Caseware UK (AP4) 2023.0.135 2023.0.135 dental practice activities92023-04-01false10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13291596 2023-04-01 2024-02-09 13291596 2024-02-09 13291596 2022-04-01 2023-03-31 13291596 2023-03-31 13291596 c:Director3 2023-04-01 2024-02-09 13291596 d:PlantMachinery 2023-04-01 2024-02-09 13291596 d:PlantMachinery 2024-02-09 13291596 d:PlantMachinery 2023-03-31 13291596 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-02-09 13291596 d:FurnitureFittings 2023-04-01 2024-02-09 13291596 d:FurnitureFittings 2024-02-09 13291596 d:FurnitureFittings 2023-03-31 13291596 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-02-09 13291596 d:ComputerEquipment 2023-04-01 2024-02-09 13291596 d:ComputerEquipment 2024-02-09 13291596 d:ComputerEquipment 2023-03-31 13291596 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-02-09 13291596 d:OwnedOrFreeholdAssets 2023-04-01 2024-02-09 13291596 d:Goodwill 2023-04-01 2024-02-09 13291596 d:Goodwill 2024-02-09 13291596 d:Goodwill 2023-03-31 13291596 d:CurrentFinancialInstruments 2024-02-09 13291596 d:CurrentFinancialInstruments 2023-03-31 13291596 d:Non-currentFinancialInstruments 2024-02-09 13291596 d:Non-currentFinancialInstruments 2023-03-31 13291596 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-09 13291596 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13291596 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-09 13291596 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13291596 d:ShareCapital 2024-02-09 13291596 d:ShareCapital 2023-03-31 13291596 d:RetainedEarningsAccumulatedLosses 2024-02-09 13291596 d:RetainedEarningsAccumulatedLosses 2023-03-31 13291596 c:FRS102 2023-04-01 2024-02-09 13291596 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-02-09 13291596 c:FullAccounts 2023-04-01 2024-02-09 13291596 c:PrivateLimitedCompanyLtd 2023-04-01 2024-02-09 13291596 2 2023-04-01 2024-02-09 13291596 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-02-09 iso4217:GBP xbrli:pure
Registered number: 13291596













Market Place Dentistry Ltd

Financial statements
Information for filing with the registrar

9 February 2024




 
Market Place Dentistry Ltd


Balance sheet
At 9 February 2024

9 February
31 March
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
203,487
225,813

Tangible assets
 5 
121,190
127,738

  
324,677
353,551

Current assets
  

Stocks
  
1
14,316

Debtors: amounts falling due within one year
 6 
17,611
1,201

Bank and cash balances
  
110,312
249,895

  
127,924
265,412

Creditors: amounts falling due within one year
 7 
(196,662)
(420,261)

Net current liabilities
  
 
 
(68,738)
 
 
(154,849)

Total assets less current liabilities
  
255,939
198,702

Creditors: amounts falling due after more than one year
 8 
-
(97,118)

Provisions for liabilities
  

Deferred tax
  
(28,372)
(28,725)

  
 
 
(28,372)
 
 
(28,725)

Net assets
  
227,567
72,859


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
227,467
72,759

Shareholders' funds
  
227,567
72,859


1

 
Market Place Dentistry Ltd

    
Balance sheet (continued)
At 9 February 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 April 2024.




A Sharp
Director

Registered number: 13291596
The notes on pages 3 to 8 form part of these financial statements. 

2

 
Market Place Dentistry Ltd
 
 

Notes to the financial statements
Period ended 9 February 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is UNW LLP Citygate, St. James Boulevard, Newcastle Upon Tyne, Tyne And Wear, United Kingdom, NE1 4JE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

The turnover shown in the profit and loss accounts represents private dental fee income receivable during the period.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

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

3

 
Market Place Dentistry Ltd
 

 
Notes to the financial statements
Period ended 9 February 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

4

 
Market Place Dentistry Ltd
 

 
Notes to the financial statements
Period ended 9 February 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 10 (2023 - 9).

5

 
Market Place Dentistry Ltd
 
 

Notes to the financial statements
Period ended 9 February 2024

4.


Intangible assets






Goodwill

£



Cost


At 1 April 2023
255,156



At 9 February 2024

255,156



Amortisation


At 1 April 2023
29,343


Charge for the period
22,326



At 9 February 2024

51,669



Net book value



At 9 February 2024
203,487



At 31 March 2023
225,813



6

 
Market Place Dentistry Ltd
 
 

Notes to the financial statements
Period ended 9 February 2024

5.


Tangible fixed assets







Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
122,058
12,202
10,123
144,383


Additions
5,977
-
105
6,082



At 9 February 2024

128,035
12,202
10,228
150,465



Depreciation


At 1 April 2023
13,540
843
2,261
16,644


Charge for the period
9,748
1,491
1,392
12,631



At 9 February 2024

23,288
2,334
3,653
29,275



Net book value



At 9 February 2024
104,747
9,868
6,575
121,190



At 31 March 2023
108,517
11,359
7,862
127,738


6.


Debtors

9 February
31 March
2024
2023
£
£


Trade debtors
15,678
701

Other debtors
909
500

Prepayments and accrued income
1,024
-

17,611
1,201


7

 
Market Place Dentistry Ltd
 
 

Notes to the financial statements
Period ended 9 February 2024

7.


Creditors: amounts falling due within one year

9 February
31 March
2024
2023
£
£

Bank loans
-
16,893

Trade creditors
4,128
3,918

Corporation tax
61,620
20,776

Other taxation and social security
236
-

Other creditors
91,652
352,549

Accruals and deferred income
39,026
26,125

196,662
420,261



8.


Creditors: amounts falling due after more than one year

9 February
31 March
2024
2023
£
£

Bank loans
-
97,118

-
97,118


 
8