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Registration number: 06518199

The Grange Dental Surgery Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

The Grange Dental Surgery Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

The Grange Dental Surgery Ltd

Company Information

Directors

W A Cassar

P J Cassar

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

The Grange Dental Surgery Ltd

(Registration number: 06518199)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

87,500

105,000

Tangible assets

5

131,016

118,554

 

218,516

223,554

Current assets

 

Stocks

850

850

Debtors

6

96,321

111,411

Cash at bank and in hand

 

57,500

45,700

 

154,671

157,961

Creditors: Amounts falling due within one year

7

(291,961)

(270,296)

Net current liabilities

 

(137,290)

(112,335)

Total assets less current liabilities

 

81,226

111,219

Creditors: Amounts falling due after more than one year

7

(70,304)

(100,310)

Provisions for liabilities

(5,636)

(5,637)

Net assets

 

5,286

5,272

Capital and reserves

 

Called up share capital

11

100

100

Retained earnings

5,186

5,172

Shareholders' funds

 

5,286

5,272

For the financial year ending 31 May 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The Grange Dental Surgery Ltd

(Registration number: 06518199)
Balance Sheet as at 31 May 2023

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:



 

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

P J Cassar

Director

 

The Grange Dental Surgery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
Maria House
35 Millers Road
Brighton
BN1 5NP

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 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.

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.

 

The Grange Dental Surgery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

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.

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.

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:

Asset class

Depreciation method and rate

Office equipment

33% Straight line

Fixtures and fittings

25% Reducing balance

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 12 (2022 - 12).

 

The Grange Dental Surgery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2022

350,000

350,000

At 31 May 2023

350,000

350,000

Amortisation

At 1 June 2022

245,000

245,000

Amortisation charge

17,500

17,500

At 31 May 2023

262,500

262,500

Carrying amount

At 31 May 2023

87,500

87,500

At 31 May 2022

105,000

105,000

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

86,046

254,906

340,952

Additions

-

28,200

28,200

At 31 May 2023

86,046

283,106

369,152

Depreciation

At 1 June 2022

-

222,398

222,398

Charge for the year

-

15,738

15,738

At 31 May 2023

-

238,136

238,136

Carrying amount

At 31 May 2023

86,046

44,970

131,016

At 31 May 2022

86,046

32,508

118,554

Included within the net book value of land and buildings above is £80,515 (2022 - £80,515) in respect of freehold land and buildings and £5,531 (2022 - £5,531) in respect of short leasehold land and buildings.
 

 

The Grange Dental Surgery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Debtors

Current

2023
£

2022
£

Prepayments

2,535

1,024

Other debtors

93,786

110,387

 

96,321

111,411

 

The Grange Dental Surgery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

50,583

67,454

Trade creditors

 

49,262

43,360

Taxation and social security

 

185,192

151,701

Accruals and deferred income

 

5,050

5,071

Other creditors

 

1,874

2,710

 

291,961

270,296

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

70,304

100,310

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

70,304

100,310

2023
£

2022
£

Current loans and borrowings

Bank borrowings

50,583

67,454

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £1,031.50 (2022 - £3,150.11) per ordinary share

 

312,950

 

315,011

         

 

The Grange Dental Surgery Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

10

Related party transactions

Transactions with directors

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

P J Cassar

103,151

319,931

(103,150)

319,932

         
       

 

2022

At 1 June 2021
£

Advances to director
£

Repayments by director
£

At 31 May 2022
£

P J Cassar

52,011

366,151

(315,011)

103,151

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

25,733

25,516

11

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100