Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Dr Richard Ian Caradine 21/12/2012 Dr Sian Aerona Herbert 21/12/2012 Dr Peter Stefanov Petrov 15/05/2023 12/05/2023 27 October 2024 The principal activity of the Company during the financial year was that of a dental practice. 08339559 2024-03-31 08339559 bus:Director1 2024-03-31 08339559 bus:Director2 2024-03-31 08339559 bus:Director3 2024-03-31 08339559 2023-03-31 08339559 core:CurrentFinancialInstruments 2024-03-31 08339559 core:CurrentFinancialInstruments 2023-03-31 08339559 core:ShareCapital 2024-03-31 08339559 core:ShareCapital 2023-03-31 08339559 core:RetainedEarningsAccumulatedLosses 2024-03-31 08339559 core:RetainedEarningsAccumulatedLosses 2023-03-31 08339559 core:Goodwill 2023-03-31 08339559 core:Goodwill 2024-03-31 08339559 core:PlantMachinery 2023-03-31 08339559 core:FurnitureFittings 2023-03-31 08339559 core:ComputerEquipment 2023-03-31 08339559 core:PlantMachinery 2024-03-31 08339559 core:FurnitureFittings 2024-03-31 08339559 core:ComputerEquipment 2024-03-31 08339559 2022-03-31 08339559 bus:OrdinaryShareClass1 2024-03-31 08339559 2023-04-01 2024-03-31 08339559 bus:FilletedAccounts 2023-04-01 2024-03-31 08339559 bus:SmallEntities 2023-04-01 2024-03-31 08339559 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08339559 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08339559 bus:Director1 2023-04-01 2024-03-31 08339559 bus:Director2 2023-04-01 2024-03-31 08339559 bus:Director3 2023-04-01 2024-03-31 08339559 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 08339559 core:Goodwill 2023-04-01 2024-03-31 08339559 core:PlantMachinery 2023-04-01 2024-03-31 08339559 core:FurnitureFittings 2023-04-01 2024-03-31 08339559 core:ComputerEquipment 2023-04-01 2024-03-31 08339559 2022-04-01 2023-03-31 08339559 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08339559 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08339559 (England and Wales)

COURTENAY DENTAL LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

COURTENAY DENTAL LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

COURTENAY DENTAL LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
COURTENAY DENTAL LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 36,749 45,773
36,749 45,773
Current assets
Stocks 3,250 2,850
Debtors 5 32,028 35,746
Cash at bank and in hand 368,781 282,508
404,059 321,104
Creditors: amounts falling due within one year 6 ( 188,522) ( 127,766)
Net current assets 215,537 193,338
Total assets less current liabilities 252,286 239,111
Provision for liabilities 7 ( 9,149) ( 11,413)
Net assets 243,137 227,698
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 243,135 227,696
Total shareholders' funds 243,137 227,698

For the financial year ending 31 March 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 Courtenay Dental Ltd (registered number: 08339559) were approved and authorised for issue by the Board of Directors on 27 October 2024. They were signed on its behalf by:

Dr Richard Ian Caradine
Director
COURTENAY DENTAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
COURTENAY DENTAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Courtenay Dental Ltd (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 Courtenay House 111 Station Road, Plympton, Plymouth, PL7 2AU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position date.

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % 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.

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 Statement of Income and Retained Earnings 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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 Statement of Financial Position 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 11 11

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 444,000 444,000
At 31 March 2024 444,000 444,000
Accumulated amortisation
At 01 April 2023 444,000 444,000
At 31 March 2024 444,000 444,000
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 April 2023 144,288 239 3,747 148,274
Additions 1,219 0 1,799 3,018
Disposals ( 7,926) 0 0 ( 7,926)
At 31 March 2024 137,581 239 5,546 143,366
Accumulated depreciation
At 01 April 2023 99,470 40 2,991 102,501
Charge for the financial year 11,282 50 264 11,596
Disposals ( 7,480) 0 0 ( 7,480)
At 31 March 2024 103,272 90 3,255 106,617
Net book value
At 31 March 2024 34,309 149 2,291 36,749
At 31 March 2023 44,818 199 756 45,773

5. Debtors

2024 2023
£ £
Other debtors 32,028 35,746

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 29,000 27,289
Amounts owed to directors 35,354 32,007
Accruals 3,750 3,520
Taxation and social security 26,163 34,046
Other creditors 94,255 30,904
188,522 127,766

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 11,413) ( 6,757)
Credited/(charged) to the Statement of Income and Retained Earnings 2,264 ( 4,656)
At the end of financial year ( 9,149) ( 11,413)

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 A ordinary shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amount owed to the directors 35,354 32,007

No interest is charged on the balance and the amount is repayable in full on demand.