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REGISTERED NUMBER: 06451244 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

LIL Dental Limited

LIL Dental Limited (Registered number: 06451244)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LIL Dental Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mrs L M Lightfoot





SECRETARY: Mrs L M Lightfoot





REGISTERED OFFICE: Brownriggside
Westgate
Bishop Auckland
Co. Durham
DL13 1PG





REGISTERED NUMBER: 06451244 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

LIL Dental Limited (Registered number: 06451244)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 60,000 75,000
Tangible assets 6 9,574 10,649
69,574 85,649

CURRENT ASSETS
Stocks 1,800 1,800
Debtors 7 67,150 118,380
Cash at bank 194 23,743
69,144 143,923
CREDITORS
Amounts falling due within one year 8 (114,617 ) (136,149 )
NET CURRENT (LIABILITIES)/ASSETS (45,473 ) 7,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,101

93,423

CREDITORS
Amounts falling due after more than one
year

9

(20,852

)

(33,504

)

PROVISIONS FOR LIABILITIES (1,862 ) (1,835 )
NET ASSETS 1,387 58,084

CAPITAL AND RESERVES
Called up share capital 2 2
Profit and loss account 1,385 58,082
SHAREHOLDERS' FUNDS 1,387 58,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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 director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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 financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





Mrs L M Lightfoot - Director


LIL Dental Limited (Registered number: 06451244)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

LIL Dental Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from the provision of dental practice services, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the company.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Stocks
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.

LIL Dental Limited (Registered number: 06451244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 300,000
AMORTISATION
At 1 January 2023 225,000
Charge for year 15,000
At 31 December 2023 240,000
NET BOOK VALUE
At 31 December 2023 60,000
At 31 December 2022 75,000

LIL Dental Limited (Registered number: 06451244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 51,661
DEPRECIATION
At 1 January 2023 41,012
Charge for year 1,075
At 31 December 2023 42,087
NET BOOK VALUE
At 31 December 2023 9,574
At 31 December 2022 10,649

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 67,150 118,380

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,108 17,206
Trade creditors 1,572 2,423
Taxation and social security 33,252 55,382
Other creditors 65,685 61,138
114,617 136,149

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 15,031 27,037
Other creditors 5,821 6,467
20,852 33,504

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 1,335 9,440

The bank loan is secured by a fixed and floating charge over the assets of the company and contains a negative pledge.

LIL Dental Limited (Registered number: 06451244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr I Lightfoot and Mrs L M Lightfoot
Balance outstanding at start of year 104,415 29,143
Amounts advanced 69,081 85,710
Amounts repaid (116,438 ) (10,438 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 57,058 104,415

The above loan is unsecured, repayable on demand and attracts interest at 2.25%.