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REGISTERED NUMBER: 05359263 (England and Wales)

















CYGNET HOUSE DENTAL STUDIO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CYGNET HOUSE DENTAL STUDIO LIMITED (REGISTERED NUMBER: 05359263)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CYGNET HOUSE DENTAL STUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Dr M Clark





REGISTERED OFFICE: Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB





BUSINESS ADDRESS: Grace Swan Close
Spilsby
Lincolnshire
PE23 5LT





REGISTERED NUMBER: 05359263 (England and Wales)





ACCOUNTANTS: Socius Accountants Limited
Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB

CYGNET HOUSE DENTAL STUDIO LIMITED (REGISTERED NUMBER: 05359263)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,000 40,000
Property, plant and equipment 5 373,843 357,555
Investments 6 95,000 -
498,843 397,555

CURRENT ASSETS
Inventories 3,570 3,400
Debtors 522,493 541,526
Cash at bank and in hand 415,334 313,960
941,397 858,886
CREDITORS
Amounts falling due within one year 110,176 78,811
NET CURRENT ASSETS 831,221 780,075
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,330,064

1,177,630

CREDITORS
Amounts falling due after more than one year 7 (127,771 ) (123,447 )

PROVISIONS FOR LIABILITIES (35,464 ) (21,808 )
NET ASSETS 1,166,829 1,032,375

CAPITAL AND RESERVES
Called up share capital 2,100 2,100
Retained earnings 1,164,729 1,030,275
1,166,829 1,032,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CYGNET HOUSE DENTAL STUDIO LIMITED (REGISTERED NUMBER: 05359263)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 July 2024 and were signed by:





Dr M Clark - Director


CYGNET HOUSE DENTAL STUDIO LIMITED (REGISTERED NUMBER: 05359263)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Cygnet House Dental Studio Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 1% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - straight line over 3 years and 30% on reducing balance
Motor vehicles - 25% on reducing balance
Dental equipment - 30% on reducing balance and 15% on reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CYGNET HOUSE DENTAL STUDIO LIMITED (REGISTERED NUMBER: 05359263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 200,000
AMORTISATION
At 1 April 2023 160,000
Amortisation for year 10,000
At 31 March 2024 170,000
NET BOOK VALUE

At 31 March 2024 30,000
At 31 March 2023 40,000

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 April 2023 568,927
Additions 108,192
Disposals (67,080 )
At 31 March 2024 610,039
DEPRECIATION
At 1 April 2023 211,372
Charge for year 41,943
Eliminated on disposal (17,119 )
At 31 March 2024 236,196
NET BOOK VALUE
At 31 March 2024 373,843
At 31 March 2023 357,555

CYGNET HOUSE DENTAL STUDIO LIMITED (REGISTERED NUMBER: 05359263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 73,566
Additions 102,500
Transfer to ownership (46,281 )
At 31 March 2024 129,785
DEPRECIATION
At 1 April 2023 40,605
Charge for year 15,079
Transfer to ownership (39,468 )
At 31 March 2024 16,216
NET BOOK VALUE
At 31 March 2024 113,569
At 31 March 2023 32,961

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
Additions 95,000
At 31 March 2024 95,000
NET BOOK VALUE
At 31 March 2024 95,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 50,518 63,290

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 116,712 129,484
Hire purchase contracts 43,774 13,715
160,486 143,199

The loans are secured by legal charges over the company's trade and assets.

CYGNET HOUSE DENTAL STUDIO LIMITED (REGISTERED NUMBER: 05359263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Dr M Clark
Balance outstanding at start of year 333,628 315,233
Amounts advanced 59,845 131,024
Amounts repaid (80,015 ) (112,629 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 313,458 333,628

All advances made to directors are unsecured, repayable on demand and with no interest charged.