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Registration number: 05981607

St Andrews Dental Centre Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

St Andrews Dental Centre Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

St Andrews Dental Centre Limited

Company Information

Director

J Rawcliffe

Company secretary

J Rawcliffe

Registered office

339 Hessle Road
Hull
East Yorkshire
HU3 4EJ

 

St Andrews Dental Centre Limited

(Registration number: 05981607)
Balance Sheet as at 31 January 2024

2024
£

2023
£

Fixed assets

Intangible assets

17,371

23,327

Tangible assets

217,051

210,836

234,422

234,163

Current assets

Stocks

15,000

13,703

Debtors

40,467

31,032

Cash at bank and in hand

27,567

47,774

83,034

92,509

Creditors: Amounts falling due within one year

(16,907)

(17,242)

Net current assets

66,127

75,267

Total assets less current liabilities

300,549

309,430

Provisions for liabilities

(27,685)

(5,651)

Net assets

272,864

303,779

Capital and reserves

Called up share capital

1,000

1,000

Other reserves

115,116

115,116

Retained earnings

156,748

187,663

Shareholders' funds

272,864

303,779

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 July 2024
 

.........................................

J Rawcliffe

Company secretary and director

 

St Andrews Dental Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital incorporated in England and the company registration number is 05981607.

The address of its registered office is:
339 Hessle Road
Hull
East Yorkshire
HU3 4EJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of dentistry services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

St Andrews Dental Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on reducing balance

Equipment, fixtures and fittings

15% on reducing balance

Plant and machinery

15% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for dental services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

St Andrews Dental Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

St Andrews Dental Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 5 (2023 - 5).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

119,120

119,120

At 31 January 2024

119,120

119,120

Amortisation

At 1 February 2023

95,793

95,793

Amortisation charge

5,956

5,956

At 31 January 2024

101,749

101,749

Carrying amount

At 31 January 2024

17,371

17,371

At 31 January 2023

23,327

23,327

 

St Andrews Dental Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

175,000

10,988

232,015

418,003

Additions

-

-

13,340

13,340

Disposals

-

-

(174)

(174)

At 31 January 2024

175,000

10,988

245,181

431,169

Depreciation

At 1 February 2023

-

10,328

196,839

207,167

Charge for the year

-

494

6,590

7,084

Eliminated on disposal

-

-

(133)

(133)

At 31 January 2024

-

10,822

203,296

214,118

Carrying amount

At 31 January 2024

175,000

166

41,885

217,051

At 31 January 2023

175,000

660

35,176

210,836

Included within the net book value of land and buildings above is £175,000 (2023 - £175,000) in respect of long leasehold land and buildings.
 

The fair value of long leasehold land and buildings was revalued by an independant valuer on 31 January 2021.

6

Stocks

2024
£

2023
£

Other inventories

15,000

13,703

7

Debtors

2024
£

2023
£

Trade debtors

22,954

24,234

Other debtors

16,974

6,312

Prepayments

539

486

40,467

31,032

 

St Andrews Dental Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

153

Trade creditors

 

11,381

6,215

Taxation and social security

 

-

5,812

Accruals and deferred income

 

4,342

4,013

Other creditors

 

1,184

1,049

 

16,907

17,242

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Obligations under hire purchase and finance lease arrangements

-

153

The bank borrowings and obligations under hire purchase contracts are secured on the asset they relate to.

10

Related party transactions

Transactions with the Director

2024

At 1 February 2023
£

Advances to Director
£

Repayments by Director
£

At 31 January 2024
£

J Rawcliffe

Interest free loan, repayable on demand

5,447

16,635

(6,670)

15,412

         
       

 

Other transactions with directors

At the year end, the Director owed the company £15,412 (2023: £5,447). The amount is unsecured, interest-free and repayable on demand