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COMPANY REGISTRATION NUMBER: 11550500
Antwerp Dental Group Ltd
Unaudited financial statements
31 March 2023
Antwerp Dental Group Ltd
Statement of financial position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
139,680
Investments
6
1,030,986
-----------
----
1,170,666
Current assets
Debtors
7
60,750
Cash at bank and in hand
775
2
-------
----
61,525
2
Creditors: Amounts falling due within one year
8
( 449,567)
---------
----
Net current (liabilities)/assets
( 388,042)
2
-----------
----
Total assets less current liabilities
782,624
2
Creditors: Amounts falling due after more than one year
9
( 830,025)
Provisions
Taxation including deferred tax
( 26,839)
---------
----
Net (liabilities)/assets
( 74,240)
2
---------
----
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 74,242)
-------
----
Shareholders (deficit)/funds
( 74,240)
2
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Antwerp Dental Group Ltd
Statement of financial position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 23 August 2024 , and are signed on behalf of the board by:
Mr R Wadhwani
Director
Company registration number: 11550500
Antwerp Dental Group Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lovewell Blake LLP, Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE. The company's places of business are Abbey Dental Practice, 11 Angel Hill, Bury St Edmunds, Suffolk, IP33 1UZ and Woolpit, The St, Woolpit, Bury St Edmunds, Suffolk, IP30 9SA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements, estimations and uncertainties have arisen in the preparation of the financial statements.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Finance leases and hire purchase contracts
Assets held under hire purchase contract are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the income statement on a reducing balance basis.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Employee numbers
The average number of employees during the year was 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
Additions
3,942
1,320
137,345
142,607
------
------
---------
---------
At 31 March 2023
3,942
1,320
137,345
142,607
------
------
---------
---------
Depreciation
At 1 April 2022
Charge for the year
66
2,861
2,927
------
------
---------
---------
At 31 March 2023
66
2,861
2,927
------
------
---------
---------
Carrying amount
At 31 March 2023
3,942
1,254
134,484
139,680
------
------
---------
---------
At 31 March 2022
------
------
---------
---------
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 March 2023
134,484
---------
At 31 March 2022
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2022
Additions
1,030,986
-----------
At 31 March 2023
1,030,986
-----------
Impairment
At 1 April 2022 and 31 March 2023
-----------
Carrying amount
At 31 March 2023
1,030,986
-----------
At 31 March 2022
-----------
Shares in group undertakings relate to the ownership of 100% of the share capital of Whiter Dental Ltd, Bandenburg Sachs Ltd and RL & HD Pilcher Ltd.
The bank loan is secured on various assets owned by the company and it's related parties.
7. Debtors
2023
2022
£
£
Other debtors
60,750
-------
----
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
38,703
Other creditors
410,864
---------
----
449,567
---------
----
Included in other creditors is an amount of £37,518 (2022: nil) for hire purchase liabilities which are secured on the assets concerned.
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
741,644
Other creditors
88,381
---------
----
830,025
---------
----
Included within creditors: amounts falling due after more than one year is an amount of £567,257 (2022: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Other creditors of £88,381 is for hire purchase liabilities due which are secured on the assets concerned.
10. Related party transactions
Trumpington St Dental Practice Ltd is a related party due to the fact that Mr R Wadhwani is also a shareholder and director of this company. The company has a balance payable to Antwerp Dental Group Ltd of £5,000 (2022: nil). Antwerp Property Holdings Ltd is a related party due to the fact that Mr R Wadhwani and Mrs R Wadhwani are also shareholders and directors of this company. The company owes Antwerp Dental Group Ltd £38,147 (2022: nil).