Love The Dentist Chester Ltd 13188126 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is Dental practice Digita Accounts Production Advanced 6.30.9574.0 true true 13188126 2022-12-01 2023-11-30 13188126 2023-11-30 13188126 core:RetainedEarningsAccumulatedLosses 2023-11-30 13188126 core:ShareCapital 2023-11-30 13188126 core:CurrentFinancialInstruments 2023-11-30 13188126 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 13188126 core:Non-currentFinancialInstruments 2023-11-30 13188126 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 13188126 core:Goodwill 2023-11-30 13188126 core:OtherPropertyPlantEquipment 2023-11-30 13188126 bus:SmallEntities 2022-12-01 2023-11-30 13188126 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 13188126 bus:FullAccounts 2022-12-01 2023-11-30 13188126 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 13188126 bus:RegisteredOffice 2022-12-01 2023-11-30 13188126 bus:Director1 2022-12-01 2023-11-30 13188126 bus:Director2 2022-12-01 2023-11-30 13188126 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13188126 core:Goodwill 2022-12-01 2023-11-30 13188126 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 13188126 countries:AllCountries 2022-12-01 2023-11-30 13188126 2022-11-30 13188126 core:Goodwill 2022-11-30 13188126 core:OtherPropertyPlantEquipment 2022-11-30 13188126 2021-12-01 2022-11-30 13188126 2022-11-30 13188126 core:RetainedEarningsAccumulatedLosses 2022-11-30 13188126 core:ShareCapital 2022-11-30 13188126 core:CurrentFinancialInstruments 2022-11-30 13188126 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 13188126 core:Non-currentFinancialInstruments 2022-11-30 13188126 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 13188126 core:Goodwill 2022-11-30 13188126 core:OtherPropertyPlantEquipment 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 13188126

Love The Dentist Chester Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Love The Dentist Chester Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Love The Dentist Chester Ltd

Company Information

Directors

Dr Gregory John Paysden

Mrs Nina Elizabeth Eve Paysden

Registered office

9 St John Street
Chester
CH1 1DA

 

Love The Dentist Chester Ltd

(Registration number: 13188126)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

185,594

208,793

Tangible assets

5

10,800

14,400

 

196,394

223,193

Current assets

 

Stocks

6

3,500

3,500

Debtors

7

33,844

5,024

Cash at bank and in hand

 

2,540

2,611

 

39,884

11,135

Creditors: Amounts falling due within one year

8

(53,684)

(47,237)

Net current liabilities

 

(13,800)

(36,102)

Total assets less current liabilities

 

182,594

187,091

Creditors: Amounts falling due after more than one year

8

(286,525)

(227,535)

Net liabilities

 

(103,931)

(40,444)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(104,031)

(40,544)

Shareholders' deficit

 

(103,931)

(40,444)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 11 April 2024 and signed on its behalf by:

Dr Gregory John Paysden
Director

 

Love The Dentist Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
9 St John Street
Chester
CH1 1DA

These financial statements were authorised for issue by the Board on 11 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Love The Dentist Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Love The Dentist Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 6).

 

Love The Dentist Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2022

231,992

231,992

At 30 November 2023

231,992

231,992

Amortisation

At 1 December 2022

23,199

23,199

Amortisation charge

23,199

23,199

At 30 November 2023

46,398

46,398

Carrying amount

At 30 November 2023

185,594

185,594

At 30 November 2022

208,793

208,793

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

18,000

18,000

At 30 November 2023

18,000

18,000

Depreciation

At 1 December 2022

3,600

3,600

Charge for the year

3,600

3,600

At 30 November 2023

7,200

7,200

Carrying amount

At 30 November 2023

10,800

10,800

At 30 November 2022

14,400

14,400

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

3,500

3,500

 

Love The Dentist Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

10,971

3,127

Amounts owed by related parties

18,661

-

Prepayments

 

2,156

1,897

Provision for PAYE refund

 

2,056

-

   

33,844

5,024

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

15,754

8,305

Credit card account

 

9,790

9,645

Amounts owed to Directors'

57

108

Taxation and social security

 

-

803

Pension contributions

 

-

178

Accruals

 

28,083

18,198

Retention held

 

-

10,000

 

53,684

47,237

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

216,310

182,568

Amounts owed to participating interests

 

70,215

44,967

 

286,525

227,535

 

Love The Dentist Chester Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

216,310

182,568

2023
£

2022
£

Current loans and borrowings

Bank borrowings

15,754

8,305