Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.8false2023-04-01No description of principal activity8falsetruefalse 06272027 2023-04-01 2024-03-31 06272027 2022-04-01 2023-03-31 06272027 2024-03-31 06272027 2023-03-31 06272027 2022-04-01 06272027 c:Director1 2023-04-01 2024-03-31 06272027 d:PlantMachinery 2023-04-01 2024-03-31 06272027 d:PlantMachinery 2024-03-31 06272027 d:PlantMachinery 2023-03-31 06272027 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06272027 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06272027 d:MotorVehicles 2023-04-01 2024-03-31 06272027 d:MotorVehicles 2024-03-31 06272027 d:MotorVehicles 2023-03-31 06272027 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06272027 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06272027 d:FurnitureFittings 2023-04-01 2024-03-31 06272027 d:FurnitureFittings 2024-03-31 06272027 d:FurnitureFittings 2023-03-31 06272027 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06272027 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06272027 d:ComputerEquipment 2023-04-01 2024-03-31 06272027 d:ComputerEquipment 2024-03-31 06272027 d:ComputerEquipment 2023-03-31 06272027 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06272027 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06272027 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06272027 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06272027 d:Goodwill 2023-04-01 2024-03-31 06272027 d:Goodwill 2024-03-31 06272027 d:Goodwill 2023-03-31 06272027 d:CurrentFinancialInstruments 2024-03-31 06272027 d:CurrentFinancialInstruments 2023-03-31 06272027 d:Non-currentFinancialInstruments 2024-03-31 06272027 d:Non-currentFinancialInstruments 2023-03-31 06272027 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06272027 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06272027 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06272027 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06272027 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 06272027 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 06272027 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 06272027 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 06272027 d:ShareCapital 2024-03-31 06272027 d:ShareCapital 2023-03-31 06272027 d:RetainedEarningsAccumulatedLosses 2024-03-31 06272027 d:RetainedEarningsAccumulatedLosses 2023-03-31 06272027 c:FRS102 2023-04-01 2024-03-31 06272027 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06272027 c:FullAccounts 2023-04-01 2024-03-31 06272027 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06272027 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 06272027 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 06272027 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 06272027 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 06272027 2 2023-04-01 2024-03-31 06272027 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06272027 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 06272027 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 06272027 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 06272027 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06272027









OLD BANK HOUSE DENTAL SURGERY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
REGISTERED NUMBER: 06272027

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
138,863
79,122

  
138,864
79,123

Current assets
  

Stocks
 6 
16,000
15,400

Debtors: amounts falling due within one year
 7 
274,072
295,561

Cash at bank and in hand
 8 
22,984
67,530

  
313,056
378,491

Creditors: amounts falling due within one year
 9 
(156,030)
(186,554)

Net current assets
  
 
 
157,026
 
 
191,937

Total assets less current liabilities
  
295,890
271,060

Creditors: amounts falling due after more than one year
 10 
(19,704)
(42,639)

Provisions for liabilities
  

Deferred tax
 13 
(34,137)
(19,074)

Net assets
  
242,049
209,347


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
241,949
209,247

  
242,049
209,347


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Page 1

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
REGISTERED NUMBER: 06272027
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
N A Du Preez
Director
Date: 3 December 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Old Bank House Dental Surgery Limited is a company limited by shares, incorporated in England and Wales, within the United Kingdom. The address of the registered office is Old Bank House, 16 Lake Street, Leighton Buzzard, Bedfordshire, LU7 1RT.
The Company's principal activity is that of a dental surgery.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

Page 3

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

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 to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance method
Motor vehicles
-
25%
reducing balance method
Fixtures and fittings
-
20%
reducing balance method
Computer equipment
-
20%
reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 6

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
650,000



At 31 March 2024

650,000



Amortisation


At 1 April 2023
649,999



At 31 March 2024

649,999



Net book value



At 31 March 2024
1



At 31 March 2023
1



Page 8

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
377,175
-
86,302
18,157
481,634


Additions
17,194
92,000
-
-
109,194



At 31 March 2024

394,369
92,000
86,302
18,157
590,828



Depreciation


At 1 April 2023
307,488
-
84,250
10,774
402,512


Charge for the year on owned assets
16,456
17,281
735
2,124
36,596


Charge for the year on financed assets
12,857
-
-
-
12,857



At 31 March 2024

336,801
17,281
84,985
12,898
451,965



Net book value



At 31 March 2024
57,568
74,719
1,317
5,259
138,863



At 31 March 2023
69,687
-
2,052
7,383
79,122

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
4,159
16,745


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
16,000
15,400


Page 9

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Other debtors
264,533
264,533

Prepayments and accrued income
9,539
31,028

274,072
295,561



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,984
67,530



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
18,185
18,185

Trade creditors
30,394
57,171

Corporation tax
59,392
62,937

Other taxation and social security
3,699
2,782

Obligations under finance lease and hire purchase contracts
4,752
15,707

Other creditors
12,740
11,971

Accruals and deferred income
26,868
17,801

156,030
186,554



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,704
37,887

Net obligations under finance leases and hire purchase contracts
-
4,752

19,704
42,639


Page 10

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
18,185
18,185

Amounts falling due 1-2 years

Bank loans
18,185
18,185

Amounts falling due 2-5 years

Bank loans
1,519
19,702


37,889
56,072



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
4,752
15,707

Between 1-5 years
-
4,752

4,752
20,459

Page 11

 
OLD BANK HOUSE DENTAL SURGERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Deferred taxation




2024
2023


£

£






At beginning of year
19,074
14,573


Charged to profit or loss
15,063
4,501



At end of year
34,137
19,074

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
34,137
19,074


14.


Pension commitments

The Company operates a defined contribution pension scheme. The fund is administered independently of the Company. Contributions made during the year amount to £3,284 (2023 - £2,656). Included within the figure is an amount of £546 (2023 - £636) that has been accrued at the year end.


15.


Transactions with directors

At the year end date the directors owed the Company £211,626 (2023 - £211,626).

 
Page 12