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COMPANY REGISTRATION NUMBER: 11331702
Crown Dental Care Limited
Unaudited financial statements
31 March 2024
Crown Dental Care Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
452,470
514,123
Tangible assets
6
396,828
348,465
Investments
7
1,581,908
1,581,910
-----------
-----------
2,431,206
2,444,498
Current assets
Stocks
5,000
5,000
Debtors
8
172,735
153,710
Cash at bank and in hand
462,891
407,152
---------
---------
640,626
565,862
Creditors: Amounts falling due within one year
9
( 906,987)
( 783,494)
---------
---------
Net current liabilities
( 266,361)
( 217,632)
-----------
-----------
Total assets less current liabilities
2,164,845
2,226,866
Creditors: Amounts falling due after more than one year
10
( 1,886,328)
( 2,042,713)
Provisions
Taxation including deferred tax
( 37,152)
( 20,837)
-----------
-----------
Net assets
241,365
163,316
-----------
-----------
Capital and reserves
Called up share capital
4
4
Profit and loss account
241,361
163,312
---------
---------
Shareholders funds
241,365
163,316
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Crown Dental Care Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr R Johal
Director
Company registration number: 11331702
Crown Dental Care Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sixty Six North Quay, Great Yarmouth, Norfolk, NR30 1HE. The company's trading addresses are 1 Lawrence Ave, Middlewich, CW10 9DP and 27 Market Street, Rhosllanerchrugog, Wrexham, LL14 1AH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and by their nature, will rarely equal the related actual outcome. They key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are a follows: Amortisation of goodwill is estimated over 10 years. The carrying value at the year end was £452,470(2023:£514,123).
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
15% reducing balance
Equipment
-
15% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase contracts
Assets held under hire purchase contract are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payment is treated as a liability and the interest is charged to the income statement on a reducing balance basis.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 18 (2023: 17 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
616,528
---------
Amortisation
At 1 April 2023
102,405
Charge for the year
61,653
---------
At 31 March 2024
164,058
---------
Carrying amount
At 31 March 2024
452,470
---------
At 31 March 2023
514,123
---------
6. Tangible assets
Freehold property
Plant and machinery
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
256,639
113,768
9,173
379,580
Additions
15,564
50,264
3,089
68,917
---------
---------
-------
---------
At 31 March 2024
272,203
164,032
12,262
448,497
---------
---------
-------
---------
Depreciation
At 1 April 2023
5,133
23,801
2,181
31,115
Charge for the year
2,679
16,637
1,238
20,554
---------
---------
-------
---------
At 31 March 2024
7,812
40,438
3,419
51,669
---------
---------
-------
---------
Carrying amount
At 31 March 2024
264,391
123,594
8,843
396,828
---------
---------
-------
---------
At 31 March 2023
251,506
89,967
6,992
348,465
---------
---------
-------
---------
7. Investments
Other investments other than loans
£
Cost
At 1 April 2023
1,581,910
Disposals
( 2)
-----------
At 31 March 2024
1,581,908
-----------
Impairment
At 1 April 2023 and 31 March 2024
-----------
Carrying amount
At 31 March 2024
1,581,908
-----------
At 31 March 2023
1,581,910
-----------
8. Debtors
2024
2023
£
£
Trade debtors
67,968
66,210
Other debtors
104,767
87,500
---------
---------
172,735
153,710
---------
---------
9. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
132,466
117,539
Trade creditors
93,036
37,441
Amounts owed to group undertakings and undertakings in which the company has a participating interest
417,843
374,428
Social security and other taxes
79,729
81,024
Other creditors
183,913
173,062
---------
---------
906,987
783,494
---------
---------
Bank loans and overdrafts are secured on fixed and floating charges against the company's assets.
10. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,842,439
1,987,834
Other creditors
43,889
54,879
-----------
-----------
1,886,328
2,042,713
-----------
-----------
Bank loans and overdrafts are secured on fixed and floating charges against the company's assets. Included within creditors: amounts falling due after more than one year is an amount of £1,340,906(2023: £1,536,008) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
11. Related party transactions
Tarporley Dental Centre Limited is a wholly owned subsidiary of Crown Dental Care Limited . The company has a balance owed of £417,843 (2023: £374,428) to Tarporley Dental Centre Limited at the year end.