Registered number
06246938
Staplehurst Dental Practice Limited
Filleted Accounts
31 March 2024
Staplehurst Dental Practice Limited
Registered number: 06246938
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 43,740 54,675
Tangible assets 4 214,812 223,461
258,552 278,136
Current assets
Stocks 1,875 1,850
Debtors 5 4,477 4,400
6,352 6,250
Creditors: amounts falling due within one year 6 (127,518) (110,420)
Net current liabilities (121,166) (104,170)
Total assets less current liabilities 137,386 173,966
Creditors: amounts falling due after more than one year 7 (112,810) (156,919)
Provisions for liabilities (19,048) (16,051)
Net assets 5,528 996
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,428 896
Shareholders' funds 5,528 996
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr J Einfeldt
Director
Approved by the board on 18 September 2024
Staplehurst Dental Practice Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property Not provided
Plant and machinery, etc 10% on reducing balance
Fixtures, fittings, and equipment 10% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 218,700
At 31 March 2024 218,700
Amortisation
At 1 April 2023 164,025
Provided during the year 10,935
At 31 March 2024 174,960
Net book value
At 31 March 2024 43,740
At 31 March 2023 54,675
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Freehold property Plant and machinery etc Fixtures and fittings Total
£ £ £ £
Cost
At 1 April 2023 136,984 87,815 167,273 392,072
At 31 March 2024 136,984 87,815 167,273 392,072
Depreciation
At 1 April 2023 - 77,302 91,309 168,611
Charge for the year - 1,052 7,597 8,649
At 31 March 2024 - 78,354 98,906 177,260
Net book value
At 31 March 2024 136,984 9,461 68,367 214,812
At 31 March 2023 136,984 10,513 75,964 223,461
5 Debtors 2024 2023
£ £
Trade debtors 4,477 4,400
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 40,619 47,765
Obligations under finance lease and hire purchase contracts 15,371 15,371
Trade creditors 11,603 12,564
Corporation tax 29,782 17,166
Other creditors 30,143 17,554
127,518 110,420
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 108,308 138,137
Obligations under finance lease and hire purchase contracts 4,502 18,782
112,810 156,919
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 60,098 144,508
The company has provided a guarantee to National Westminster Bank Plc (Natwest) by way of a debenture and legal charge over all assets held by the company, in respect of four loans from Natwest to the company. The total outstanding balance of the four loans at 31st March 2024 was £144,508 (31.03.23 - £180,788).
9 Other information
Staplehurst Dental Practice Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Station Road
Staplehurst
Kent
TN12 0QE
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