Caseware UK (AP4) 2023.0.135 2023.0.135 false131632902023-02-015false7falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13163290 2023-02-01 2024-01-31 13163290 2022-02-01 2023-01-31 13163290 2024-01-31 13163290 2023-01-31 13163290 c:Director1 2023-02-01 2024-01-31 13163290 c:Director2 2023-02-01 2024-01-31 13163290 c:RegisteredOffice 2023-02-01 2024-01-31 13163290 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 13163290 d:Buildings d:LongLeaseholdAssets 2024-01-31 13163290 d:Buildings d:LongLeaseholdAssets 2023-01-31 13163290 d:PlantMachinery 2023-02-01 2024-01-31 13163290 d:PlantMachinery 2024-01-31 13163290 d:PlantMachinery 2023-01-31 13163290 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13163290 d:FurnitureFittings 2023-02-01 2024-01-31 13163290 d:FurnitureFittings 2024-01-31 13163290 d:FurnitureFittings 2023-01-31 13163290 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13163290 d:OfficeEquipment 2023-02-01 2024-01-31 13163290 d:OfficeEquipment 2024-01-31 13163290 d:OfficeEquipment 2023-01-31 13163290 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13163290 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 13163290 d:ComputerSoftware 2024-01-31 13163290 d:ComputerSoftware 2023-01-31 13163290 d:CurrentFinancialInstruments 2024-01-31 13163290 d:CurrentFinancialInstruments 2023-01-31 13163290 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 13163290 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 13163290 d:ShareCapital 2024-01-31 13163290 d:ShareCapital 2023-01-31 13163290 d:RetainedEarningsAccumulatedLosses 2024-01-31 13163290 d:RetainedEarningsAccumulatedLosses 2023-01-31 13163290 c:FRS102 2023-02-01 2024-01-31 13163290 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13163290 c:FullAccounts 2023-02-01 2024-01-31 13163290 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13163290 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-02-01 2024-01-31 13163290 2 2023-02-01 2024-01-31 13163290 e:Item1 f:UnitedKingdom 2023-02-01 2024-01-31 13163290 e:Item1 f:UnitedKingdom 2022-02-01 2023-01-31 13163290 e:Item2 f:UnitedKingdom 2023-02-01 2024-01-31 13163290 e:Item2 f:UnitedKingdom 2022-02-01 2023-01-31 13163290 e:Item3 f:UnitedKingdom 2023-02-01 2024-01-31 13163290 e:Item3 f:UnitedKingdom 2022-02-01 2023-01-31 13163290 e:Item5 f:UnitedKingdom 2023-02-01 2024-01-31 13163290 e:Item5 f:UnitedKingdom 2022-02-01 2023-01-31 13163290 e:CostSales 2023-02-01 2024-01-31 13163290 e:CostSales 2022-02-01 2023-01-31 13163290 e:CostSales e:Item1 2023-02-01 2024-01-31 13163290 e:CostSales e:Item1 2022-02-01 2023-01-31 13163290 e:CostSales e:Item2 2023-02-01 2024-01-31 13163290 e:CostSales e:Item2 2022-02-01 2023-01-31 13163290 e:CostSales e:Item3 2023-02-01 2024-01-31 13163290 e:CostSales e:Item3 2022-02-01 2023-01-31 13163290 e:AdministrativeExpenses 2023-02-01 2024-01-31 13163290 e:AdministrativeExpenses 2022-02-01 2023-01-31 13163290 e:AdministrativeExpenses e:Item1 2023-02-01 2024-01-31 13163290 e:AdministrativeExpenses e:Item1 2022-02-01 2023-01-31 13163290 e:AdministrativeExpenses e:Item2 2023-02-01 2024-01-31 13163290 e:AdministrativeExpenses e:Item2 2022-02-01 2023-01-31 13163290 e:AdministrativeExpenses e:Item3 2023-02-01 2024-01-31 13163290 e:AdministrativeExpenses e:Item3 2022-02-01 2023-01-31 13163290 e:AdministrativeExpenses e:Item6 2023-02-01 2024-01-31 13163290 e:AdministrativeExpenses e:Item6 2022-02-01 2023-01-31 13163290 e:Item1 2023-02-01 2024-01-31 13163290 e:Item1 2022-02-01 2023-01-31 13163290 e:Item2 2023-02-01 2024-01-31 13163290 e:Item2 2022-02-01 2023-01-31 13163290 e:Item6 2023-02-01 2024-01-31 13163290 e:Item6 2022-02-01 2023-01-31 13163290 g:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 13163290













Carew Dental Limited

Directors' Report and Financial Statements

31 January 2024




 
Carew Dental Limited
 
 
Company information


Directors
M Carew 
J L Carew 




Registered number
13163290



Registered office
UNW LLP
Citygate

St James' Boulevard

Newcastle upon Tyne

NE1 4JE




Accountants
UNW LLP
Chartered Accountants

Citygate

St James' Boulevard

Newcastle upon Tyne

NE1 4JE





 
Carew Dental Limited
 

Contents



Page
Directors' report
 
 
1
Accountants' report
 
 
2
Statement of comprehensive income
 
 
3
Balance sheet
 
 
4 - 5
Notes to the financial statements
 
 
6 - 13
The following pages do not form part of the statutory financial statements:

 
 
Detailed profit and loss account and summaries
 
 
14 - 17

 


 
Carew Dental Limited
 

 
Directors' Report
Year ended 31 January 2024

The directors present their report and the financial statements for the year ended 31 January 2024.

Principal activity

The principal activity of the company during the period was the provision of dental practice services.

Directors

The directors who served during the year and up to the date of signing the financial statements were:

M Carew 
J L Carew 

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 27 September 2024 and signed on its behalf by:
 





M Carew
Director

1

 
Carew Dental Limited
 
 
  
Chartered accountants' aeport to the board of directors on the preparation of the unaudited statutory financial statements of Carew Dental Limited for the year ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carew Dental Limited for the year ended 31 January 2024 which comprise the statement of comprehensive income, the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Carew Dental Limited, as a body, in accordance with the terms of our engagement letter dated 26 May 2021Our work has been undertaken solely to prepare for your approval the financial statements of Carew Dental Limited  and state those matters that we have agreed to state to the board of directors of Carew Dental Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carew Dental Limited and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Carew Dental Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Carew Dental Limited. You consider that Carew Dental Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Carew Dental Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



UNW LLP
Chartered Accountants
Citygate
St James' Boulevard
Newcastle upon Tyne
NE1 4JE
27 September 2024
2

 
Carew Dental Limited
 
 
Statement of comprehensive income
Year ended 31 January 2024

2024
2023
£
£

Profit and loss account
  

Turnover
  
915,341
795,457

Cost of sales
  
(106,325)
(74,365)

Gross profit
  
809,016
721,092

Administrative expenses
  
(333,203)
(229,807)

Other operating income
  
-
430

Operating profit
  
475,813
491,715

Interest receivable and similar income
  
8,315
3,889

Interest payable and similar expenses
  
-
(1,166)

Profit before tax
  
484,128
494,438

Tax on profit
  
(117,635)
(89,810)

Profit for the financial year
  
366,493
404,628

There was no other comprehensive income for 2024 (2023:£nil).

3

 
Carew Dental Limited


Balance sheet
At 31 January 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
13,819
-

Tangible assets
 5 
127,797
131,124

  
141,616
131,124

Current assets
  

Stocks
  
23,961
9,866

Debtors
 6 
624,557
294,565

Cash at bank and in hand
  
93,297
347,555

  
741,815
651,986

Creditors: amounts falling due within one year
 7 
(192,383)
(140,756)

Net current assets
  
 
 
549,432
 
 
511,230

  
691,048
642,354

Provisions for liabilities
  

Deferred tax
  
(31,692)
(29,371)

Net assets
  
659,356
612,983


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
659,346
612,973

Shareholders' funds
  
659,356
612,983


4

 
Carew Dental Limited

    
Balance sheet (continued)
At 31 January 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2024.




M Carew
J L Carew
Director
Director

Company registered number: 13163290

The notes on pages 6 to 13 form part of these financial statements. 

5

 
Carew Dental Limited
 
 

Notes to the financial statements
Year ended 31 January 2024

1.


General information

Carew Dental Limited ("the company") is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England and Wales. The address of the registered office is UNW LLP, Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic
of Ireland' (FRS 102) and the Companies Act 2006.

 
2.2

Revenue

The turnover recognised in the profit and loss account represents private dental fee income receivable during the period.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

6

 
Carew Dental Limited
 

 
Notes to the financial statements
Year ended 31 January 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

7

 
Carew Dental Limited
 

 
Notes to the financial statements
Year ended 31 January 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Improvements to property
-
2%
straight line
Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

8

 
Carew Dental Limited
 

 
Notes to the financial statements
Year ended 31 January 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the
9

 
Carew Dental Limited
 

 
Notes to the financial statements
Year ended 31 January 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

10

 
Carew Dental Limited
 
 

Notes to the financial statements
Year ended 31 January 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023: 5).


4.


Intangible assets




Website

£



Cost


Additions
13,819



At 31 January 2024

13,819






Net book value



At 31 January 2024
13,819



At 31 January 2023
-



11

 
Carew Dental Limited
 
 

Notes to the financial statements
Year ended 31 January 2024

5.


Tangible fixed assets





Improvements to property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost 


At 1 February 2023
-
146,356
13,545
24,295
184,196


Additions
3,650
26,775
1,129
3,536
35,090



At 31 January 2024

3,650
173,131
14,674
27,831
219,286



Depreciation


At 1 February 2023
-
42,836
1,565
8,671
53,072


Charge for the year
23
28,027
1,827
8,540
38,417



At 31 January 2024

23
70,863
3,392
17,211
91,489



Net book value



At 31 January 2024
3,627
102,268
11,282
10,620
127,797



At 31 January 2023
-
103,520
11,980
15,624
131,124

12

 
Carew Dental Limited
 
 

Notes to the financial statements
Year ended 31 January 2024

6.


Debtors

2024
2023
£
£


Trade debtors
897
5,771

Amounts owed by group undertakings
150,000
-

Other debtors
462,764
283,274

Prepayments and accrued income
10,896
5,520

624,557
294,565



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
16,982
3,219

Corporation tax
115,314
81,903

Other taxation and social security
7,166
3,400

Other creditors
20,026
9,203

Accruals and deferred income
32,895
43,031

192,383
140,756



8.


Transactions with directors

During the year the directors operated a director's loan account to record the amounts due to and
from the company. At the end of the year the amount due to the company was £462,764 (2023: £283,274).


9.


Related party transactions

During the year the company operated an intercompany account with Carew Lettings Limited to record amounts due and from the company. At 31 January 2024, the company was owed £150,000 (2023:£nil) by Carew Lettings Limited.

13

 
Carew Dental Limited
 
 
Detailed profit and loss account
Year ended 31 January 2024

2024
2023
£
£

Turnover
  
915,341
795,457

Cost of sales
  
(106,325)
(74,365)

Gross profit
  
809,016
721,092

Gross profit %
88.4%
90.7%

Other operating income
  
-
430

Less: overheads
  

Administration expenses
  
(333,203)
(229,807)

Operating profit
  
475,813
491,715

Interest receivable
  
8,315
3,889

Interest payable
  
-
(1,166)

Tax on profit on ordinary activities
  
(117,635)
(89,810)

Profit for the year
  
366,493
404,628

14

 
Carew Dental Limited
 

 
SCHEDULE TO THE DETAILED ACCOUNTS
Year ended 31 January 2024
2024
2023
£
£

Turnover

Private income
817,180
730,227

Finance income
73,001
53,665

Practice plan income
24,464
10,499

Sundry sales
696
1,066

915,341
795,457


2024
2023
£
£

Cost of sales

Dental materials
41,268
22,771

Laboratory fees
33,216
19,598

Associate fees
11,956
570

Hygienist and therapist fees
18,858
18,093

Self employed assistant fees
-
12,537

Clinical waste
1,027
796

106,325
74,365


2024
2023
£
£

Other operating income

Insurance claims receivable
-
430

-
430


15

 
Carew Dental Limited
 

 
SCHEDULE TO THE DETAILED ACCOUNTS
Year ended 31 January 2024
2024
2023
£
£

Administration expenses

Directors salaries
12,570
9,880

Directors pension costs
111
110

Staff salaries
146,735
80,068

Staff pension costs
2,373
1,252

Staff training
8,801
685

Accountancy fees
6,387
5,233

Advertising
18,677
5,310

Computer costs
9,071
5,893

Travel and subsistence
4,056
5,256

Legal and professional fees
3,388
3,822

Insurance
1,008
892

Medical indemnity insurance
1,101
-

Trade subscriptions
4,739
9,267

Repairs and maintenance
7,596
9,606

Rent
20,167
18,333

Service charges
8,745
6,083

Printing, postage and stationery
3,889
1,841

Telephone
3,439
1,313

Sundry expenses
11,677
10,478

Cleaning
4,526
6,289

Use of home
624
364

Bad debts
617
1,940

Finance admin charges
5,918
3,593

Bank charges
8,570
6,441

Depreciation
38,418
35,858

333,203
229,807


2024
2023
£
£

Interest receivable

Bank interest receivable
2,659
1,172

Other interest receivable
5,656
2,717

8,315
3,889


16

 
Carew Dental Limited
 

 
SCHEDULE TO THE DETAILED ACCOUNTS
Year ended 31 January 2024
2024
2023
£
£

Interest payable

Bank overdraft interest payable
-
200

Bank loan interest payable
-
966

-
1,166


17