Registered number
08332047
Cranbrook House Dental Practice Limited
Report and Accounts
31 March 2024
Cranbrook House Dental Practice Limited
Registered number: 08332047
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 3,213 4,284
Current assets
Stocks 1,250 5,250
Debtors 5 52,487 -
Cash at bank and in hand 4,233 65,033
57,970 70,283
Creditors: amounts falling due within one year 6 (16,440) (12,192)
Net current assets 41,530 58,091
Total assets less current liabilities 44,743 62,375
Creditors: amounts falling due after more than one year 7 (7,217) (11,714)
Net assets 37,526 50,661
Capital and reserves
Called up share capital 100 100
Profit and loss account 37,426 50,561
Shareholders' funds 37,526 50,661
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr J Sharma
Director
Approved by the board on 3 October 2024
Cranbrook House Dental Practice Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
After reviewing the company’s expectations and future trading conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational
existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Grants
Grants are recognised in the profit or loss, receivable in line with expenditure with which they relate.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 240,000
At 31 March 2024 240,000
Amortisation
At 1 April 2023 240,000
At 31 March 2024 240,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 31,700
At 31 March 2024 31,700
Depreciation
At 1 April 2023 27,416
Charge for the year 1,071
At 31 March 2024 28,487
Net book value
At 31 March 2024 3,213
At 31 March 2023 4,284
5 Debtors 2024 2023
£ £
Director's Loan - interest charged at 7% per annum
Fully repayable within 5 years
52,487 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,634 5,400
Corporation tax 12,684 7,666
Other taxes and social security costs - (20)
Other creditors (878) (854)
16,440 12,192
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,217 11,714
8 Other information
Cranbrook House Dental Practice Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Carlton Road
Romford
Essex
RM2 5AA
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