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Registered number: 08186085
Town Hall Dental Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Ortu Advisors Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08186085
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 85,633 107,679
Investments 5 123,500 -
209,133 107,679
CURRENT ASSETS
Stocks 6 25,000 25,000
Debtors 7 359,676 393,425
Cash at bank and in hand 92,609 69,543
477,285 487,968
Creditors: Amounts Falling Due Within One Year 8 (268,923 ) (242,923 )
NET CURRENT ASSETS (LIABILITIES) 208,362 245,045
TOTAL ASSETS LESS CURRENT LIABILITIES 417,495 352,724
Creditors: Amounts Falling Due After More Than One Year 9 (323,454 ) (256,909 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,139 ) (20,139 )
NET ASSETS 73,902 75,676
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 73,802 75,576
SHAREHOLDERS' FUNDS 73,902 75,676
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Imran Rangzeb
Director
Mrs Naseema Khanam
Director
25/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Town Hall Dental Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08186085 . The registered office is Landmark House Station Road, Cheadle Hulme, Cheadle, Greater Manchester, SK8 7BS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10%
Plant & Machinery 10%
Fixtures & Fittings 25%
Computer Equipment 10%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2022: 13)
13 13
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 85,575 217,157 99,056 - 401,788
Additions - 12,762 - 1,044 13,806
As at 31 October 2023 85,575 229,919 99,056 1,044 415,594
Depreciation
As at 1 November 2022 73,560 134,037 86,512 - 294,109
Provided during the period 8,558 23,009 4,181 104 35,852
As at 31 October 2023 82,118 157,046 90,693 104 329,961
Net Book Value
As at 31 October 2023 3,457 72,873 8,363 940 85,633
As at 1 November 2022 12,015 83,120 12,544 - 107,679
5. Investments
Unlisted
£
Cost
As at 1 November 2022 -
Additions 123,500
As at 31 October 2023 123,500
Provision
As at 1 November 2022 -
As at 31 October 2023 -
Net Book Value
As at 31 October 2023 123,500
As at 1 November 2022 -
6. Stocks
2023 2022
£ £
Total stock 25,000 25,000
Page 4
Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 5,000 93,516
Other Debtor 354,676 299,909
359,676 393,425
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 50,076 50,178
Bank loans and overdrafts - 81
Corporation tax 23,721 36,192
Net wages 652 -
Other Creditors - Intercompany 187,952 114,744
PAYE and NIC 6,189 17,948
Pensions Payable 333 772
Other Creditors - 23,008
268,923 242,923
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Trade creditors 155,591 155,591
Bank loans 155,167 86,043
Hire purchase and finance lease agreement 12,696 15,275
323,454 256,909
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 5