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Registered number: 09345730
South West Dental Clinics Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09345730
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 26,349 48,600
Tangible Assets 5 983,094 944,426
1,009,443 993,026
CURRENT ASSETS
Stocks 6 15,000 10,000
Debtors 7 992,970 918,381
Cash at bank and in hand 142,024 1,200
1,149,994 929,581
Creditors: Amounts Falling Due Within One Year 8 (434,226 ) (384,826 )
NET CURRENT ASSETS (LIABILITIES) 715,768 544,755
TOTAL ASSETS LESS CURRENT LIABILITIES 1,725,211 1,537,781
Creditors: Amounts Falling Due After More Than One Year 9 (598,326 ) (620,977 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (155,710 ) (139,753 )
NET ASSETS 971,175 777,051
CAPITAL AND RESERVES
Called up share capital 10 110 110
Profit and Loss Account 971,065 776,941
SHAREHOLDERS' FUNDS 971,175 777,051
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Peter Davis
Director
17 October 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
South West Dental Clinics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09345730 . The registered office is 3 Atlas House, West Devon Business Park, Tavistock, PL19 9DP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover primarily comprises the fair value of the consideration received for the provision of dental services in the ordinary course of the company’s activities.  Turnover is shown net of value added tax, rebates and discounts.  The company recognises revenue when the service are performed, as payment is received on the date of the service.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software. It is amortised to profit and loss account over its estimated economic life of 3 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stock is stated at the lower of costs incurred, and estimated selling price, of the dental consumables used in patient treatments.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 11)
11 11
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 243,000 16,280 259,280
Additions - 2,336 2,336
As at 31 March 2024 243,000 18,616 261,616
Amortisation
As at 1 April 2023 194,400 16,280 210,680
Provided during the period 24,300 287 24,587
As at 31 March 2024 218,700 16,567 235,267
Net Book Value
As at 31 March 2024 24,300 2,049 26,349
As at 1 April 2023 48,600 - 48,600
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 767,140 329,315 114,176 27,967 1,238,598
Additions - 90,224 24,256 5,044 119,524
As at 31 March 2024 767,140 419,539 138,432 33,011 1,358,122
Depreciation
As at 1 April 2023 25,736 176,100 67,841 24,495 294,172
Provided during the period 14,324 49,265 14,611 2,656 80,856
As at 31 March 2024 40,060 225,365 82,452 27,151 375,028
Net Book Value
As at 31 March 2024 727,080 194,174 55,980 5,860 983,094
As at 1 April 2023 741,404 153,215 46,335 3,472 944,426
6. Stocks
2024 2023
£ £
Stock 15,000 10,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,875 5,016
Other debtors 988,095 913,365
992,970 918,381
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,022 9,832
Trade creditors 88,294 99,137
Bank loans and overdrafts 76,128 101,372
Other creditors 114,058 61,061
Taxation and social security 133,724 113,424
434,226 384,826
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 49,882 28,221
Bank loans 548,444 592,756
598,326 620,977
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 264,671 324,731
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 110 110
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Dr Peter Davis 458,038 371,658 248,750 - 580,946
The above loan is unsecured, interest free and repayable on demand.
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