13 false false false false false false false false false false true false false false false false false 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 375,996 128,218 37,600 165,818 210,178 247,778 xbrli:pure xbrli:shares iso4217:GBP 10904903 2023-04-01 2024-03-31 10904903 2024-03-31 10904903 2023-03-31 10904903 2022-04-01 2023-03-31 10904903 2023-03-31 10904903 2022-03-31 10904903 core:NetGoodwill 2023-04-01 2024-03-31 10904903 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10904903 core:PlantMachinery 2023-04-01 2024-03-31 10904903 core:FurnitureFittings 2023-04-01 2024-03-31 10904903 core:MotorVehicles 2023-04-01 2024-03-31 10904903 bus:Director1 2023-04-01 2024-03-31 10904903 core:NetGoodwill 2023-03-31 10904903 core:NetGoodwill 2024-03-31 10904903 core:LandBuildings 2023-03-31 10904903 core:PlantMachinery 2023-03-31 10904903 core:FurnitureFittings 2023-03-31 10904903 core:MotorVehicles 2023-03-31 10904903 core:LandBuildings 2024-03-31 10904903 core:PlantMachinery 2024-03-31 10904903 core:FurnitureFittings 2024-03-31 10904903 core:MotorVehicles 2024-03-31 10904903 core:LandBuildings 2023-04-01 2024-03-31 10904903 core:WithinOneYear 2024-03-31 10904903 core:WithinOneYear 2023-03-31 10904903 core:AfterOneYear 2024-03-31 10904903 core:AfterOneYear 2023-03-31 10904903 core:ShareCapital 2024-03-31 10904903 core:ShareCapital 2023-03-31 10904903 core:RetainedEarningsAccumulatedLosses 2024-03-31 10904903 core:RetainedEarningsAccumulatedLosses 2023-03-31 10904903 core:NetGoodwill 2023-03-31 10904903 core:LandBuildings 2023-03-31 10904903 core:PlantMachinery 2023-03-31 10904903 core:FurnitureFittings 2023-03-31 10904903 core:MotorVehicles 2023-03-31 10904903 bus:SmallEntities 2023-04-01 2024-03-31 10904903 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10904903 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10904903 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10904903 bus:FullAccounts 2023-04-01 2024-03-31 10904903 core:ComputerEquipment 2023-04-01 2024-03-31 10904903 core:ComputerEquipment 2023-03-31 10904903 core:ComputerEquipment 2024-03-31 10904903 core:AfterOneYear 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10904903
WTL Dental Limited
Unaudited financial statements
31 March 2024
WTL Dental Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
210,178
247,778
Tangible assets
6
872,355
839,317
-----------
-----------
1,082,533
1,087,095
Current assets
Stocks
8,000
20,197
Debtors
7
21,437
17,884
Cash at bank and in hand
82,620
25,227
---------
-------
112,057
63,308
Creditors: Amounts falling due within one year
8
( 252,014)
( 241,670)
---------
---------
Net current liabilities
( 139,957)
( 178,362)
-----------
-----------
Total assets less current liabilities
942,576
908,733
Creditors: Amounts falling due after more than one year
9
( 642,473)
( 664,826)
Provisions
Taxation including deferred tax
( 128,151)
( 90,614)
---------
---------
Net assets
171,952
153,293
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
171,852
153,193
---------
---------
Shareholders funds
171,952
153,293
---------
---------
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 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WTL Dental Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 8 September 2024 , and are signed on behalf of the board by:
Mr M Hako
Director
Company registration number: 10904903
WTL Dental Limited
Notes to the financial statements
Year ended 31 March 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 Sixty Six, North Quay, Great Yarmouth, Norfolk, NR30 1HE, England. The trading address is Priory Dental Care, 5 Priory Road, Downham Market, PE38 9JU.
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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and by their nature, will rarely equal the related actual outcome. They key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are a follows: Amortisation of goodwill is estimated over 10 years. The carrying value at the year end was £210,178(2023:£247,778).
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
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.
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.
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:
Freehold property
-
2% straight line
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payment 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 13 (2023: 13 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
375,996
---------
Amortisation
At 1 April 2023
128,218
Charge for the year
37,600
---------
At 31 March 2024
165,818
---------
Carrying amount
At 31 March 2024
210,178
---------
At 31 March 2023
247,778
---------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 April 2023
422,616
337,189
96,289
113,995
26,272
996,361
Additions
45,610
7,925
62,317
21,963
137,815
---------
---------
---------
---------
-------
-----------
At 31 March 2024
422,616
382,799
104,214
176,312
48,235
1,134,176
---------
---------
---------
---------
-------
-----------
Depreciation
At 1 April 2023
8,461
79,918
30,191
23,749
14,725
157,044
Charge for the year
8,461
43,330
10,770
32,947
9,269
104,777
---------
---------
---------
---------
-------
-----------
At 31 March 2024
16,922
123,248
40,961
56,696
23,994
261,821
---------
---------
---------
---------
-------
-----------
Carrying amount
At 31 March 2024
405,694
259,551
63,253
119,616
24,241
872,355
---------
---------
---------
---------
-------
-----------
At 31 March 2023
414,155
257,271
66,098
90,246
11,547
839,317
---------
---------
---------
---------
-------
-----------
7. Debtors
2024
2023
£
£
Trade debtors
4,354
3,693
Other debtors
17,083
14,191
-------
-------
21,437
17,884
-------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
48,244
58,765
Trade creditors
23,380
25,302
Social security and other taxes
31,325
293
Other creditors
149,065
157,310
---------
---------
252,014
241,670
---------
---------
Bank loans and overdrafts are secured on assets owned by the company.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
534,361
586,002
Other creditors
108,112
78,824
---------
---------
642,473
664,826
---------
---------
Bank loans and overdrafts are secured on assets owned by the company. Included within creditors: amounts falling due after more than one year is an amount of £341,385 (2023: £350,943) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.