Company registration number 12488747 (England and Wales)
OCEAN DENTAL CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
OCEAN DENTAL CARE LIMITED
COMPANY INFORMATION
Directors
Mr C Manlow
Dr A J Pugsley
Company number
12488747
Accountants
SKS Hilldean Limited
Unit 16
Holyrood Close
Poole
Dorset
BH17 7FJ
Registered office
1-2 Lansdowne House
Christchurch Road
BOURNEMOUTH
Dorset
BH1 3JP
OCEAN DENTAL CARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
OCEAN DENTAL CARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
4
180,000
210,000
Tangible assets
5
242,950
248,123
422,950
458,123
Current assets
Stocks
5,571
4,173
Debtors
6
1
-
0
Cash at bank and in hand
63,626
67,469
69,198
71,642
Creditors: amounts falling due within one year
7
(196,881)
(295,999)
Net current liabilities
(127,683)
(224,357)
Total assets less current liabilities
295,267
233,766
Creditors: amounts falling due after more than one year
8
(32,108)
(41,813)
Net assets
263,159
191,953
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
263,059
191,853
Total equity
263,159
191,953

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

OCEAN DENTAL CARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 November 2024 and are signed on its behalf by:
Mr C Manlow
Dr A J Pugsley
Director
Director
Company registration number 12488747 (England and Wales)
OCEAN DENTAL CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Ocean Dental Care Limited is a private company limited by shares incorporated in England and Wales. The registered office is .

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 Years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance method
Fixtures and fittings
25% reducing balance method
Computers
25% reducing balance method
1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

OCEAN DENTAL CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.
2
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
7,831
12,279
Amortisation of intangible assets
30,000
30,000
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Employees
8
8
OCEAN DENTAL CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
300,000
Amortisation and impairment
At 1 April 2023
90,000
Amortisation charged for the year
30,000
At 31 March 2024
120,000
Carrying amount
At 31 March 2024
180,000
At 31 March 2023
210,000
5
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2023
219,454
250,267
21,486
32,042
523,249
Additions
-
0
-
0
498
2,160
2,658
At 31 March 2024
219,454
250,267
21,984
34,202
525,907
Depreciation and impairment
At 1 April 2023
-
0
229,169
18,564
27,393
275,126
Depreciation charged in the year
-
0
5,275
854
1,702
7,831
At 31 March 2024
-
0
234,444
19,418
29,095
282,957
Carrying amount
At 31 March 2024
219,454
15,823
2,566
5,107
242,950
At 31 March 2023
219,454
21,098
2,922
4,649
248,123
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1
-
0
OCEAN DENTAL CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans
9,753
9,753
Trade creditors
15,796
15,703
Corporation tax
54,322
40,985
Other taxation and social security
(1,378)
932
Other creditors
114,985
225,737
Accruals and deferred income
3,403
2,889
196,881
295,999
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
32,108
41,813
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