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Company No: 05912050 (England and Wales)

ENDSLEIGH DENTAL PRACTICES LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ENDSLEIGH DENTAL PRACTICES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ENDSLEIGH DENTAL PRACTICES LIMITED

BALANCE SHEET

As at 30 April 2024
ENDSLEIGH DENTAL PRACTICES LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 593,634 542,294
593,634 542,294
Current assets
Stocks 11,616 10,560
Debtors 5 288,270 313,113
Cash at bank and in hand 207,434 116,478
507,320 440,151
Creditors: amounts falling due within one year 6 ( 230,865) ( 173,597)
Net current assets 276,455 266,554
Total assets less current liabilities 870,089 808,848
Creditors: amounts falling due after more than one year 7 ( 116,283) ( 99,211)
Provision for liabilities ( 48,303) ( 27,579)
Net assets 705,503 682,058
Capital and reserves
Called-up share capital 2,010 2,010
Profit and loss account 703,493 680,048
Total shareholders' funds 705,503 682,058

For the financial year ending 30 April 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 Endsleigh Dental Practices Limited (registered number: 05912050) were approved and authorised for issue by the Board of Directors on 05 November 2024. They were signed on its behalf by:

Dr P E Joslin
Director
ENDSLEIGH DENTAL PRACTICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ENDSLEIGH DENTAL PRACTICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 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

Endsleigh Dental Practices 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 17 Newport Road, Barnstaple, EX32 9BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 comprises the fair value of the consideration received or receivable for the provision of dental services in the ordinary course of the company’s activities. Turnover is shown net of sales, 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.

Employee benefits

Defined contribution schemes
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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 10 years straight line
Goodwill

Goodwill arises on business combinations 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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:

Land and buildings not depreciated
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 15 % reducing balance

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.

The directors, having assessed the anticipated residual value of the land and buildings, together with an annual maintenance programme believe the current value to be in excess of the carrying value and so no depreciation has been charged.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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 Profit and Loss Account 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 manufacturing 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 19

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 1,100,000 1,100,000
At 30 April 2024 1,100,000 1,100,000
Accumulated amortisation
At 01 May 2023 1,100,000 1,100,000
At 30 April 2024 1,100,000 1,100,000
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Computer equipment Total
£ £ £ £ £
Cost
At 01 May 2023 400,000 196,095 96,979 49,363 742,437
Additions 0 90,692 0 0 90,692
Disposals 0 ( 2,000) 0 0 ( 2,000)
At 30 April 2024 400,000 284,787 96,979 49,363 831,129
Accumulated depreciation
At 01 May 2023 0 146,032 8,082 46,029 200,143
Charge for the financial year 0 14,619 22,224 509 37,352
At 30 April 2024 0 160,651 30,306 46,538 237,495
Net book value
At 30 April 2024 400,000 124,136 66,673 2,825 593,634
At 30 April 2023 400,000 50,063 88,897 3,334 542,294

5. Debtors

2024 2023
£ £
Trade debtors 90,735 77,954
Other debtors 197,535 235,159
288,270 313,113

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,988 21,583
Trade creditors 20,215 21,688
Taxation and social security 168,140 112,969
Obligations under finance leases and hire purchase contracts 16,351 6,571
Other creditors 15,171 10,786
230,865 173,597

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

2024 2023
£ £
Bank loans 20,000 30,000
Obligations under finance leases and hire purchase contracts 96,283 69,211
116,283 99,211

Obligations under finance leases and hire purchase contracts are secured on the assets to which the contracts relate.

8. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 May 2023, the balance owed by Dr P E Joslin (a director) was £111,790. During the year, £97,088 was advanced to the director, and £114,971 was repaid by the director. At 30 April 2023, the balance owed by Dr P E Joslin was £93,907.

At 1 May 2022, the balance owed by Dr P E Joslin (a director) was £55,481. During the year, £114,662 was advanced to the director, and £58,353 was repaid by the director. At 30 April 2023, the balance owed by Dr P E Joslin was £111,790.

At 1 May 2023, the balance owed by Dr A R McLeish (a director) was £111,790. During the year, £118,789 was advanced to the director, and £136,672 was repaid by the director. At 30 April 2024, the balance owed by Dr A R McLeish was £93,907.

At 1 May 2022, the balance owed by Dr A R McLeish (a director) was £55,481. During the year, £114,662 was advanced to the director, and £76,268 was repaid by the director. At 30 April 2023, the balance owed by Dr A R McLeish was £111,790.