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REGISTRAR OF COMPANIES

Registration number: 06127195

Brundholme Dental Practice Limited

Unaudited Financial Statements

31 March 2024

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Brundholme Dental Practice Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Brundholme Dental Practice Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Brundholme Dental Practice Limited for the year ended 31 March 2024 as set out on pages 2 to 11 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Brundholme Dental Practice Limited, as a body, in accordance with the terms of our engagement letter dated 15 August 2022. Our work has been undertaken solely to prepare for your approval the accounts of Brundholme Dental Practice Limited and state those matters that we have agreed to state to the Board of Directors of Brundholme Dental Practice Limited, 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 Brundholme Dental Practice Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Brundholme Dental Practice Limited 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 Brundholme Dental Practice Limited. You consider that Brundholme Dental Practice Limited 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 Brundholme Dental Practice Limited. 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.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

11 July 2024

 

Brundholme Dental Practice Limited

(Registration number: 06127195)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

27,096

54,191

Tangible assets

5

32,769

33,762

 

59,865

87,953

Current assets

 

Stocks

38,055

34,113

Debtors

6

267,433

191,083

Cash at bank and in hand

 

75,715

97,698

 

381,203

322,894

Creditors: Amounts falling due within one year

7

(115,759)

(116,855)

Net current assets

 

265,444

206,039

Total assets less current liabilities

 

325,309

293,992

Creditors: Amounts falling due after more than one year

7

(206)

(1,506)

Provisions for liabilities

(7,823)

(8,343)

Net assets

 

317,280

284,143

Capital and reserves

 

Allotted, called up and fully paid share capital

2,000

2,000

Profit and loss account

315,280

282,143

Total equity

 

317,280

284,143

 

Brundholme Dental Practice Limited

(Registration number: 06127195)
Balance Sheet as at 31 March 2024 (continued)

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 July 2024 and signed on its behalf by:
 

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

J S W Breedon

Director

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

C Hill

Director

 

Brundholme Dental Practice Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Blencathra Street
KESWICK
CA12 4HP

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and released to profit over the expected useful lives of the the relevant assets by equal annual instalments, to match the related depreciation charge.

Grants of a revenue are credited to income so as to match them with the expenditure to which they relate.

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.

 

Brundholme Dental Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and equipment

15% reducing balance

Motor vehicles

20% reducing balance basis

Furniture, fittings and office equipment

15% reducing balance and 3 years straight line

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 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

10 years straight line basis

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.

 

Brundholme Dental Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or 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.

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. Trade creditors 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 where due after more than one year.

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.

 

Brundholme Dental Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 14).

 

Brundholme Dental Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

416,899

416,899

At 31 March 2024

416,899

416,899

Amortisation

At 1 April 2023

362,708

362,708

Amortisation charge

27,095

27,095

At 31 March 2024

389,803

389,803

Carrying amount

At 31 March 2024

27,096

27,096

At 31 March 2023

54,191

54,191

5

Tangible assets

Plant and equipment
 £

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 April 2023

132,141

2,922

21,575

156,638

Additions

2,684

4,289

-

6,973

Disposals

-

(2,922)

-

(2,922)

At 31 March 2024

134,825

4,289

21,575

160,689

Depreciation

At 1 April 2023

103,061

195

19,620

122,876

Charge for the year

4,588

903

293

5,784

Eliminated on disposal

-

(740)

-

(740)

At 31 March 2024

107,649

358

19,913

127,920

Carrying amount

At 31 March 2024

27,176

3,931

1,662

32,769

At 31 March 2023

29,080

2,727

1,955

33,762

 

Brundholme Dental Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Debtors

2024
£

2023
£

Trade debtors

2,795

8,674

Other debtors

264,638

182,409

267,433

191,083

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,265

2,167

Trade creditors

 

39,632

39,715

Taxation and social security

 

4,841

3,152

Corporation tax liability

 

66,606

70,574

Other creditors

 

3,415

1,247

 

115,759

116,855

Due after one year

 

Loans and borrowings

8

-

1,265

Other creditors

 

206

241

 

206

1,506

 

Brundholme Dental Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Finance lease liabilities

1,265

2,167

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Finance lease liabilities

1,265

2,167

Finance lease liabilities are secured on the assets to which they relate.

2024
£

2023
£

Non-current loans and borrowings

Finance lease liabilities

-

1,265

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2024
£

2023
£

Finance lease liabilities

-

1,265

Finance lease liabilities are secured on the assets to which they relate.

 

Brundholme Dental Practice Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

9

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 March 2024
£

C Hill

Director loan

103,455

33,842

(11,059)

-

-

2,645

128,883

               
         

J S W Breedon

Directors loan

33,531

38,787

(4,080)

-

-

1,088

69,326

               
         

 

2023

At 1 April 2022
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 March 2023
£

C Hill

Director loan

64,577

41,116

(3,856)

-

-

1,618

103,455

               
         

J S W Breedon

Directors loan

107

35,365

(2,137)

-

-

196

33,531

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2% to 5 April 2023 and 2.25% thereafter on advances to directors.