Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Dr Amish Bhayani 30/03/2015 Dr Andre Faro Leite 30/03/2015 19 October 2024 The principal activity of the Company during the financial year was that of a dental practice. 09517446 2024-03-31 09517446 bus:Director1 2024-03-31 09517446 bus:Director2 2024-03-31 09517446 2023-03-31 09517446 core:CurrentFinancialInstruments 2024-03-31 09517446 core:CurrentFinancialInstruments 2023-03-31 09517446 core:Non-currentFinancialInstruments 2024-03-31 09517446 core:Non-currentFinancialInstruments 2023-03-31 09517446 core:ShareCapital 2024-03-31 09517446 core:ShareCapital 2023-03-31 09517446 core:RetainedEarningsAccumulatedLosses 2024-03-31 09517446 core:RetainedEarningsAccumulatedLosses 2023-03-31 09517446 core:Goodwill 2023-03-31 09517446 core:OtherResidualIntangibleAssets 2023-03-31 09517446 core:Goodwill 2024-03-31 09517446 core:OtherResidualIntangibleAssets 2024-03-31 09517446 core:PlantMachinery 2023-03-31 09517446 core:Vehicles 2023-03-31 09517446 core:OfficeEquipment 2023-03-31 09517446 core:PlantMachinery 2024-03-31 09517446 core:Vehicles 2024-03-31 09517446 core:OfficeEquipment 2024-03-31 09517446 bus:OrdinaryShareClass1 2024-03-31 09517446 bus:OrdinaryShareClass2 2024-03-31 09517446 2023-04-01 2024-03-31 09517446 bus:FilletedAccounts 2023-04-01 2024-03-31 09517446 bus:SmallEntities 2023-04-01 2024-03-31 09517446 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09517446 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09517446 bus:Director1 2023-04-01 2024-03-31 09517446 bus:Director2 2023-04-01 2024-03-31 09517446 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 09517446 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 09517446 core:Goodwill 2023-04-01 2024-03-31 09517446 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 09517446 core:Vehicles 2023-04-01 2024-03-31 09517446 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 09517446 2022-04-01 2023-03-31 09517446 core:Goodwill 1 2023-04-01 2024-03-31 09517446 core:OtherResidualIntangibleAssets 1 2023-04-01 2024-03-31 09517446 1 2023-04-01 2024-03-31 09517446 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 09517446 core:PlantMachinery 2023-04-01 2024-03-31 09517446 core:OfficeEquipment 2023-04-01 2024-03-31 09517446 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 09517446 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09517446 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09517446 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 09517446 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09517446 (England and Wales)

INSPIRED DENTAL CARE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

INSPIRED DENTAL CARE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

INSPIRED DENTAL CARE LIMITED

BALANCE SHEET

As at 31 March 2024
INSPIRED DENTAL CARE LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 215,704 235,525
Tangible assets 4 204,327 263,126
420,031 498,651
Current assets
Stocks 23,245 11,324
Debtors 5 36,045 37,212
Cash at bank and in hand 89,117 174
148,407 48,710
Creditors: amounts falling due within one year 6 ( 325,681) ( 205,599)
Net current liabilities (177,274) (156,889)
Total assets less current liabilities 242,757 341,762
Creditors: amounts falling due after more than one year 7 ( 125,881) ( 239,804)
Provision for liabilities ( 51,000) ( 65,782)
Net assets 65,876 36,176
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 65,776 36,076
Total shareholders' funds 65,876 36,176

For the financial year 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 financial statements of Inspired Dental Care Limited (registered number: 09517446) were approved and authorised for issue by the Board of Directors on 19 October 2024. They were signed on its behalf by:

Dr Amish Bhayani
Director
INSPIRED DENTAL CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
INSPIRED DENTAL CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Inspired Dental Care Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 246 High Street Devon, Exeter, EX4 3NZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Other intangible assets 3 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 20 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 20 % reducing balance
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 16

3. Intangible assets

Goodwill Other intangible assets Total
£ £ £
Cost
At 01 April 2023 382,700 7,206 389,906
0 0 0
At 31 March 2024 382,700 7,206 389,906
Accumulated amortisation
At 01 April 2023 148,298 6,083 154,381
Charge for the financial year 19,135 686 19,821
At 31 March 2024 167,433 6,769 174,202
Net book value
At 31 March 2024 215,267 437 215,704
At 31 March 2023 234,402 1,123 235,525

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2023 212,366 173,836 50,550 436,752
Additions 0 0 3,817 3,817
At 31 March 2024 212,366 173,836 54,367 440,569
Accumulated depreciation
At 01 April 2023 95,903 37,677 40,046 173,626
Charge for the financial year 30,212 27,231 5,173 62,616
At 31 March 2024 126,115 64,908 45,219 236,242
Net book value
At 31 March 2024 86,251 108,928 9,148 204,327
At 31 March 2023 116,463 136,159 10,504 263,126

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 1,367 0
Other debtors 34,678 37,212
36,045 37,212

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 37,097 38,199
Trade creditors 38,792 36,310
Taxation and social security 113,012 47,995
Obligations under finance leases and hire purchase contracts 66,567 10,238
Other creditors 70,213 72,857
325,681 205,599

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 70,256 107,712
Obligations under finance leases and hire purchase contracts (secured) 55,625 132,092
125,881 239,804

The company's bank has a fixed and floating charge placed on the company in respect of the loan provided to it. Hire purchase agreements are secured against the assets to which they relate.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary shares of £ 1.00 each 50 50
50 Ordinary A shares of £ 1.00 each 50 50
100 100

9. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 101,394 144,849

The above commitments represents non-cancellable lease arrangements in respect of property from which the company operates.