Registered number
06915625
Deganwy Dental Practice Ltd
Filleted Accounts
31 March 2024
Deganwy Dental Practice Ltd
Registered number: 06915625
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 117,000 136,500
Tangible assets 4 87,724 90,813
204,724 227,313
Current assets
Stocks 2,600 2,500
Debtors 5 19,278 17,616
Cash at bank and in hand 21,088 44,441
42,966 64,557
Creditors: amounts falling due within one year 6 (71,288) (54,724)
Net current (liabilities)/assets (28,322) 9,833
Total assets less current liabilities 176,402 237,146
Creditors: amounts falling due after more than one year 7 (14,067) (24,067)
Provisions for liabilities (21,931) (17,096)
Net assets 140,404 195,983
Capital and reserves
Called up share capital 2 2
Profit and loss account 140,402 195,981
Shareholders' funds 140,404 195,983
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr E S J Lof
Director
Approved by the board on 9 October 2024
Deganwy Dental Practice Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer Equipment 25% on reducing balance
Fixtures, fittings, tools and equipment 15% on reducing balance
Motor Car 10% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 390,000
At 31 March 2024 390,000
Amortisation
At 1 April 2023 253,500
Provided during the year 19,500
At 31 March 2024 273,000
Net book value
At 31 March 2024 117,000
At 31 March 2023 136,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 22,570 110,975 - 133,545
Additions 1,261 9,200 54,435 64,896
At 31 March 2024 23,831 120,175 54,435 198,441
Depreciation
At 1 April 2023 18,200 68,624 10,343 97,167
Charge for the year 1,408 7,733 4,409 13,550
At 31 March 2024 19,608 76,357 14,752 110,717
Net book value
At 31 March 2024 4,223 43,818 39,683 87,724
At 31 March 2023 4,370 42,351 44,092 90,813
5 Debtors 2024 2023
£ £
Trade debtors 19,279 17,616
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,600 7,600
Trade creditors 6,586 6,054
Taxation and social security costs 41,286 23,345
Other creditors 15,816 17,725
71,288 54,724
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,067 24,067
8 Other information
Deganwy Dental Practice Ltd is a private company limited by shares and incorporated in England. Its registered office is:
125 Station Road
Deganwy
Conwy
Gwynedd
LL31 9EJ
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