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  FINE ART DENTAL STUDIO LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 DECEMBER 2023
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  FINE ART DENTAL STUDIO LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 DECEMBER 2023
       
       
  DIRECTOR
       
  H K S Parmar
  C Parmar
       
       
  SECRETARY
       
  H K S Parmar
       
  REGISTERED OFFICE
       
  Rear of 1 Alcester Road
Moseley, Birmingham
West Midlands
B13 8AR
       
       
  COMPANY REGISTERED NUMBER
       
  07101369
       
       
  BANKERS
       
  Lloyds Bank plc
25 Gresham Street
London
EC2V 7HN
       
       
  ACCOUNTANTS
       
  Lyness Accountancy Practice Limited
  Chartered Certified Accountants
  78 Birmingham Street
Oldbury
West Midlands
B69 4EB
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
       
  page 1
  FINE ART DENTAL STUDIO LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 DECEMBER 2023
       
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  FINE ART DENTAL STUDIO LIMITED
  Company registered number: 07101369
  STATEMENT OF FINANCIAL POSITION AT 31 December 2023
           
    Note 2023 2022
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 368,825 402,013
  Investments held as fixed assets 4 394,946 60,496
      763,771 462,509
  CURRENT ASSETS    
  Inventories   22,580 21,367
  Debtors 5 472,077 291,003
  Cash at bank and in hand   635,252 757,904
      1,129,909 1,070,274
  CREDITORS: Amounts falling due within one year 6 494,148 364,448
  NET CURRENT ASSETS   635,761 705,826
  TOTAL ASSETS LESS CURRENT LIABILITIES   1,399,532 1,168,335
           
  CREDITORS: Amounts falling due after more than one year 7 (141,665) (250,560)
  NET ASSETS   £1,257,867 £917,775
       
  CAPITAL AND RESERVES
  Called up share capital   1 1
  Retained earnings   1,257,866 917,774
  SHAREHOLDERS' FUNDS   £1,257,867 £917,775
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  FINE ART DENTAL STUDIO LIMITED
  Company registered number: 07101369
  STATEMENT OF FINANCIAL POSITION AT 31 December 2023 (CONT.)
           
    Note 2023 2022
      £ £ £
       
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 19 September 2024
 
  Signed on behalf of the board of directors
 
 
       
  H K S Parmar, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  FINE ART DENTAL STUDIO LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 DECEMBER 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Fine Art Dental Studio Limited, company number 05893002 is a private company limited by shares incorporated in England & Wales.
         
  Registered office:
  Rear of 1 Alcester Road
Moseley, Birmingham
West Midlands
B13 8AR
         
         
1b. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
         
1c. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
       
1d. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 15%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1e. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1f. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  FINE ART DENTAL STUDIO LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 DECEMBER 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1g. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1h. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1i. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
         
1j. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2023 2022
    No. No.
  Management and administration 22 14
   
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  FINE ART DENTAL STUDIO LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 DECEMBER 2023
         
3. PROPERTY, PLANT AND EQUIPMENT
    Plant & Fixtures &  
    Machinery Equipment Total
    £ £ £
  Cost
         
  At 1 January 2023 156,885 746,185 903,070
  Additions 8,159 62,652 70,811
         
  At 31 December 2023 165,044 808,837 973,881
   
  Depreciation
         
  At 1 January 2023 142,988 358,069 501,057
  For the year 5,309 98,690 103,999
  At 31 December 2023 148,297 456,759 605,056
   
  Net Book Amounts
         
  At 31 December 2023 16,747 352,078 368,825
  At 31 December 2022 13,897 388,116 402,013
   
       
       
4. INVESTMENTS HELD AS FIXED ASSETS
    Other  
    investments  
    Other than  
    loans Total
    £ £
  Cost or valuation
       
  At 1 January 2023 60,496 60,496
  Additions 334,450 334,450
  At 31 December 2023 394,946 394,946
   
  Amounts written off
       
  At 31 December 2023 - -
   
  Net Book Amounts
       
  At 31 December 2023 394,946 394,946
  At 31 December 2022 60,496 60,496
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  FINE ART DENTAL STUDIO LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 DECEMBER 2023
       
       
5. DEBTORS 2023 2022
    £ £
  Trade debtors 236,856 196,609
  Other debtors 235,221 94,394
    £472,077 £291,003
   
       
       
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts 143,887 40,000
  Finance leases and hire purchase contracts 72,229 74,781
  Trade creditors 100,569 117,467
  Corporation tax 150,203 98,811
  Other taxes and social security 20,665 19,697
  Other creditors 3,753 3,385
  Accruals and deferred income 2,842 10,307
    £494,148 £364,448
   
       
       
7. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts 66,667 103,333
  Finance leases and hire purchase contracts 74,998 147,227
    £141,665 £250,560
   
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 40,000 40,000
  leases 72,229 74,781
  within 2-5 years
  bank 66,667 103,333
  leases 74,998 147,227
    £253,894 £365,341
   
  The notes on pages 5-8 form part of these financial statements
   
  page 8