Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01Other letting and operating of own or leased real estatefalse22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC145413 2022-04-01 2023-03-31 SC145413 2021-04-01 2022-03-31 SC145413 2023-03-31 SC145413 2022-03-31 SC145413 2021-04-01 SC145413 c:Director1 2022-04-01 2023-03-31 SC145413 d:FreeholdInvestmentProperty 2023-03-31 SC145413 d:FreeholdInvestmentProperty 2022-03-31 SC145413 d:FreeholdInvestmentProperty 2 2022-04-01 2023-03-31 SC145413 d:CurrentFinancialInstruments 2023-03-31 SC145413 d:CurrentFinancialInstruments 2022-03-31 SC145413 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC145413 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC145413 d:ShareCapital 2023-03-31 SC145413 d:ShareCapital 2022-03-31 SC145413 d:SharePremium 2023-03-31 SC145413 d:SharePremium 2022-03-31 SC145413 d:RevaluationReserve 2022-04-01 2023-03-31 SC145413 d:RevaluationReserve 2023-03-31 SC145413 d:RevaluationReserve 2022-03-31 SC145413 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 SC145413 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC145413 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC145413 c:FRS102 2022-04-01 2023-03-31 SC145413 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC145413 c:FullAccounts 2022-04-01 2023-03-31 SC145413 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC145413 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 SC145413 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: SC145413









QUEENS ROAD DENTAL PRACTICE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
QUEENS ROAD DENTAL PRACTICE LIMITED
REGISTERED NUMBER: SC145413

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
750,000
760,000

  
750,000
760,000

Current assets
  

Cash at bank and in hand
  
7,571
17,610

  
7,571
17,610

Creditors: amounts falling due within one year
 6 
(215,589)
(266,957)

Net current liabilities
  
 
 
(208,018)
 
 
(249,347)

Total assets less current liabilities
  
541,982
510,653

Provisions for liabilities
  

Deferred tax
 7 
(68,071)
(70,571)

  
 
 
(68,071)
 
 
(70,571)

Net assets
  
473,911
440,082


Capital and reserves
  

Called up share capital 
  
3,000
3,000

Share premium account
 8 
1,002
1,002

Revaluation reserve
 8 
411,929
435,207

Profit and loss account
 8 
57,980
873

  
473,911
440,082


Page 1

 
QUEENS ROAD DENTAL PRACTICE LIMITED
REGISTERED NUMBER: SC145413
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

A. Reid
Director

Date: 20 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
QUEENS ROAD DENTAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Queens Road Dental Practice Limited is a private company limited by share capital, incorporated in Scotland. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activies are set out in the Directors' report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the Company remains profitable and the Directors are satisfied that the Company will continue to have access to sufficient funds to meet its cash flow requirements for a period of at least twelve months from the date of approval of these financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
QUEENS ROAD DENTAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
QUEENS ROAD DENTAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. 


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
QUEENS ROAD DENTAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
760,000


Surplus on revaluation
(10,000)



At 31 March 2023
750,000


Comprising


Cost
280,000

Annual revaluation surplus/(deficit):


2014
645,000

2017 and 2018
(165,000)

2023
(10,000)

At 31 March 2023
750,000

The fair value of £750,000 was determined by the Directors on an open market value for existing use basis. 
There was a valuation of the investment property by an independent valuer who is MRICS qualified after the year end which is based on the marvet valiue subject to the current tenancies. This valuation agrees with the value in the accounts.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
280,000
280,000

280,000
280,000

Page 6

 
QUEENS ROAD DENTAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,985
-

Amounts owed to group undertakings
206,329
259,929

Corporation tax
4,325
5,078

Accruals and deferred income
1,950
1,950

215,589
266,957



7.


Deferred taxation




2023
2022


£

£






At beginning of year
(70,571)
(53,634)


Charged to profit or loss
2,500
(16,937)



At end of year
(68,071)
(70,571)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(68,071)
(70,571)

(68,071)
(70,571)


8.


Reserves

Investment property revaluation reserve 

This represents the cumulative profits and loss reserve arising on the revaluation of investment properties, that is not distributable to shareholders. 

Profit and loss account

The profit and loss account represents the distributable reserves of the Company.

Page 7

 
QUEENS ROAD DENTAL PRACTICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Related party transactions

At the balance sheet date the Company owed £206,329 (2022: £259,929) to its parent company, Kandy Holdings Limited. No interest is charged on this balance and it is repayable on demand.


10.


Controlling party

The immediate and ultimate parent company is Kandy Holdings Limited, a company incorporated in England and Wales.
The Directors are the ultimate controlling party due to their joint shareholding in the parent company.

 
Page 8