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REGISTRAR OF COMPANIES

Registration number: 11121035

Life Dental Services Limited

Unaudited Financial Statements

1 April 2022 to 5 April 2023

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Life Dental Services Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Life Dental Services Limited
for the Period Ended 5 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Life Dental Services Limited for the period ended 5 April 2023 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Life Dental Services Limited, as a body, in accordance with the terms of our engagement letter dated 2 September 2022. Our work has been undertaken solely to prepare for your approval the accounts of Life Dental Services Limited and state those matters that we have agreed to state to the Board of Directors of Life Dental Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Life Dental Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Life Dental Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Life Dental Services Limited. You consider that Life Dental Services Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Life Dental Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

9 November 2023

 

Life Dental Services Limited

(Registration number: 11121035)
Balance Sheet as at 5 April 2023

Note

5 April 2023
£

31 March 2022
£

Fixed assets

 

Investment property

4

616,421

548,121

Current assets

 

Debtors

5

56,945

190,925

Cash at bank and in hand

 

19,353

34,163

 

76,298

225,088

Creditors: Amounts falling due within one year

6

(138,442)

(268,108)

Net current liabilities

 

(62,144)

(43,020)

Total assets less current liabilities

 

554,277

505,101

Creditors: Amounts falling due after more than one year

6

(263,905)

(228,245)

Provisions for liabilities

(37,250)

-

Net assets

 

253,122

276,856

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Non-distributable reserve

 

117,750

155,000

Profit and loss account

135,272

121,756

Total equity

 

253,122

276,856

 

Life Dental Services Limited

(Registration number: 11121035)
Balance Sheet as at 5 April 2023 (continued)

For the financial period ending 5 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 November 2023
 

.........................................

B Hayat

Director

 

Life Dental Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 5 April 2023

1

General information

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

The address of its registered office is:
Clint Mill
Cornmarket
PENRITH
CA11 7HW

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The company has net current liabilities at 5 April 2023 and meets its day to day working capital requirements through its directors loan account facility which, in common with all such facilities, is repayable on demand. The company also makes use of a bank borrowing facility. On the basis of this support, the director considers it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its director or bankers, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

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 tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Life Dental Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 5 April 2023 (continued)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 the sale of goods 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

 

Life Dental Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 5 April 2023 (continued)

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.

Comparatives

The directors have considered the presentation of fixed assets owned and in order to present a fairer view have reclassified land owned as investment property as well as reclassifying the revaluation reserve as a non-distributable reserve. These are presentational adjustments and there has been no impact on the profit for the year or reserves brought forward.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2022 - 1).

 

Life Dental Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 5 April 2023 (continued)

4

Investment properties

£

At 1 April 2022

548,121

Additions

68,300

At 5 April 2023

616,421

The investment property has been valued at current market prices by the directors.

There has been no valuation of investment property by an independent valuer.

5

Debtors

5 April 2023
£

31 March 2022
£

Trade debtors

-

6,790

Other debtors

56,945

184,135

56,945

190,925

6

Creditors

Note

5 April 2023
£

31 March 2022
£

Due within one year

 

Loans and borrowings

8

120,395

246,947

Trade creditors

 

151

5

Taxation and social security

 

-

690

Corporation tax liability

 

15,496

18,066

Other creditors

 

2,400

2,400

 

138,442

268,108

Due after one year

 

Loans and borrowings

8

263,905

228,245

5 April 2023
£

31 March 2022
£

After more than five years by instalments

196,493

170,985

196,493

170,985

 

Life Dental Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 5 April 2023 (continued)

7

Reserves

A reconciliation of the opening and closing non-distributable reserve for the current period is as follows:

Non-distributable reserve
£

Brought forward

155,000

Transfer

-

Other movement

-

Deferred tax

(37,250)

Carried forward

117,750

 

Life Dental Services Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2022 to 5 April 2023 (continued)

8

Loans and borrowings

5 April 2023
£

31 March 2022
£

Current loans and borrowings

Bank borrowings

12,490

9,507

Other borrowings

107,905

237,440

120,395

246,947

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

5 April 2023
£

31 March 2022
£

Bank borrowings

12,490

9,507

Bank borrowings are secured by fixed and floating charges over the company's assets.

5 April 2023
£

31 March 2022
£

Non-current loans and borrowings

Bank borrowings

252,135

214,343

Other borrowings

11,770

13,902

263,905

228,245

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

5 April 2023
£

31 March 2022
£

Bank borrowings

252,135

214,343

Bank borrowings are secured by fixed and floating charges over the company's assets.