2023-04-012024-03-312024-03-31false10432961FITZ PARK DENTAL PRACTICE LIMITED2024-08-08iso4217:GBPxbrli:pure104329612023-04-01104329612024-03-31104329612023-04-012024-03-31104329612022-04-01104329612023-03-31104329612022-04-012023-03-3110432961bus:SmallEntities2023-04-012024-03-3110432961bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3110432961bus:AbridgedAccounts2023-04-012024-03-3110432961bus:PrivateLimitedCompanyLtd2023-04-012024-03-3110432961core:WithinOneYear2024-03-3110432961core:AfterOneYear2024-03-3110432961core:WithinOneYear2023-03-3110432961core:AfterOneYear2023-03-3110432961core:ShareCapital2024-03-3110432961core:SharePremium2024-03-3110432961core:RevaluationReserve2024-03-3110432961core:OtherReservesSubtotal2024-03-3110432961core:RetainedEarningsAccumulatedLosses2024-03-3110432961core:ShareCapital2023-03-3110432961core:SharePremium2023-03-3110432961core:RevaluationReserve2023-03-3110432961core:OtherReservesSubtotal2023-03-3110432961core:RetainedEarningsAccumulatedLosses2023-03-3110432961core:LandBuildings2024-03-3110432961core:PlantMachinery2024-03-3110432961core:Vehicles2024-03-3110432961core:FurnitureFittings2024-03-3110432961core:OfficeEquipment2024-03-3110432961core:NetGoodwill2024-03-3110432961core:IntangibleAssetsOtherThanGoodwill2024-03-3110432961core:ListedExchangeTraded2024-03-3110432961core:UnlistedNon-exchangeTraded2024-03-3110432961core:LandBuildings2023-03-3110432961core:PlantMachinery2023-03-3110432961core:Vehicles2023-03-3110432961core:FurnitureFittings2023-03-3110432961core:OfficeEquipment2023-03-3110432961core:NetGoodwill2023-03-3110432961core:IntangibleAssetsOtherThanGoodwill2023-03-3110432961core:ListedExchangeTraded2023-03-3110432961core:UnlistedNon-exchangeTraded2023-03-3110432961core:LandBuildings2023-04-012024-03-3110432961core:PlantMachinery2023-04-012024-03-3110432961core:Vehicles2023-04-012024-03-3110432961core:FurnitureFittings2023-04-012024-03-3110432961core:OfficeEquipment2023-04-012024-03-3110432961core:NetGoodwill2023-04-012024-03-3110432961core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3110432961core:ListedExchangeTraded2023-04-012024-03-3110432961core:UnlistedNon-exchangeTraded2023-04-012024-03-3110432961core:MoreThanFiveYears2023-04-012024-03-3110432961core:Non-currentFinancialInstruments2024-03-3110432961core:Non-currentFinancialInstruments2023-03-3110432961dpl:CostSales2023-04-012024-03-3110432961dpl:DistributionCosts2023-04-012024-03-3110432961core:LandBuildings2023-04-012024-03-3110432961core:PlantMachinery2023-04-012024-03-3110432961core:Vehicles2023-04-012024-03-3110432961core:FurnitureFittings2023-04-012024-03-3110432961core:OfficeEquipment2023-04-012024-03-3110432961dpl:AdministrativeExpenses2023-04-012024-03-3110432961core:NetGoodwill2023-04-012024-03-3110432961core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3110432961dpl:GroupUndertakings2023-04-012024-03-3110432961dpl:ParticipatingInterests2023-04-012024-03-3110432961dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3110432961core:ListedExchangeTraded2023-04-012024-03-3110432961dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3110432961core:UnlistedNon-exchangeTraded2023-04-012024-03-3110432961dpl:CostSales2022-04-012023-03-3110432961dpl:DistributionCosts2022-04-012023-03-3110432961core:LandBuildings2022-04-012023-03-3110432961core:PlantMachinery2022-04-012023-03-3110432961core:Vehicles2022-04-012023-03-3110432961core:FurnitureFittings2022-04-012023-03-3110432961core:OfficeEquipment2022-04-012023-03-3110432961dpl:AdministrativeExpenses2022-04-012023-03-3110432961core:NetGoodwill2022-04-012023-03-3110432961core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3110432961dpl:GroupUndertakings2022-04-012023-03-3110432961dpl:ParticipatingInterests2022-04-012023-03-3110432961dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3110432961core:ListedExchangeTraded2022-04-012023-03-3110432961dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3110432961core:UnlistedNon-exchangeTraded2022-04-012023-03-3110432961core:NetGoodwill2024-03-3110432961core:IntangibleAssetsOtherThanGoodwill2024-03-3110432961core:LandBuildings2024-03-3110432961core:PlantMachinery2024-03-3110432961core:Vehicles2024-03-3110432961core:FurnitureFittings2024-03-3110432961core:OfficeEquipment2024-03-3110432961core:AfterOneYear2024-03-3110432961core:WithinOneYear2024-03-3110432961core:ListedExchangeTraded2024-03-3110432961core:UnlistedNon-exchangeTraded2024-03-3110432961core:ShareCapital2024-03-3110432961core:SharePremium2024-03-3110432961core:RevaluationReserve2024-03-3110432961core:OtherReservesSubtotal2024-03-3110432961core:RetainedEarningsAccumulatedLosses2024-03-3110432961core:NetGoodwill2023-03-3110432961core:IntangibleAssetsOtherThanGoodwill2023-03-3110432961core:LandBuildings2023-03-3110432961core:PlantMachinery2023-03-3110432961core:Vehicles2023-03-3110432961core:FurnitureFittings2023-03-3110432961core:OfficeEquipment2023-03-3110432961core:AfterOneYear2023-03-3110432961core:WithinOneYear2023-03-3110432961core:Listed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FITZ PARK DENTAL PRACTICE LIMITED

Registered Number
10432961
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

FITZ PARK DENTAL PRACTICE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

WELCH, Simon

Registered Address

Croft Head Farm
Applethwaite
Keswick
CA12 4PN

Registered Number

10432961 (England and Wales)
FITZ PARK DENTAL PRACTICE LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3700,000700,000
Tangible assets464,86465,602
764,864765,602
Current assets
Stocks7,6037,406
Debtors510,40211,225
Cash at bank and on hand128,749126,841
146,754145,472
Creditors amounts falling due within one year6(245,020)(379,095)
Net current assets (liabilities)(98,266)(233,623)
Total assets less current liabilities666,598531,979
Creditors amounts falling due after one year7(66,348)(83,970)
Provisions for liabilities(13,362)(9,815)
Net assets586,888438,194
Capital and reserves
Called up share capital100100
Profit and loss account586,788438,094
Shareholders' funds586,888438,194
The financial statements were approved and authorised for issue by the Director on 8 August 2024, and are signed on its behalf by:
WELCH, Simon
Director
Registered Company No. 10432961
FITZ PARK DENTAL PRACTICE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the entity.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Revenue from sale of goods
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year end date is recognised by reference to the state of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
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 amount 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
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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:

Reducing balance (%)
Land and buildings10
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Stocks and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants or assistance
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.
2.Average number of employees

20242023
Average number of employees during the year99
3.Intangible assets

Total

£
Cost or valuation
At 01 April 23700,000
At 31 March 24700,000
Net book value
At 31 March 24700,000
At 31 March 23700,000
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23137,847
Additions20,848
At 31 March 24158,695
Depreciation and impairment
At 01 April 2372,245
Charge for year21,586
At 31 March 2493,830
Net book value
At 31 March 2464,864
At 31 March 2365,602
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8834,002
Other debtors5,586-
Prepayments and accrued income3,9337,223
Total10,40211,225
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables37,09738,433
Bank borrowings and overdrafts135,256287,614
Taxation and social security69,35449,748
Accrued liabilities and deferred income3,3133,300
Total245,020379,095
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts66,34882,256
Other creditors-1,714
Total66,34883,970
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts-1,714
9.Related party transactions
During the year the Director loaned the Company £119,581 (2022: £272,137). This loan was interest free and repayable upon demand.