REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 May 2022 to 31 October 2023 |
for |
T Bellingan Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 May 2022 to 31 October 2023 |
for |
T Bellingan Limited |
T Bellingan Limited (Registered number: 08957469) |
Contents of the Financial Statements |
for the Period 1 May 2022 to 31 October 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Chartered Certified Accountant's Report | 9 |
T Bellingan Limited |
Company Information |
for the Period 1 May 2022 to 31 October 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANT: |
Kelyn |
Old Hill |
Helston |
Cornwall |
TR13 8HT |
T Bellingan Limited (Registered number: 08957469) |
Statement of Financial Position |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
T Bellingan Limited (Registered number: 08957469) |
Statement of Financial Position - continued |
31 October 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
T Bellingan Limited (Registered number: 08957469) |
Notes to the Financial Statements |
for the Period 1 May 2022 to 31 October 2023 |
1. | STATUTORY INFORMATION |
T Bellingan Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value of dentistry goods or services supplied. NHS income is recognised based on levels of dental activity delivered. Where there is under delivery against target activity levels then a potential clawback arises and a creditor is established. Private treatment is recognised based on the stage of completion. Services are exempt from Value Added Tax. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Short leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
T Bellingan Limited (Registered number: 08957469) |
Notes to the Financial Statements - continued |
for the Period 1 May 2022 to 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2022 |
and 31 October 2023 |
AMORTISATION |
At 1 May 2022 |
Amortisation for period |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 30 April 2022 |
T Bellingan Limited (Registered number: 08957469) |
Notes to the Financial Statements - continued |
for the Period 1 May 2022 to 31 October 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Short | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST |
At 1 May 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for period |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 30 April 2022 |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for period |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 30 April 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Directors' current accounts | 66,827 | - |
Prepayments |
T Bellingan Limited (Registered number: 08957469) |
Notes to the Financial Statements - continued |
for the Period 1 May 2022 to 31 October 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Payments on account |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | - | 158,081 |
Accrued expenses |
8. | CONTINGENT LIABILITIES |
The Director wishes to highlight a potential contingent liability obligation arising from past events but whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events. |
The NHS contract requires the performance of a target level of Units of Dental Activity (UDA's). Where there is an annual shortfall against the contracted target, then the practice may need to return funds to the NHS in recognition of that underperformance. This is referred to as a clawback. |
At the accounting date, the reported UDA's are short of target, which at current estimates could be valued at around £110,000. |
The actual underperformance will only be accurately measured and assessed after 31 March 2024, when the NHS start to undertake an annual reconciliation against contracted targets. The outcome of that reconciliation will not be known until at least July 2024. The NHS may also adjust contracted targets below 100%, to reflect circumstances in the wider sector affecting practices trying to deliver dental services. Any clawback funds will be deducted from future NHS scheduled payments beginning September 2024. |
The practice still has time to make up lost ground between now and 31 March 2024, to mitigate the extent of the underperformance and any clawback. At this time, the amount of any obligation cannot be measured with sufficiently reliability. |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 October 2023 and the year ended 30 April 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
T Bellingan Limited (Registered number: 08957469) |
Notes to the Financial Statements - continued |
for the Period 1 May 2022 to 31 October 2023 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
During the year the Director received a net advance of £66,827 as a temporary loan. |
The main conditions regarding advances and credits were that sums were to be repaid to the company as soon as possible and any overdrawn balance would incur interest at the official rate of interest. The official rate of interest during the period was 2.00% throughout the period. The assessment of interest is based on the averaged balance over the course of a tax year. |
10. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £13,800 (2022 - £60,000) were paid to the director . |
At the end of the year the director owed the company £66,827 being the balance on the directors loan account at the end of the year. |
Chartered Certified Accountant's Report to the Director |
on the Unaudited Financial Statements of |
T Bellingan Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of T Bellingan Limited for the period ended 31 October 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given me. |
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of T Bellingan Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of T Bellingan Limited and state those matters that I have agreed to state to the director of T Bellingan Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report. |
It is your duty to ensure that T Bellingan Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T Bellingan Limited. You consider that T Bellingan Limited is exempt from the statutory audit requirement for the period. |
I have not been instructed to carry out an audit or a review of the financial statements of T Bellingan Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. |
Kelyn |
Old Hill |
Helston |
Cornwall |
TR13 8HT |