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REGISTERED NUMBER: 05887704 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

E. LAZANAKIS LIMITED
TRADING AS
SUSSEX DENTAL GROUP

E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,024,438 2,174,637
2,024,438 2,174,637

CURRENT ASSETS
Stocks 33,000 28,500
Debtors 6 1,175,922 972,426
Cash at bank 221,346 97,342
1,430,268 1,098,268
CREDITORS
Amounts falling due within one year 7 (597,100 ) (333,537 )
NET CURRENT ASSETS 833,168 764,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,857,606

2,939,368

CREDITORS
Amounts falling due after more than one
year

8

(1,960,695

)

(2,048,367

)

PROVISIONS FOR LIABILITIES (470,000 ) (534,000 )
NET ASSETS 426,911 357,001

CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Retained earnings 424,411 354,501
SHAREHOLDERS' FUNDS 426,911 357,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

BALANCE SHEET - continued
31 MARCH 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





E Lazanakis - Director


E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

E.Lazanakis Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and primary place of business can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable in respect of dental services rendered.

Goodwill
Goodwill, being the amount paid in connection with a dental surgery in 2007, is being amortised evenly over its estimated useful life of 10 years.

On 1 May 2011 the company acquired three further surgeries. This goodwill is also being amortised over 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - over the term of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - over the term of the lease

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2023 - 47 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 2,226,500
AMORTISATION
At 1 April 2023
and 31 March 2024 2,226,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 1 April 2023 1,492,573 666,718 650,756 129,014 2,939,061
Additions - 5,366 17,581 964 23,911
At 31 March 2024 1,492,573 672,084 668,337 129,978 2,962,972
DEPRECIATION
At 1 April 2023 171,995 221,362 333,780 37,287 764,424
Charge for year 29,851 53,171 80,698 10,390 174,110
At 31 March 2024 201,846 274,533 414,478 47,677 938,534
NET BOOK VALUE
At 31 March 2024 1,290,727 397,551 253,859 82,301 2,024,438
At 31 March 2023 1,320,578 445,356 316,976 91,727 2,174,637

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 403,591 192,804
Amounts owed by group undertakings 699,834 705,114
Other debtors 72,497 74,508
1,175,922 972,426

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 48,044 46,477
Trade creditors 324,359 242,976
Taxation and social security 165,345 -
Other creditors 59,352 44,084
597,100 333,537

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,674,951 1,709,732
Hire purchase contracts (see note 9) 134,337 183,892
Other creditors 151,407 154,743
1,960,695 2,048,367

E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 135,000 135,562

Repayable by instalments
Bank loans more 5 yr by instal 1,674,951 1,709,732

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 58,495 60,214
Between one and five years 150,730 210,736
209,225 270,950

Finance charges repayable:
Within one year 10,451 13,737
Between one and five years 16,393 26,844
26,844 40,581

Net obligations repayable:
Within one year 48,044 46,477
Between one and five years 134,337 183,892
182,381 230,369

Non-cancellable operating leases
2024 2023
£    £   
Within one year 40,145 40,145
Between one and five years 160,580 160,580
In more than five years 511,849 551,994
712,574 752,719

E. LAZANAKIS LIMITED (REGISTERED NUMBER: 05887704)
TRADING AS SUSSEX DENTAL GROUP

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,674,951 1,709,732

The bank loans are secured by fixed and floating charges over the company's assets, and by personal guarantee issued by the directors.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
E Lazanakis
Balance outstanding at start of year (6,991 ) 70,377
Amounts advanced 354,495 289,640
Amounts repaid (348,216 ) (367,008 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (712 ) (6,991 )