23 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 722,154 512,683 25,440 538,123 184,031 209,471 xbrli:pure xbrli:shares iso4217:GBP 07497146 2023-04-01 2024-03-31 07497146 2024-03-31 07497146 2023-03-31 07497146 2022-04-01 2023-03-31 07497146 2023-03-31 07497146 2022-03-31 07497146 bus:Director1 2023-04-01 2024-03-31 07497146 core:NetGoodwill 2023-03-31 07497146 core:NetGoodwill 2024-03-31 07497146 core:LandBuildings 2023-03-31 07497146 core:FurnitureFittings 2023-03-31 07497146 core:LandBuildings 2024-03-31 07497146 core:FurnitureFittings 2024-03-31 07497146 core:LandBuildings 2023-04-01 2024-03-31 07497146 core:FurnitureFittings 2023-04-01 2024-03-31 07497146 core:WithinOneYear 2024-03-31 07497146 core:WithinOneYear 2023-03-31 07497146 core:AfterOneYear 2024-03-31 07497146 core:AfterOneYear 2023-03-31 07497146 core:ShareCapital 2024-03-31 07497146 core:ShareCapital 2023-03-31 07497146 core:RetainedEarningsAccumulatedLosses 2024-03-31 07497146 core:RetainedEarningsAccumulatedLosses 2023-03-31 07497146 core:NetGoodwill 2023-04-01 2024-03-31 07497146 core:NetGoodwill 2023-03-31 07497146 core:LandBuildings 2023-03-31 07497146 core:FurnitureFittings 2023-03-31 07497146 bus:SmallEntities 2023-04-01 2024-03-31 07497146 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07497146 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07497146 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07497146 bus:FullAccounts 2023-04-01 2024-03-31 07497146 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 07497146 core:AfterOneYear 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 07497146
Simdent Dental Care Limited
Filleted Unaudited Financial Statements
31 March 2024
Simdent Dental Care Limited
Balance Sheet
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
184,031
209,471
Tangible assets
6
484,928
471,377
---------
---------
668,959
680,848
Current assets
Stocks
29,514
30,220
Debtors
7
45,965
110,268
Cash at bank and in hand
298,060
285,321
---------
---------
373,539
425,809
Creditors: amounts falling due within one year
8
486,845
362,525
---------
---------
Net current (liabilities)/assets
( 113,306)
63,284
---------
---------
Total assets less current liabilities
555,653
744,132
Creditors: amounts falling due after more than one year
9
228,170
318,513
Provisions
Taxation including deferred tax
65,820
50,920
---------
---------
Net assets
261,663
374,699
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
261,563
374,599
---------
---------
Shareholders funds
261,663
374,699
---------
---------
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 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 members have not required the company to obtain an audit of its financial statements for the year 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 .
Simdent Dental Care Limited
Balance Sheet (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
Dr S Shah
Director
Company registration number: 07497146
Simdent Dental Care Limited
Notes to the Financial Statements
Year ended 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 Kimberley House, 31 Burnt Oak Broadway, Edgware, London, HA8 5LD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
18 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Short leasehold property
-
10 years
Fixtures, fittings and equipment
-
20% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making an allowance for obsolete and slow moving items.
Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
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 entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2023: 19 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
722,154
---------
Amortisation
At 1 April 2023
512,683
Charge for the year
25,440
---------
At 31 March 2024
538,123
---------
Carrying amount
At 31 March 2024
184,031
---------
At 31 March 2023
209,471
---------
6. Tangible assets
Land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost
At 1 April 2023
278,294
526,429
804,723
Additions
43,986
57,704
101,690
Disposals
( 290)
( 290)
---------
---------
---------
At 31 March 2024
322,280
583,843
906,123
---------
---------
---------
Depreciation
At 1 April 2023
27,827
305,519
333,346
Charge for the year
32,230
55,676
87,906
Disposals
( 57)
( 57)
---------
---------
---------
At 31 March 2024
60,057
361,138
421,195
---------
---------
---------
Carrying amount
At 31 March 2024
262,223
222,705
484,928
---------
---------
---------
At 31 March 2023
250,467
220,910
471,377
---------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
2,400
Other debtors
43,565
110,268
--------
---------
45,965
110,268
--------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
92,340
91,733
Trade creditors
281,826
208,562
Corporation tax
1,124
17,909
Social security and other taxes
11,333
1,309
Other creditors
100,222
43,012
---------
---------
486,845
362,525
---------
---------
Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £79,366 (2023: £70,767). The bank loan is secured by a legal charge over the company's assets, a debenture granted by the company and a guarantee by the director. The finance leases are secured on the assets concerned.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
143,374
222,279
Other creditors
84,796
96,234
---------
---------
228,170
318,513
---------
---------
Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £228,170 (2023: £318,476). The bank loan is secured by a legal charge over the company's assets, a debenture granted by the company and a guarantee by the director. The finance leases are secured on the assets concerned.
10. Directors' advances, credits and guarantees
As at 1 April 2023 Amount advanced Amount repaid At 31 March 2024
£ £ £ £
Director's advances (36) 249,047 (229,103) 19,908