Time For Teeth Limited 07262547 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Dentistry services Digita Accounts Production Advanced 6.30.9574.0 true true 07262547 2023-06-01 2024-05-31 07262547 2024-05-31 07262547 bus:OrdinaryShareClass1 2024-05-31 07262547 core:CurrentFinancialInstruments 2024-05-31 07262547 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 07262547 core:FurnitureFittingsToolsEquipment 2024-05-31 07262547 core:MotorVehicles 2024-05-31 07262547 bus:SmallEntities 2023-06-01 2024-05-31 07262547 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 07262547 bus:FilletedAccounts 2023-06-01 2024-05-31 07262547 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07262547 bus:RegisteredOffice 2023-06-01 2024-05-31 07262547 bus:Director1 2023-06-01 2024-05-31 07262547 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 07262547 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07262547 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 07262547 core:MotorVehicles 2023-06-01 2024-05-31 07262547 core:OfficeEquipment 2023-06-01 2024-05-31 07262547 core:ToolsEquipment 2023-06-01 2024-05-31 07262547 countries:England 2023-06-01 2024-05-31 07262547 2023-05-31 07262547 core:FurnitureFittingsToolsEquipment 2023-05-31 07262547 core:MotorVehicles 2023-05-31 07262547 2022-06-01 2023-05-31 07262547 2023-05-31 07262547 bus:OrdinaryShareClass1 2023-05-31 07262547 core:CurrentFinancialInstruments 2023-05-31 07262547 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 07262547 core:FurnitureFittingsToolsEquipment 2023-05-31 07262547 core:MotorVehicles 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07262547

Time For Teeth Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Time For Teeth Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Time For Teeth Limited

(Registration number: 07262547)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

190,907

210,877

Current assets

 

Debtors

5

1,714,085

1,325,996

Cash at bank and in hand

 

556,906

846,212

 

2,270,991

2,172,208

Creditors: Amounts falling due within one year

6

(990,945)

(777,133)

Net current assets

 

1,280,046

1,395,075

Total assets less current liabilities

 

1,470,953

1,605,952

Provisions for liabilities

(47,000)

(52,000)

Net assets

 

1,423,953

1,553,952

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1,423,853

1,553,852

Shareholders' funds

 

1,423,953

1,553,952

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 November 2024
 

Mr Dilip Chawla
Director

 

Time For Teeth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
80 Bridgford Road
West Bridgford
Nottingham
NG2 6AX
England

These financial statements were authorised for issue by the director on 4 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Time For Teeth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Dental Equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 102 (2023 - 92).

 

Time For Teeth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

394,276

31,812

426,088

Additions

43,657

-

43,657

At 31 May 2024

437,933

31,812

469,745

Depreciation

At 1 June 2023

196,820

18,391

215,211

Charge for the year

60,272

3,355

63,627

At 31 May 2024

257,092

21,746

278,838

Carrying amount

At 31 May 2024

180,841

10,066

190,907

At 31 May 2023

197,456

13,421

210,877

5

Debtors

Current

2024
£

2023
£

Trade debtors

987,660

886,850

Other debtors

726,425

439,146

 

1,714,085

1,325,996

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

458,315

419,741

Taxation and social security

120,740

165,636

Accruals and deferred income

9,697

16,577

Other creditors

402,193

175,179

990,945

777,133

 

Time For Teeth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Financial commitments, guarantees and contingencies

The company as a lessee

At 31 May 2024, the company had annual commitments of £98,800 (2023 - £62,400). in connection with a lease on the property.