Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31Dental practice2022-11-01false1010falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01673408 2022-11-01 2023-10-31 01673408 2021-11-01 2022-10-31 01673408 2023-10-31 01673408 2022-10-31 01673408 c:Director2 2022-11-01 2023-10-31 01673408 d:PlantMachinery 2022-11-01 2023-10-31 01673408 d:PlantMachinery 2023-10-31 01673408 d:PlantMachinery 2022-10-31 01673408 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01673408 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 01673408 d:MotorVehicles 2022-11-01 2023-10-31 01673408 d:MotorVehicles 2023-10-31 01673408 d:MotorVehicles 2022-10-31 01673408 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01673408 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 01673408 d:FurnitureFittings 2022-11-01 2023-10-31 01673408 d:FurnitureFittings 2023-10-31 01673408 d:FurnitureFittings 2022-10-31 01673408 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01673408 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 01673408 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01673408 d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 01673408 d:CurrentFinancialInstruments 2023-10-31 01673408 d:CurrentFinancialInstruments 2022-10-31 01673408 d:Non-currentFinancialInstruments 2023-10-31 01673408 d:Non-currentFinancialInstruments 2022-10-31 01673408 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01673408 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 01673408 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 01673408 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 01673408 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 01673408 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-10-31 01673408 c:OrdinaryShareClass1 2022-11-01 2023-10-31 01673408 c:OrdinaryShareClass1 2023-10-31 01673408 c:OrdinaryShareClass1 2022-10-31 01673408 c:OrdinaryShareClass2 2022-11-01 2023-10-31 01673408 c:OrdinaryShareClass2 2023-10-31 01673408 c:OrdinaryShareClass2 2022-10-31 01673408 c:OrdinaryShareClass3 2022-11-01 2023-10-31 01673408 c:OrdinaryShareClass3 2023-10-31 01673408 c:OrdinaryShareClass3 2022-10-31 01673408 c:FRS102 2022-11-01 2023-10-31 01673408 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 01673408 c:FullAccounts 2022-11-01 2023-10-31 01673408 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01673408 6 2022-11-01 2023-10-31 01673408 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-31 01673408 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-10-31 01673408 d:LeasedAssetsHeldAsLessee 2023-10-31 01673408 d:LeasedAssetsHeldAsLessee 2022-10-31 01673408 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 01673408












SIDENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 31 OCTOBER 2023



















 


img4f5e.png
01483 755 399
hamlyns.com

 
SIDENT LIMITED
REGISTERED NUMBER: 01673408

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
£
£


Fixed assets
36,881
56,432

Current assets
968,096
1,338,559

Creditors: amounts falling due within one year
(541,659)
(890,108)

Net current assets
 
 
426,437
 
 
448,451

Total assets less current liabilities
463,318
504,883

Creditors: amounts falling due after more than one year
(47,317)
(71,028)

Provisions for liabilities

Deferred taxation
(4,806)
(8,380)

 
 
(4,806)
 
 
(8,380)

Net assets
411,195
425,475



Capital and reserves
411,195
425,475


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 profit and loss account 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 on 18 March 2024.




J R Colville
Director

The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Sident Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address is as below:
Registered office: The Courtyard, 30 London Street, Chertsey, Surrey, KT16 8AA
Registered number: 01673408

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Motor vehicles
-
25%
Fixtures and fittings
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 5

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2023
2022
£
£

Wages and salaries
294,633
301,555

Social security costs
29,684
26,209

Cost of defined contribution scheme
110,945
3,156

435,262
330,920


The average monthly number of employees, including directors, during the year was 10 (2022 - 10).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 November 2022
57,200
77,973
434
135,607



At 31 October 2023

57,200
77,973
434
135,607



Depreciation


At 1 November 2022
57,025
21,718
434
79,177


Charge for the year on owned assets
58
3,710
-
3,768


Charge for the year on financed assets
-
15,784
-
15,784



At 31 October 2023

57,083
41,212
434
98,729



Net book value



At 31 October 2023
117
36,761
-
36,878



At 31 October 2022
175
56,255
-
56,430

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


Page 6

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

           4.Tangible fixed assets (continued)

2023
2022
£
£



Motor vehicles
35,553
51,337

35,553
51,337


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 November 2022
2



At 31 October 2023
2





6.


Debtors

2023
2022
£
£


Trade debtors
187,261
402,976

Other debtors
6,596
15,165

Prepayments and accrued income
33,797
90,654

227,654
508,795



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
195,505
381,378

Less: bank overdrafts
(481)
(481)

195,024
380,897


Page 7

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
481
481

Bank loans
10,098
9,849

Trade creditors
368,453
616,599

Amounts owed to group undertakings
2
2

Corporation tax
3,322
2,869

Other taxation and social security
137,466
176,428

Obligations under finance lease and hire purchase contracts
13,689
15,693

Other creditors
502
401

Accruals and deferred income
7,646
67,786

541,659
890,108



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,516
26,613

Net obligations under finance leases and hire purchase contracts
30,801
44,415

47,317
71,028


Page 8

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,098
9,849


10,098
9,849

Amounts falling due 1-2 years

Bank loans
10,354
20,452


10,354
20,452

Amounts falling due 2-5 years

Bank loans
6,160
6,160


6,160
6,160


26,612
36,461



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
13,689
15,693

Between 1-5 years
30,801
44,415

44,490
60,108

Page 9

 
SIDENT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



180,000 (2022 - 180,000) Ordinary A shares of £0.25 each
45,000
45,000
27,932 (2022 - 27,932) Ordinary B shares of £0.25 each
6,983
6,983
27,931 (2022 - 27,931) Oridnary C shares of £0.25 each
6,983
6,983

58,966

58,966



13.


Controlling party

The company was under the control of J Colville, a director and the majority shareholder, throughout the period.


Page 10