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Registered number: 12145296
C&N Dental Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12145296
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 148,365 171,198
Tangible Assets 5 371,306 337,978
Investments 6 214 214
519,885 509,390
CURRENT ASSETS
Stocks 7 28,600 2,881
Cash at bank and in hand 54,672 54,337
83,272 57,218
Creditors: Amounts Falling Due Within One Year 9 (124,204 ) (123,767 )
NET CURRENT ASSETS (LIABILITIES) (40,932 ) (66,549 )
TOTAL ASSETS LESS CURRENT LIABILITIES 478,953 442,841
Creditors: Amounts Falling Due After More Than One Year 10 (377,457 ) (397,906 )
NET ASSETS 101,496 44,935
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 101,494 44,933
SHAREHOLDERS' FUNDS 101,496 44,935
Page 1
Page 2
For the year ending 31 August 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
Mr C J Truman
Director
17/07/2024
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
C&N Dental Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12145296 . The registered office is 7 Smallholdings, Coity, Bridgend, CF35 6BW.
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. 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 10 years.
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:
Freehold not depreciated
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. 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.
2.6. 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.
...CONTINUED
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2.6. Taxation - continued
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 6)
7 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2022 228,329
As at 31 August 2023 228,329
Amortisation
As at 1 September 2022 57,131
Provided during the period 22,833
As at 31 August 2023 79,964
Net Book Value
As at 31 August 2023 148,365
As at 1 September 2022 171,198
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2022 316,043 31,723 1,953 1,133 350,852
Additions - 42,271 7,059 2,420 51,750
As at 31 August 2023 316,043 73,994 9,012 3,553 402,602
Depreciation
As at 1 September 2022 - 11,406 813 655 12,874
Provided during the period - 17,222 475 725 18,422
As at 31 August 2023 - 28,628 1,288 1,380 31,296
Net Book Value
As at 31 August 2023 316,043 45,366 7,724 2,173 371,306
As at 1 September 2022 316,043 20,317 1,140 478 337,978
Page 4
Page 5
6. Investments
Unlisted
£
Cost
As at 1 September 2022 214
As at 31 August 2023 214
Provision
As at 1 September 2022 -
As at 31 August 2023 -
Net Book Value
As at 31 August 2023 214
As at 1 September 2022 214
7. Stocks
2023 2022
£ £
Stock 28,600 2,881
8. Debtors
2023 2022
£ £
Due within one year
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 27,143 12,834
Bank loans and overdrafts 18,794 20,405
Other creditors 68,294 71,320
Taxation and social security 9,973 19,208
124,204 123,767
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 377,457 397,906
377,457 397,906
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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