Company registration number 08675291 (England and Wales)
TEETH IN LINE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TEETH IN LINE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
TEETH IN LINE HOLDINGS LIMITED
BALANCE SHEET
AS AT
29 SEPTEMBER 2023
29 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
438,152
438,152
Investments
6
200
200
438,352
438,352
Current assets
Debtors
8
19,073
19,073
Cash at bank and in hand
58,041
10,041
77,114
29,114
Creditors: amounts falling due within one year
9
(1,392,280)
(1,344,280)
Net current liabilities
(1,315,166)
(1,315,166)
Total assets less current liabilities
(876,814)
(876,814)
Creditors: amounts falling due after more than one year
10
(48,495)
(48,495)
Net liabilities
(925,309)
(925,309)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(925,409)
(925,409)
Total equity
(925,309)
(925,309)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TEETH IN LINE HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 SEPTEMBER 2023
29 September 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 March 2024 and are signed on its behalf by:
Mr R Tobin
Ms P Desmond
Director
Director
Company Registration No. 08675291
TEETH IN LINE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information

Teeth in Line Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 David Mews, London, W1U 6EQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% on the straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

TEETH IN LINE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TEETH IN LINE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2023
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Intangible fixed assets
Goodwill
£
Cost
At 30 September 2022 and 29 September 2023
2,190,652
Amortisation and impairment
At 30 September 2022 and 29 September 2023
1,752,500
Carrying amount
At 29 September 2023
438,152
At 29 September 2022
438,152
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 September 2022 and 29 September 2023
147,509
Depreciation and impairment
At 30 September 2022 and 29 September 2023
147,509
Carrying amount
At 29 September 2023
-
0
At 29 September 2022
-
0
TEETH IN LINE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2023
- 6 -
6
Fixed asset investments
2023
2022
£
£
Investments
200
200
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 30 September 2022 & 29 September 2023
200
Carrying amount
At 29 September 2023
200
At 29 September 2022
200
7
Subsidiaries

Details of the company's subsidiaries at 29 September 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Newport Pagnell Dental Limited
England and Wales
Dental practice
Ordinary
100.00
Teeth in Line Limited
England and Wales
Dental practice
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Newport Pagnell Dental Limited
259,055
373,527
Teeth in Line Limited
118,875
343,709
8
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
19,073
19,073
TEETH IN LINE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2023
- 7 -
9
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
35,000
35,000
Trade creditors
109
109
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,323,256
1,275,256
Other creditors
33,915
33,915
1,392,280
1,344,280
10
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
48,495
48,495

The loan is secured by a fixed charge over the assets of the company.

11
Related party transactions

Included in other creditors due within one year are amounts of £4,621 (2022: £4,621) due to R Tobin and £26,294 (2022: £26,294) due to P Desmond, who are both directors of the company. There are no terms of repayment or interest due in respect of these balances.

 

Also included in other creditors are amounts of £209,837 (2022: £185,837) due to Newport Pagnell Dental Limited, £1,055,304 (2022: £1,031,304) due to Teeth in Line Limited and £58,115 (2022: £58,115) due to Chrome Estates Limited, all companies in which R Tobin and P Desmond are directors.

 

Dividends of £750,000 (2022: £720,000) were paid to the directors in the year.

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