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Registered Number: 09836039
England and Wales

 

 

 

CREDENCE DENTAL CARE LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2022

End date: 31 October 2023
Directors Siddharth Wandrekar
Fatema Dabhiya
Registered Number 09836039
Registered Office Brunel Dental Practice
43a Faringdon Road
Swindon
Wiltshire
SN1 5AR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 October 2023
Principal activities
The companys principal activity during the year was the provision of oral and ancillary healthcare services.
Directors
The directors who served the company throughout the period were as follows:
Siddharth Wandrekar
Fatema Dabhiya
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Siddharth Wandrekar
Director

Date approved: 31 July 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Credence Dental Care Ltd. for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Credence Dental Care Ltd. for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Credence Dental Care Ltd. , as a body, in accordance with the terms of our engagement letter dated 31 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of Credence Dental Care Ltd. and state those matters that we have agreed to state to the Board of Directors of Credence Dental Care Ltd. , 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 Credence Dental Care Ltd. and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Credence Dental Care Ltd. 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 Credence Dental Care Ltd. . You consider that Credence Dental Care Ltd. is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Credence Dental Care Ltd. . 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
31 October 2023



....................................................
S J Mayled Ltd t/a Stephen Mayled & Associates
Suite G2 The Business Centre
Cardiff House, Cardiff Road
Barry
Vale of Glamorgan
CF63 2AW
31 July 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 524,458    540,350 
Tangible fixed assets 4 431,150    153,842 
Investments 5 375,470   
1,331,078    694,192 
Current assets      
Stocks 6 3,107    8,471 
Debtors 7 190,130    170,100 
Cash at bank and in hand 390,842    347,083 
584,079    525,654 
Creditors: amount falling due within one year 8 (157,293)   (141,593)
Net current assets 426,786    384,061 
 
Total assets less current liabilities 1,757,864    1,078,253 
Creditors: amount falling due after more than one year 9 (978,812)   (419,737)
Accruals and deferred income (7,550)   (20,620)
Provisions for liabilities 10 (33,555)   (30,419)
Net assets 737,947    607,477 
 

Capital and reserves
     
Called up share capital 11 100    100 
Profit and loss account 737,847    607,377 
Shareholders' funds 737,947    607,477 
 


For the period ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 July 2024 and were signed on its behalf by:


-------------------------------
Siddharth Wandrekar
Director
4
General Information
Credence Dental Care Ltd. is a private company, limited by shares, registered in England and Wales, registration number 09836039, registration address Brunel Dental Practice, 43a Faringdon Road, Swindon, Wiltshire, SN1 5AR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 40 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant & Machinery - 10% on reducing balance
Motor Vehicles - 25% on reducing balance

Plant and Machinery 10% Reducing Balance
Motor Vehicles 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 8 (2022 : 8).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2022 635,707    635,707 
Additions  
Disposals  
At 31 October 2023 635,707    635,707 
Amortisation
At 01 October 2022 95,357    95,357 
Charge for period 15,892    15,892 
On disposals  
At 31 October 2023 111,249    111,249 
Net book values
At 31 October 2023 524,458    524,458 
At 30 September 2022 540,350    540,350 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Total
  £   £   £   £
At 01 October 2022 1    151,903    63,690    215,594 
Additions 300,000        300,000 
Disposals      
At 31 October 2023 300,001    151,903    63,690    515,594 
Depreciation
At 01 October 2022   45,676    16,076    61,752 
Charge for period   10,635    12,057    22,692 
On disposals      
At 31 October 2023   56,311    28,133    84,444 
Net book values
Closing balance as at 31 October 2023 300,001    95,592    35,557    431,150 
Opening balance as at 01 October 2022 1    106,227    47,614    153,842 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 October 2022  
Additions 375,470    375,470 
Transfer to/from tangible fixed assets  
Disposals  
At 31 October 2023 375,470    375,470 

6.

Stocks

2023
£
  2022
£
Stocks 3,107    8,471 
3,107    8,471 

7.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 20,030   
20,030   

7.

Debtors: amounts falling due after one year

2023
£
  2022
£
Other Debtors 170,100    170,100 
170,100    170,100 

8.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 19,743    11,850 
Bank Loans & Overdrafts 27,387    66,827 
Corporation Tax 64,612    29,687 
PAYE & Social Security 2,175    1,740 
Accrued Expenses   9,876 
Other Creditors 327    12,108 
Obligations under HP/Financial Leases 43,049    9,505 
157,293    141,593 

9.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 641,574   
Bank Loans & Overdrafts 337,238    352,169 
Obligations Under HP/Financial Leases   50,152 
Directors' Loan Accounts   17,416 
978,812    419,737 

10.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 29,230    29,230 
Pension Provisions 4,325    1,189 
33,555    30,419 

11.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

12.

Ultimate Controlling Party

During the year, the company became a wholly owned subsidiary of Desroches Management Ltd, company number 15228900.
13.

Financial Commitments , guarantees and contingencies

The following three charges are registered with the Royal Bank of Scotland Plc:

1) December 2015 - Fixed and floating charge covering all the property/undertaking of the company
2) September 2016 - Fixed charge over the ground floor and part of the 1st floor & 2nd floor of 43 Faringdon Road in Swindon
3) September 2016 -  - Fixed charge over ground, 1st and 2nd floors of 43 Faringdon Road in Swindon
5