Acorah Software Products - Accounts Production 15.0.500 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 09677541 Mr M Tulone iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09677541 2022-10-31 09677541 2023-10-31 09677541 2022-11-01 2023-10-31 09677541 frs-core:CurrentFinancialInstruments 2023-10-31 09677541 frs-core:Non-currentFinancialInstruments 2023-10-31 09677541 frs-core:NetGoodwill 2023-10-31 09677541 frs-core:NetGoodwill 2022-11-01 2023-10-31 09677541 frs-core:NetGoodwill 2022-10-31 09677541 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 09677541 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 09677541 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-10-31 09677541 frs-core:PlantMachinery 2023-10-31 09677541 frs-core:PlantMachinery 2022-11-01 2023-10-31 09677541 frs-core:PlantMachinery 2022-10-31 09677541 frs-core:ShareCapital 2023-10-31 09677541 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 09677541 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09677541 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 09677541 frs-bus:SmallEntities 2022-11-01 2023-10-31 09677541 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09677541 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09677541 frs-bus:Director1 2022-11-01 2023-10-31 09677541 frs-countries:EnglandWales 2022-11-01 2023-10-31 09677541 2021-10-31 09677541 2022-10-31 09677541 2021-11-01 2022-10-31 09677541 frs-core:CurrentFinancialInstruments 2022-10-31 09677541 frs-core:Non-currentFinancialInstruments 2022-10-31 09677541 frs-core:PlantMachinery 2021-11-01 2022-10-31 09677541 frs-core:ShareCapital 2022-10-31 09677541 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 09677541
Watercress Dental Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Synergy Accountancy Services LLP
Chartered Certified Accountants
378 Walsall Road
Perry Barr
Birmingham
B42 2LX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09677541
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 124,674 155,842
Tangible Assets 5 52,361 61,230
177,035 217,072
CURRENT ASSETS
Stocks 6 9,000 4,000
Debtors 7 810 19,209
Cash at bank and in hand 29,837 34,142
39,647 57,351
Creditors: Amounts Falling Due Within One Year 8 (70,407 ) (76,490 )
NET CURRENT ASSETS (LIABILITIES) (30,760 ) (19,139 )
TOTAL ASSETS LESS CURRENT LIABILITIES 146,275 197,933
Creditors: Amounts Falling Due After More Than One Year 9 (90,809 ) (132,407 )
NET ASSETS 55,466 65,526
CAPITAL AND RESERVES
Called up share capital 11 10 10
Profit and Loss Account 55,456 65,516
SHAREHOLDERS' FUNDS 55,466 65,526
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr M Tulone
Director
24 July 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Watercress Dental Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09677541 . The registered office is 1 St. Marys Close, Alton, Hampshire, GU34 1EF.
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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10years.
2.4. 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:
Leasehold 15% on reducing balance
Plant & Machinery 15% on reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
Page 3
Page 4
2.7. Taxation
The tax currently payable is based on taxable profit for the year. 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 asset reflects 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 311,684
As at 31 October 2023 311,684
Amortisation
As at 1 November 2022 155,842
Provided during the period 31,168
As at 31 October 2023 187,010
Net Book Value
As at 31 October 2023 124,674
As at 1 November 2022 155,842
Page 4
Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 November 2022 1,481 105,662 107,143
Additions - 1,878 1,878
As at 31 October 2023 1,481 107,540 109,021
Depreciation
As at 1 November 2022 844 45,069 45,913
Provided during the period 136 10,611 10,747
As at 31 October 2023 980 55,680 56,660
Net Book Value
As at 31 October 2023 501 51,860 52,361
As at 1 November 2022 637 60,593 61,230
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Plant & Machinery 18,155 19,204
6. Stocks
2023 2022
£ £
Stock 9,000 4,000
7. Debtors
2023 2022
£ £
Due within one year
Other debtors 810 19,209
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 19,600 19,600
Other loans 5,422 5,422
Other creditors 24,293 32,116
Taxation and social security 21,092 19,352
70,407 76,490
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 80,995 117,171
Other loans 9,814 15,236
90,809 132,407
10. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 100,595 136,771
Other Creditors 15,236 20,658
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 10 10
Page 6