Silverfin false 30/04/2023 01/05/2022 30/04/2023 Kieron Khoorbhoor 03/03/2008 31 January 2024 The principal activity of the Company during the financial year was dental services. 06520152 2023-04-30 06520152 bus:Director1 2023-04-30 06520152 2022-04-30 06520152 core:CurrentFinancialInstruments 2023-04-30 06520152 core:CurrentFinancialInstruments 2022-04-30 06520152 core:Non-currentFinancialInstruments 2023-04-30 06520152 core:Non-currentFinancialInstruments 2022-04-30 06520152 core:ShareCapital 2023-04-30 06520152 core:ShareCapital 2022-04-30 06520152 core:RetainedEarningsAccumulatedLosses 2023-04-30 06520152 core:RetainedEarningsAccumulatedLosses 2022-04-30 06520152 core:Goodwill 2022-04-30 06520152 core:Goodwill 2023-04-30 06520152 core:LandBuildings 2022-04-30 06520152 core:LeaseholdImprovements 2022-04-30 06520152 core:PlantMachinery 2022-04-30 06520152 core:Vehicles 2022-04-30 06520152 core:FurnitureFittings 2022-04-30 06520152 core:ComputerEquipment 2022-04-30 06520152 core:LandBuildings 2023-04-30 06520152 core:LeaseholdImprovements 2023-04-30 06520152 core:PlantMachinery 2023-04-30 06520152 core:Vehicles 2023-04-30 06520152 core:FurnitureFittings 2023-04-30 06520152 core:ComputerEquipment 2023-04-30 06520152 2022-05-01 2023-04-30 06520152 bus:FullAccounts 2022-05-01 2023-04-30 06520152 bus:SmallEntities 2022-05-01 2023-04-30 06520152 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 06520152 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 06520152 bus:Director1 2022-05-01 2023-04-30 06520152 core:Goodwill core:TopRangeValue 2022-05-01 2023-04-30 06520152 core:Goodwill 2022-05-01 2023-04-30 06520152 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 06520152 core:LeaseholdImprovements core:TopRangeValue 2022-05-01 2023-04-30 06520152 core:PlantMachinery 2022-05-01 2023-04-30 06520152 core:Vehicles 2022-05-01 2023-04-30 06520152 core:FurnitureFittings 2022-05-01 2023-04-30 06520152 core:ComputerEquipment core:TopRangeValue 2022-05-01 2023-04-30 06520152 2021-05-01 2022-04-30 06520152 core:LandBuildings 2022-05-01 2023-04-30 06520152 core:LeaseholdImprovements 2022-05-01 2023-04-30 06520152 core:ComputerEquipment 2022-05-01 2023-04-30 06520152 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 06520152 (England and Wales)

HOOK LANE PRACTICE LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

HOOK LANE PRACTICE LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

HOOK LANE PRACTICE LIMITED

BALANCE SHEET

As at 30 April 2023
HOOK LANE PRACTICE LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 107,495
Tangible assets 4 672,851 607,707
672,851 715,202
Current assets
Stocks 5 5,000 5,000
Debtors 6 279,271 83,073
Cash at bank and in hand 225,988 398,423
510,259 486,496
Creditors: amounts falling due within one year 7 ( 204,465) ( 219,089)
Net current assets 305,794 267,407
Total assets less current liabilities 978,645 982,609
Creditors: amounts falling due after more than one year 8 ( 722,922) ( 756,583)
Provision for liabilities 9 ( 18,994) 0
Net assets 236,729 226,026
Capital and reserves
Called-up share capital 500 500
Profit and loss account 236,229 225,526
Total shareholders' funds 236,729 226,026

For the financial year ending 30 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 financial statements of Hook Lane Practice Limited (registered number: 06520152) were approved and authorised for issue by the Director on 31 January 2024. They were signed on its behalf by:

Kieron Khoorbhoor
Director
HOOK LANE PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
HOOK LANE PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hook Lane Practice Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 15 Hook Lane, Welling, DA16 2DH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Leasehold improvements 50 years straight line
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

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

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

Defined contribution pension obligation

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 payments obligations.

The contributions are recognised as an expense in the profit and loss account 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 17 15

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2022 671,840 671,840
At 30 April 2023 671,840 671,840
Accumulated amortisation
At 01 May 2022 564,345 564,345
Charge for the financial year 107,495 107,495
At 30 April 2023 671,840 671,840
Net book value
At 30 April 2023 0 0
At 30 April 2022 107,495 107,495

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 May 2022 444,442 138,223 280,652 0 27,611 28,230 919,158
Additions 0 0 40,155 58,090 2,450 1,339 102,034
At 30 April 2023 444,442 138,223 320,807 58,090 30,061 29,569 1,021,192
Accumulated depreciation
At 01 May 2022 26,667 7,842 232,537 0 18,443 25,962 311,451
Charge for the financial year 8,888 2,764 17,644 3,873 1,743 1,978 36,890
At 30 April 2023 35,555 10,606 250,181 3,873 20,186 27,940 348,341
Net book value
At 30 April 2023 408,887 127,617 70,626 54,217 9,875 1,629 672,851
At 30 April 2022 417,775 130,381 48,115 0 9,168 2,268 607,707
Leased assets included above:
Net book value
At 30 April 2023 0 0 0 54,217 0 0 54,217
At 30 April 2022 0 0 0 0 0 0 0

Included within the net book value of land and buildings above is £408,887 (2022 - £417,775) in respect of freehold land and buildings.

5. Stocks

2023 2022
£ £
Stocks 5,000 5,000

6. Debtors

2023 2022
£ £
Trade debtors 34,702 39,650
Other debtors 244,569 43,423
279,271 83,073

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 57,002 57,880
Trade creditors 84,940 50,246
Taxation and social security 28,827 54,954
Obligations under finance leases and hire purchase contracts 10,701 4,176
Other creditors 22,995 51,833
204,465 219,089

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 669,647 741,112
Obligations under finance leases and hire purchase contracts (secured) 52,047 11,831
Other creditors 1,228 3,640
722,922 756,583

The company has secured bank borrowings totalling £695,639 (2022: £757,259). The security granted is a fixed and floating charge over the property.

Amounts falling due within one year are £57,002 (2022: £57,002), within two to five years are £218,862 (2022: £218,862) and over five years are £450,785 (2022: £522,249).

Hire purchase and finance lease loans are secured on the assets to which the loans relate.

9. Provision for liabilities

2023 2022
£ £
Deferred tax 18,994 0

10. Related party transactions

Transactions with the entity's director

2023 2022
£ £
K Khoorbhoor 26,333 41,467

Director's loan repayable on demand. Interest payable at the HMRC authorised rate. The total amount advanced to the director was £50,467 (2022: £45,396) and the total amount repaid by the director was £65,601 (2022: £29,494).

11. Off Balance Sheet arrangements

The total amount of financial commitments not included in the balance sheet is £9,204 (2022 : £2,075). The company has non-cancellable operating leases in respect of equipment and vehicles with £4,602 (2022 : £2,075) due within one year, £4,602 (2022 : £0) due within one to two years.