 Birchwood Dental Practice Limited. 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.
Sandwell Accountancy Services Limited
Certified Public Accountants
Old Bank Buildings
Upper High Street
Cradley Heath
West Midlands
B64 5HY
United Kingdom
Birchwood Dental Practice Ltd
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Intangible assets 5
109,176
 
233,089
 
Tangible assets 6
1,000,816
 
925,797
 
1,109,992
 
1,158,886
 
Current assets    
Debtors 7
(12,015
)
86,856
 
Cash at bank and in hand
290,978
 
256,974
 
278,963
 
343,830
 
Creditors: amounts falling due within one year 8
(86,762
)
(179,579
)
Net current assets
192,201
 
164,251
 
Total assets less current liabilities 1,302,193   1,323,137  
Creditors: amounts falling due after more than one year 9
(328,493
)
(296,668
)
Net assets
973,700
 
1,026,469
 
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account
973,690
 
1,026,459
 
Shareholders funds
973,700
 
1,026,469
 
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.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
21 November 2023
, and are signed on behalf of the board by:
Mr P Sangha
Director
Company registration number:
06545413
Birchwood Dental Practice Ltd
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Old Bank Buildings
,
Upper High Street
,
Cradley Heath
,
West Midlands
,
B64 5HY
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
25% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
None
Plant and machinery
20% reducing balance
Office equipment
20% reducing balance

Impairment

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.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in 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.

4 Average number of employees

The average number of persons employed by the company during the year was
11
(2022:
10.00
).

5 Intangible assets

GoodwillOther intangible assetsTotal
£££
Cost      
At
1 April 2022
242,000
 
148,389
 
390,389
 
Other movements -  
(111,813
)
(111,813
)
At
31 March 2023
242,000
 
36,576
 
278,576
 
Amortisation      
At
1 April 2022
157,300
  -  
157,300
 
Charge
12,100
  -  
12,100
 
At
31 March 2023
169,400
  -  
169,400
 
Carrying amount      
At
31 March 2023
72,600
 
36,576
 
109,176
 
At 31 March 2022
84,700
 
148,389
 
233,089
 

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2022
865,675
 
343,432
 
1,209,107
 
Additions
29,999
 
71,063
 
101,062
 
At
31 March 2023
895,674
 
414,495
 
1,310,169
 
Depreciation      
At
1 April 2022
-  
283,310
 
283,310
 
Charge -  
26,043
 
26,043
 
At
31 March 2023
-  
309,353
 
309,353
 
Carrying amount      
At
31 March 2023
895,674
 
105,142
 
1,000,816
 
At 31 March 2022
865,675
 
60,122
 
925,797
 

7 Debtors

20232022
££
Trade debtors
(126,524
)
(27,653
)
Other debtors
114,509
 
114,509
 
(12,015
)
86,856
 
The debtors above include the following amounts falling due after more than one year:
20232022
££
Trade debtors -  
22,947
 
Other debtors -  
114,509
 
-  
137,456
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
14,057
 
26,121
 
Trade creditors
22,218
 
38,755
 
Taxation and social security
5,170
 
61,174
 
Other creditors
45,317
 
53,529
 
86,762
 
179,579
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
322,854
 
286,844
 
Other creditors
5,639
 
9,824
 
328,493
 
296,668