Registered number
08662790
Dentist Now Limited
Unaudited Filleted Accounts
30 March 2023
Dentist Now Limited
Registered number: 08662790
Balance Sheet
as at 30 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 2,582,449 2,649,998
Investments 3 80,000 80,000
2,662,449 2,729,998
Current assets
Cash at bank and in hand 6,045,197 3,524,766
Creditors: amounts falling due within one year 4 (783,748) (518,699)
Net current assets 5,261,449 3,006,067
Total assets less current liabilities 7,923,898 5,736,065
Creditors: amounts falling due after more than one year 5 (1,241,270) (1,364,022)
Net assets 6,682,628 4,372,043
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,682,528 4,371,943
Shareholder's funds 6,682,628 4,372,043
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Dr A Rai
Director
Approved by the board on 3 January 2024
Dentist Now Limited
Notes to the Accounts
for the year ended 30 March 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. 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.
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:
Premises and Improvements 2% reducing balance basis
Equipment, fixtures and fittings 20% reducing balance basis
Motor vehicle 20% reducing balance basis
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.
30/03/2023 30/03/2022
Number Number
Average number of employees 19 19
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.
Premises costs
Two properties, namely 2-4 Providence Road, West Drayton UB7 8HJ and 77 Belmont Road, Uxbridge UB8 1QU, the title to the properties still remianed in the name of Dr A. Rai.Whilst the legal title sits with the Director, Dr A Rai, it is his undertaking that the beneficial interest in the properties is held by the Company and that he is acting as a nominee. The beneficial interest includes the entire interest in the capital value of the land and any income derived therefrom.
2 Tangible fixed assets
Premises and Improvements Equipment, fixtures and fittings Motor Vehicle Total
£ £ £ £
Cost
At 31 March 2022 2,533,751 602,150 53,850 3,189,751
Additions - 55,000 - 55,000
At 30 March 2023 2,533,751 657,150 53,850 3,244,751
Depreciation
At 31 March 2022 209,027 318,700 12,026 539,753
Charge for the year 46,494 67,690 8,365 122,549
At 30 March 2023 255,521 386,390 20,391 662,302
Net book value
At 30 March 2023 2,278,230 270,760 33,459 2,582,449
At 30 March 2022 2,324,724 283,450 41,824 2,649,998
3 Investments
Other
investments
£
Cost
At 31 March 2022 80,000
At 30 March 2023 80,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Director's current account (53,178) (153,178)
Bank loans 122,752 122,752
Trade creditors 87,618 85,968
Corporation tax 571,456 427,285
Other taxes and social security costs 47,300 28,672
Other creditors and accruals 7,800 7,200
783,748 518,699
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,241,270 1,364,022
6 Controlling party
Dr A Rai, director, controls the company by virtue of a controlling interest of 100% of the issued share capital.
7 Other information
Dentist Now Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Leeland Mansions
Leeland Road
West Ealing
London
W13 9HE
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