2023-04-012024-03-312024-03-31false06534683REGENCY HOUSE DENTAL PRACTICE 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REGENCY HOUSE DENTAL PRACTICE LIMITED

Registered Number
06534683
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

REGENCY HOUSE DENTAL PRACTICE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

RAM, Asha Rani
RAM, Raj Vinder

Company Secretary

RAM, Asha Rani

Registered Address

Regency House
Station Road
Stone
ST15 8JP

Registered Number

06534683 (England and Wales)
REGENCY HOUSE DENTAL PRACTICE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3109,964137,468
Tangible assets4128,872117,141
238,836254,609
Current assets
Stocks56,20013,694
Debtors634,24741,712
Cash at bank and on hand59,97260,953
100,419116,359
Creditors amounts falling due within one year7(182,826)(154,644)
Net current assets (liabilities)(82,407)(38,285)
Total assets less current liabilities156,429216,324
Creditors amounts falling due after one year8(45,000)(64,037)
Provisions for liabilities10(29,942)(26,929)
Net assets81,487125,358
Capital and reserves
Called up share capital1,0001,000
Profit and loss account80,487124,358
Shareholders' funds81,487125,358
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2024, and are signed on its behalf by:
RAM, Asha Rani
Director
RAM, Raj Vinder
Director

Registered Company No. 06534683
REGENCY HOUSE DENTAL PRACTICE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The directors have assessed whether the company is a going concern and have considered all available information about the future and are confident of the company's ability to continue as a going concern, with their support.
Turnover policy
Turnover represents sales of dental services and goods.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
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.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year1414
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23550,000550,000
At 31 March 24550,000550,000
Amortisation and impairment
At 01 April 23412,532412,532
Charge for year27,50427,504
At 31 March 24440,036440,036
Net book value
At 31 March 24109,964109,964
At 31 March 23137,468137,468
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2348,40237,262115,30030,671231,635
Additions7,09855,380--62,478
Disposals-(37,262)--(37,262)
At 31 March 2455,50055,380115,30030,671256,851
Depreciation and impairment
At 01 April 2322,121-68,33524,038114,494
Charge for year4,7823,4557,0451,65816,940
On disposals-(3,455)--(3,455)
At 31 March 2426,903-75,38025,696127,979
Net book value
At 31 March 2428,59755,38039,9204,975128,872
At 31 March 2326,28137,26246,9656,633117,141
5.Stocks

2024

2023

££
Raw materials and consumables6,20013,694
Total6,20013,694
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables28,54134,544
Other debtors2,7673,590
Prepayments and accrued income2,9393,578
Total34,24741,712
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables22,72713,625
Bank borrowings and overdrafts1,6911,406
Taxation and social security32,77133,126
Finance lease and HP contracts39,180-
Other creditors76,86083,586
Accrued liabilities and deferred income9,59722,901
Total182,826154,644
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts45,00064,037
Total45,00064,037
9.Obligations under finance leases
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)29,94226,929
Total29,94226,929