Company registration number 10983227 (England and Wales)
@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
341,524
263,452
Current assets
Stocks
33,057
27,885
Debtors
4
74,626
25,644
Cash at bank and in hand
202,885
99,556
310,568
153,085
Creditors: amounts falling due within one year
5
(442,527)
(177,598)
Net current liabilities
(131,959)
(24,513)
Total assets less current liabilities
209,565
238,939
Creditors: amounts falling due after more than one year
6
(297,905)
(394,873)
Net liabilities
(88,340)
(155,934)
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
(88,344)
(155,938)
Total equity
(88,340)
(155,934)
@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 the company was entitled to exemption from audit 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 in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 September 2024 and are signed on its behalf by:
Mr J Marney
Director
Company registration number 10983227 (England and Wales)
@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

@homedental Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wessex House, Teign Road, Newton Abbot, Devon, TQ12 4AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

1.2
Going concern

These financial statements have been prepared on a going concern basis. The company is dependent upon the support of the directors, who have loan accounts totalling £260,876, of which £156,000 is included in creditors falling due within one year and £104,876 is included in creditors falling due after more than one year. The directors have given written confirmation that they will not withdraw the existing funds included in creditors falling due after more than one year within the next 12 months. In addition the company has raised additional share capital, and a profit is forecast for the current year to 31 March 2025. The going concern basis is therefore believed to be appropriate. The financial statements do not contain any adjustments that might arise from a withdrawal of funds by the director.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

 

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over 7 years on a straight-line basis
Fixtures and fittings
20% per annum on a straight-line basis
Computers
25% per annum on a straight-line basis
Motor vehicles
20% per annum on a straight-line basis
Dental equipment
20% per annum on a straight-line basis

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.

@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year to March 2024 was 27 (2023: 16)

2024
2023
Number
Number
Total
27
16
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Dental equipment
Total
£
£
£
£
Cost
At 1 April 2023
100,175
170,995
137,082
408,252
Additions
-
0
169,239
14,712
183,951
Disposals
-
0
-
0
(266)
(266)
At 31 March 2024
100,175
340,234
151,528
591,937
Depreciation and impairment
At 1 April 2023
-
0
77,325
67,476
144,801
Depreciation charged in the year
14,311
67,908
23,446
105,665
Eliminated in respect of disposals
-
0
-
0
(53)
(53)
At 31 March 2024
14,311
145,233
90,869
250,413
Carrying amount
At 31 March 2024
85,864
195,001
60,659
341,524
At 31 March 2023
100,175
93,671
69,606
263,452
@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
72,225
25,644
Prepayments and accrued income
2,401
-
0
74,626
25,644
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,750
5,178
Obligations under finance leases
62,359
29,921
Other borrowings
-
0
22,016
Trade creditors
181,521
74,604
Deferred income
37,786
43,270
Other creditors
156,000
-
0
Accruals and deferred income
111
2,609
442,527
177,598

Obligations under finance leases and hire purchase contracts are secured upon the assets acquired.

Other creditors comprise a director's loan account which is unsecured, interest free and repayable within one year.

6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
31,140
35,461
Obligations under finance leases
161,889
68,179
Other borrowings
104,876
291,233
297,905
394,873

Obligations under finance leases and hire purchase contracts are secured upon the assets acquired.

Included in Other long term creditors is a director's loan account of £104,876 which is unsecured, interest free and repayable within 1-5 years.

@HOMEDENTAL LIMITED
TRADING AS AT HOME DENTAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
A Ordinary of £1 each
1
1
1
1
B Ordinary of £1 each
1
1
1
1
4
4
4
4
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
216,497
263,817
9
Ultimate controlling party

The ultimate controlling party is Mr J Marney, the sole shareholder.

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