8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 616,316 61,632 61,631 123,263 493,053 554,684 25,516 16,842 5,000 37,358 5,103 6,651 1,000 10,754 26,604 20,413 xbrli:pure xbrli:shares iso4217:GBP 14155018 2023-07-01 2024-06-30 14155018 2024-06-30 14155018 2023-06-30 14155018 2022-06-07 2023-06-30 14155018 2023-06-30 14155018 2022-06-06 14155018 core:NetGoodwill 2023-07-01 2024-06-30 14155018 core:FurnitureFittings 2023-07-01 2024-06-30 14155018 bus:Director1 2023-07-01 2024-06-30 14155018 bus:Director2 2023-07-01 2024-06-30 14155018 core:NetGoodwill 2023-06-30 14155018 core:NetGoodwill 2024-06-30 14155018 core:FurnitureFittings 2023-06-30 14155018 core:FurnitureFittings 2024-06-30 14155018 core:WithinOneYear 2024-06-30 14155018 core:WithinOneYear 2023-06-30 14155018 core:ShareCapital 2024-06-30 14155018 core:ShareCapital 2023-06-30 14155018 core:RetainedEarningsAccumulatedLosses 2024-06-30 14155018 core:RetainedEarningsAccumulatedLosses 2023-06-30 14155018 core:NetGoodwill 2023-06-30 14155018 core:FurnitureFittings 2023-06-30 14155018 bus:SmallEntities 2023-07-01 2024-06-30 14155018 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14155018 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14155018 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14155018 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 14155018
V&S Dental Limited
Filleted Unaudited Financial Statements
30 June 2024
V&S Dental Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
493,053
554,684
Tangible assets
6
26,604
20,413
---------
---------
519,657
575,097
Current assets
Stocks
6,300
5,344
Debtors
7
18,909
18,904
Cash at bank and in hand
56,061
47,375
--------
--------
81,270
71,623
Creditors: amounts falling due within one year
8
628,376
691,456
---------
---------
Net current liabilities
547,106
619,833
---------
---------
Total assets less current liabilities
( 27,449)
( 44,736)
Provisions
6,651
5,103
--------
--------
Net liabilities
( 34,100)
( 49,839)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 34,200)
( 49,939)
--------
--------
Shareholders deficit
( 34,100)
( 49,839)
--------
--------
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 statement of comprehensive income has not been delivered.
For the year ending 30 June 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 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 .
V&S Dental Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Mr V Malde
Miss S Malde
Director
Director
Company registration number: 14155018
V&S Dental Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Kenton Road, Harrow, HA3 0AN, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue from the sale of services is recognised when the significant risks and rewards of ownership of the services have transferred to the customer, usually on completion of the service, the amount of revenue can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 7 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
616,316
---------
Amortisation
At 1 July 2023
61,632
Charge for the year
61,631
---------
At 30 June 2024
123,263
---------
Carrying amount
At 30 June 2024
493,053
---------
At 30 June 2023
554,684
---------
6. Tangible assets
Fixtures and fittings
£
Cost
At 1 July 2023
25,516
Additions
16,842
Disposals
( 5,000)
--------
At 30 June 2024
37,358
--------
Depreciation
At 1 July 2023
5,103
Charge for the year
6,651
Disposals
( 1,000)
--------
At 30 June 2024
10,754
--------
Carrying amount
At 30 June 2024
26,604
--------
At 30 June 2023
20,413
--------
7. Debtors
2024
2023
£
£
Trade debtors
2,784
3,812
Other debtors
16,125
15,092
--------
--------
18,909
18,904
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
535,184
562,630
Corporation tax
21,119
87
Social security and other taxes
2,459
1,796
Hire Purchase finance
7,016
Other creditors
69,614
119,927
---------
---------
628,376
691,456
---------
---------
9. Bank loans and overdrafts
2024
£
Bank loan due less than one year
22,516
Bank loan due greater than one year
540,114
---------
562,630
---------