2022-03-012023-02-282023-02-28false07557149AESTHETIC DENTAL STUDIO 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AESTHETIC DENTAL STUDIO LIMITED

Registered Number
07557149
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

AESTHETIC DENTAL STUDIO LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

TOWLERTON, Andrew James

Registered Address

The Dairy 19 Home Farm Close
Kelham
Newark
NG23 5QB

Registered Number

07557149 (England and Wales)
AESTHETIC DENTAL STUDIO LIMITED
Statement of Financial Position
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets711
Tangible assets8137,732120,015
137,733120,016
Current assets
Debtors1015,678114,464
Cash at bank and on hand56,8353,582
72,513118,046
Creditors amounts falling due within one year11(40,937)(39,521)
Net current assets (liabilities)31,57678,525
Total assets less current liabilities169,309198,541
Creditors amounts falling due after one year12(18,936)(39,234)
Provisions for liabilities14(20,404)(15,772)
Net assets129,969143,535
Capital and reserves
Called up share capital100100
Profit and loss account129,869143,435
Shareholders' funds129,969143,535
The financial statements were approved and authorised for issue by the Director on 22 November 2023, and are signed on its behalf by:
TOWLERTON, Andrew James
Director
Registered Company No. 07557149
AESTHETIC DENTAL STUDIO LIMITED
Notes to the Financial Statements
for the year ended 28 February 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 dentistry.
4.Basis of measurement used in financial statements
The financial statements have been prepared on the historical cost basis.
5.Accounting policies
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:

Reducing balance (%)Straight line (years)
Plant and machinery-3
Vehicles20-
Office Equipment15-
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.
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.
Leases policy
Assets held under finance leases and hire purchase contracts 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.
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.
Valuation of financial instruments policy
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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 year11
7.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 22278,050278,050
At 28 February 23278,050278,050
Amortisation and impairment
At 01 March 22278,049278,049
At 28 February 23278,049278,049
Net book value
At 28 February 2311
At 28 February 2211
8.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 March 22210,20381,47812,635304,316
Additions39,806-2,62742,433
Disposals--(1,048)(1,048)
At 28 February 23250,00981,47814,214345,701
Depreciation and impairment
At 01 March 22149,96424,7649,573184,301
Charge for year11,83911,3431,28924,471
On disposals--(803)(803)
At 28 February 23161,80336,10710,059207,969
Net book value
At 28 February 2388,20645,3714,155137,732
At 28 February 2260,23956,7143,062120,015
9.Description of nature of transactions and balances with related parties
During the year, the company operated a directors loan account with the directors. This loan was repayable on demand. At the year end date, the company owed the directors £1,258.62 (2022: £1,431)
10.Debtors

2023

2022

££
Trade debtors / trade receivables14,11742,055
Amounts owed by group undertakings1,56172,359
Prepayments and accrued income-50
Total15,678114,464
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,3261,143
Bank borrowings and overdrafts8,612-
Amounts owed to related parties1,2591,431
Taxation and social security26,73134,330
Other creditors386-
Accrued liabilities and deferred income2,6232,617
Total40,93739,521
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts18,93627,548
Other creditors-11,686
Total18,93639,234
13.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts-11,686
14.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)20,40415,772
Total20,40415,772