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REGISTERED NUMBER: 09433475 (England and Wales)












Unaudited Financial Statements

for the Year Ended 29 February 2024

for

SKY Dental Services Limited

SKY Dental Services Limited (Registered number: 09433475)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKY Dental Services Limited

Company Information
for the year ended 29 February 2024







DIRECTOR: Dr K M Abdel Khalek





REGISTERED OFFICE: Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR





REGISTERED NUMBER: 09433475 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

SKY Dental Services Limited (Registered number: 09433475)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 310,704 336,596
Property, plant and equipment 5 92,078 38,466
402,782 375,062

CURRENT ASSETS
Inventories 1,800 1,650
Debtors 6 17,363 14,408
Cash at bank 63,771 45,309
82,934 61,367
CREDITORS
Amounts falling due within one year 7 82,646 60,561
NET CURRENT ASSETS 288 806
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,070

375,868

CREDITORS
Amounts falling due after more than
one year

8

(349,533

)

(322,456

)

ACCRUALS AND DEFERRED INCOME (20,809 ) (16,059 )
NET ASSETS 32,728 37,353

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 32,608 37,233
32,728 37,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

SKY Dental Services Limited (Registered number: 09433475)

Balance Sheet - continued
29 February 2024


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

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

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:





Dr K M Abdel Khalek - Director


SKY Dental Services Limited (Registered number: 09433475)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

SKY Dental Services 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 2022, is being amortised evenly over its estimated useful life of fifteen 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
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 Income Statement, 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.

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

SKY Dental Services Limited (Registered number: 09433475)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 388,380
AMORTISATION
At 1 March 2023 51,784
Charge for year 25,892
At 29 February 2024 77,676
NET BOOK VALUE
At 29 February 2024 310,704
At 28 February 2023 336,596

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 44,950 7,776 2,616 55,342
Additions 65,178 9,982 2,191 77,351
At 29 February 2024 110,128 17,758 4,807 132,693
DEPRECIATION
At 1 March 2023 13,651 1,555 1,670 16,876
Charge for year 19,295 3,241 1,203 23,739
At 29 February 2024 32,946 4,796 2,873 40,615
NET BOOK VALUE
At 29 February 2024 77,182 12,962 1,934 92,078
At 28 February 2023 31,299 6,221 946 38,466

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,005 7,908
Other debtors 14,358 6,500
17,363 14,408

SKY Dental Services Limited (Registered number: 09433475)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,574 22,417
Hire purchase contracts 12,253 -
Trade creditors 6,336 4,257
Taxation and social security 40,650 27,588
Other creditors 4,833 6,299
82,646 60,561

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 303,882 322,456
Hire purchase contracts 45,651 -
349,533 322,456

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 219,744 242,381

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Dr K M Abdel Khalek
Balance outstanding at start of year (190 ) 9,491
Amounts advanced 8,021 150,509
Amounts repaid - (160,190 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,831 (190 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is Dr K M Abdel Khalek.