Registered number
08554395
Lonsdale Dental Ltd
Unaudited Filleted Accounts
For the Year Ended
31 August 2023
Lonsdale Dental Ltd
Registered number: 08554395
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 131,900
Tangible assets 4 6,017 103,346
6,017 235,246
Current assets
Stocks - 20,000
Debtors 5 817,528 33,132
Cash at bank and in hand 113,846 275,451
931,374 328,583
Creditors: amounts falling due within one year 6 (111,582) (94,859)
Net current assets 819,792 233,724
Total assets less current liabilities 825,809 468,970
Provisions for liabilities (1,143) (19,636)
Net assets 824,666 449,334
Capital and reserves
Called up share capital 10 10
Profit and loss account 824,656 449,324
Shareholders' funds 824,666 449,334
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B A Rimmer
Director
Approved by the board on 6 February 2024
Lonsdale Dental Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery 20% reducing balance
Office equipment 33.3% reducing balance
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 239,814
Disposals (239,814)
At 31 August 2023 -
Amortisation
At 1 September 2022 107,914
On disposals (107,914)
At 31 August 2023 -
Net book value
At 31 August 2023 -
At 31 August 2022 131,900
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 263,560
Additions 8,193
Disposals (263,560)
At 31 August 2023 8,193
Depreciation
At 1 September 2022 160,214
Charge for the year 2,176
On disposals (160,214)
At 31 August 2023 2,176
Net book value
At 31 August 2023 6,017
At 31 August 2022 103,346
5 Debtors 2023 2022
£ £
Trade debtors 51,497 29,599
Other debtors 766,031 3,533
817,528 33,132
Included within Other debtors due within one year is an unsecured loan to BA & AC Rimmer, Directors for £763,900 (2022 - £Nil).
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 30,350 41,931
Taxation and social security costs 76,497 40,429
Other creditors 4,735 12,499
111,582 94,859
7 Other information
Lonsdale Dental Ltd is a private company limited by shares and incorporated in England. Its registered office is:
93 Ruff Lane
Westhead
Ormskirk
L40 6HA
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