Silverfin false false 30/04/2024 01/04/2023 30/04/2024 Mr S Ahmed 03/05/2024 Dr N P Counihan 03/05/2024 Mr B K Lanesman 09/06/2023 16/03/2022 Mr J D Peak 03/05/2024 29/06/2023 Mrs A C Sellars 09/06/2023 13/04/2023 23 September 2024 The principle activity of the company is the provision of dental services. 06579254 2024-04-30 06579254 bus:Director1 2024-04-30 06579254 bus:Director2 2024-04-30 06579254 bus:Director3 2024-04-30 06579254 bus:Director4 2024-04-30 06579254 bus:Director5 2024-04-30 06579254 2023-03-31 06579254 core:CurrentFinancialInstruments 2024-04-30 06579254 core:CurrentFinancialInstruments 2023-03-31 06579254 core:ShareCapital 2024-04-30 06579254 core:ShareCapital 2023-03-31 06579254 core:SharePremium 2024-04-30 06579254 core:SharePremium 2023-03-31 06579254 core:RetainedEarningsAccumulatedLosses 2024-04-30 06579254 core:RetainedEarningsAccumulatedLosses 2023-03-31 06579254 core:LandBuildings 2023-03-31 06579254 core:PlantMachinery 2023-03-31 06579254 core:FurnitureFittings 2023-03-31 06579254 core:LandBuildings 2024-04-30 06579254 core:PlantMachinery 2024-04-30 06579254 core:FurnitureFittings 2024-04-30 06579254 bus:OrdinaryShareClass1 2024-04-30 06579254 bus:OrdinaryShareClass2 2024-04-30 06579254 bus:OrdinaryShareClass3 2024-04-30 06579254 bus:OrdinaryShareClass4 2024-04-30 06579254 2023-04-01 2024-04-30 06579254 bus:FilletedAccounts 2023-04-01 2024-04-30 06579254 bus:SmallEntities 2023-04-01 2024-04-30 06579254 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-04-30 06579254 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-04-30 06579254 bus:Director1 2023-04-01 2024-04-30 06579254 bus:Director2 2023-04-01 2024-04-30 06579254 bus:Director3 2023-04-01 2024-04-30 06579254 bus:Director4 2023-04-01 2024-04-30 06579254 bus:Director5 2023-04-01 2024-04-30 06579254 core:LandBuildings 2023-04-01 2024-04-30 06579254 core:PlantMachinery 2023-04-01 2024-04-30 06579254 core:FurnitureFittings 2023-04-01 2024-04-30 06579254 2022-03-17 2023-03-31 06579254 bus:OrdinaryShareClass1 2023-04-01 2024-04-30 06579254 bus:OrdinaryShareClass1 2022-03-17 2023-03-31 06579254 bus:OrdinaryShareClass2 2023-04-01 2024-04-30 06579254 bus:OrdinaryShareClass2 2022-03-17 2023-03-31 06579254 bus:OrdinaryShareClass3 2023-04-01 2024-04-30 06579254 bus:OrdinaryShareClass3 2022-03-17 2023-03-31 06579254 bus:OrdinaryShareClass4 2023-04-01 2024-04-30 06579254 bus:OrdinaryShareClass4 2022-03-17 2023-03-31 06579254 1 2023-04-01 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06579254 (England and Wales)

THE RIVER PRACTICE LIMITED

Unaudited Financial Statements
For the financial period from 01 April 2023 to 30 April 2024
Pages for filing with the registrar

THE RIVER PRACTICE LIMITED

Unaudited Financial Statements

For the financial period from 01 April 2023 to 30 April 2024

Contents

THE RIVER PRACTICE LIMITED

BALANCE SHEET

As at 30 April 2024
THE RIVER PRACTICE LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 30.04.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 50,521 58,098
50,521 58,098
Current assets
Stocks 10,000 10,000
Debtors 4 124,367 418,225
Cash at bank and in hand 167,986 91,101
302,353 519,326
Creditors: amounts falling due within one year 5 ( 124,159) ( 209,646)
Net current assets 178,194 309,680
Total assets less current liabilities 228,715 367,778
Provision for liabilities ( 10,627) ( 12,494)
Net assets 218,088 355,284
Capital and reserves
Called-up share capital 6 1,064 1,064
Share premium account 12,446 12,446
Profit and loss account 204,578 341,774
Total shareholder's funds 218,088 355,284

For the financial period ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The River Practice Limited (registered number: 06579254) were approved and authorised for issue by the Board of Directors on 23 September 2024. They were signed on its behalf by:

Mr S Ahmed
Director
THE RIVER PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 April 2024
THE RIVER PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

The River Practice Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The River Practice Specialist Centre Castle Mews, 10 Castle St, Truro, TR1 3AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The accounting reference date of the company was extended from 31 March 2024 to 30 April 2024, to bring the company's year end in line with its parent company. Therefore amounts presented in the profit and loss account are not entirely comparable.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings 20 % reducing balance
Plant and machinery 20 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
01.04.2023 to
30.04.2024
Period from
17.03.2022 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 15 15

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2023 14,269 36,945 73,640 124,854
Additions 0 4,432 0 4,432
At 30 April 2024 14,269 41,377 73,640 129,286
Accumulated depreciation
At 01 April 2023 6,147 16,322 44,287 66,756
Charge for the financial period 1,759 4,780 5,470 12,009
At 30 April 2024 7,906 21,102 49,757 78,765
Net book value
At 30 April 2024 6,363 20,275 23,883 50,521
At 31 March 2023 8,122 20,623 29,353 58,098

4. Debtors

30.04.2024 31.03.2023
£ £
Trade debtors 4,115 74,501
Amounts owed by Group undertakings 100,000 329,262
Other debtors 20,252 14,462
124,367 418,225

5. Creditors: amounts falling due within one year

30.04.2024 31.03.2023
£ £
Trade creditors 5,174 77,888
Taxation and social security 31,966 67,541
Other creditors 87,019 64,217
124,159 209,646

6. Called-up share capital

30.04.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000
8 Ordinary A shares of £ 1.00 each 8 8
2 Ordinary B shares of £ 1.00 each 2 2
54 Ordinary C shares of £ 1.00 each 54 54
1,064 1,064

7. Related party transactions

Transactions with the entity's directors

30.04.2024 31.03.2023
£ £
Director's loan 16,257 0

During the period the company advanced £17,978 to the director, of which £1,971 was repaid. Interest totalling £250 has been charged on the loan at the actual official rate of 2.25% set out by HMRC. The total amount due to the company at the period was £16,257 (2023: £Nil) and is repayable on demand.

8. Ultimate controlling party

Parent Company:

Cornwall Health Care Limited
The Bristol Office, 2nd Floor 5 High Street, Westbury On Trym, Bristol, England, BS9 3BY

The ultimate controlling party is Cornwall Healthcare Limited, by virtue of its 100% shareholding in The River Practice Limited.