6 false false false false false false false false false false true false false false false false false No description of principal activity 2024-02-29 Sage Accounts Production Advanced 2023 - FRS102_2023 244,392 244,392 xbrli:pure xbrli:shares iso4217:GBP 13910757 2024-02-29 2024-03-31 13910757 2024-03-31 13910757 2024-02-28 13910757 core:PlantMachinery 2024-02-29 2024-03-31 13910757 core:NetGoodwill 2024-02-29 2024-03-31 13910757 bus:Director1 2024-02-29 2024-03-31 13910757 bus:Director2 2024-02-29 2024-03-31 13910757 core:WithinOneYear 2024-03-31 13910757 core:PlantMachinery 2024-02-28 13910757 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 13910757 core:PlantMachinery 2024-03-31 13910757 core:AfterOneYear 2024-03-31 13910757 core:RetainedEarningsAccumulatedLosses 2024-03-31 13910757 core:NetGoodwill 2024-03-31 13910757 bus:SmallEntities 2024-02-29 2024-03-31 13910757 bus:AuditExemptWithAccountantsReport 2024-02-29 2024-03-31 13910757 bus:SmallCompaniesRegimeForAccounts 2024-02-29 2024-03-31 13910757 bus:PrivateLimitedCompanyLtd 2024-02-29 2024-03-31 13910757 bus:FullAccounts 2024-02-29 2024-03-31 13910757 core:OfficeEquipment 2024-02-29 2024-03-31 13910757 core:OfficeEquipment 2024-03-31 13910757 core:OfficeEquipment 2024-02-28
COMPANY REGISTRATION NUMBER: 13910757
MIST DENTAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 March 2024
MIST DENTAL LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
31 Mar 24
Note
£
£
FIXED ASSETS
Intangible assets
5
244,392
Tangible assets
6
276,540
----------
520,932
CURRENT ASSETS
Stocks
2,500
Debtors
7
7,311
Cash at bank and in hand
40,623
--------
50,434
CREDITORS: amounts falling due within one year
8
46,825
--------
NET CURRENT ASSETS/(LIABILITIES)
3,609
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
524,541
CREDITORS: amounts falling due after more than one year
9
480,654
----------
NET ASSETS
43,887
----------
CAPITAL AND RESERVES
Profit and loss account
43,887
--------
SHAREHOLDERS FUNDS
43,887
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MIST DENTAL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 10 July 2024 , and are signed on behalf of the board by:
Dr L Miller
Dr L Storr
Director
Director
Company registration number: 13910757
MIST DENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 29 FEBRUARY 2024 TO 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Ripon Road, Harrogate, HG1 2JB, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance to FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has 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.
(c) Revenue recognition
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 stage of completion.
(d) Current & deferred tax
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 amounts 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 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.
(e) Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g) Depreciation
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:
Plant and machinery
-
20% straight line
Equipment
-
20% straight line
(h) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 6 .
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 29 February 2024 and 31 March 2024
244,392
----------
Amortisation
At 29 February 2024 and 31 March 2024
----------
Carrying amount
At 31 March 2024
244,392
----------
6. TANGIBLE ASSETS
Long leasehold property
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 29 February 2024 and 31 March 2024
208,588
73,728
11,212
293,528
----------
--------
--------
----------
Depreciation
At 29 February 2024
13,612
2,069
15,681
Charge for the period
1,134
173
1,307
----------
--------
--------
----------
At 31 March 2024
14,746
2,242
16,988
----------
--------
--------
----------
Carrying amount
At 31 March 2024
208,588
58,982
8,970
276,540
----------
--------
--------
----------
7. DEBTORS
31 Mar 24
£
Trade debtors
3,722
Other debtors
3,589
-------
7,311
-------
8. CREDITORS: amounts falling due within one year
31 Mar 24
£
Bank loans and overdrafts
12,845
Trade creditors
5,272
Accruals and deferred income
1,500
Corporation tax
2,190
Social security and other taxes
1,215
Obligations under finance leases and hire purchase contracts
3,945
Directors current account
19,858
--------
46,825
--------
9. CREDITORS: amounts falling due after more than one year
31 Mar 24
£
Bank loans and overdrafts
464,810
Obligations under finance leases and hire purchase contracts
15,844
----------
480,654
----------
10. RELATED PARTY TRANSACTIONS
During the year the directors loaned the company £ 19,858 . This loan is repayable upon demand. Interest has been charged at UK market rate.