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Registration number: 12984791

Carmarthen Dental Centre Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Carmarthen Dental Centre Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Carmarthen Dental Centre Ltd

Company Information

Director

Dr T R Lewis

Registered office

72 Water Street
Carmarthen
Carmarthenshire
SA31 1PZ

 

Carmarthen Dental Centre Ltd

(Registration number: 12984791)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

295,953

292,778

Current assets

 

Stocks

6

5,775

5,500

Debtors

7

-

120

Cash at bank and in hand

 

64,355

22,249

 

70,130

27,869

Creditors: Amounts falling due within one year

8

(39,683)

(5,099)

Net current assets

 

30,447

22,770

Total assets less current liabilities

 

326,400

315,548

Creditors: Amounts falling due after more than one year

8

(565,217)

(519,571)

Net liabilities

 

(238,817)

(204,023)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(238,818)

(204,024)

Total equity

 

(238,817)

(204,023)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Carmarthen Dental Centre Ltd

(Registration number: 12984791)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 26 November 2024
 

.........................................
Dr T R Lewis
Director

   
     
 

Carmarthen Dental Centre Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
72 Water Street
Carmarthen
Carmarthenshire
SA31 1PZ
Wales

The principal place of business is:
72 Water Street
Carmarthen
SA31 1PZ

These financial statements were authorised for issue by the director on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The parent company will support the company for the foreseeable future and pay debts as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Carmarthen Dental Centre Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Carmarthen Dental Centre Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

18,746

13,562

 

Carmarthen Dental Centre Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

199,833

117,521

1,029

318,383

Additions

17,947

3,480

494

21,921

At 30 April 2024

217,780

121,001

1,523

340,304

Depreciation

At 1 May 2023

-

25,260

345

25,605

Charge for the year

-

18,568

178

18,746

At 30 April 2024

-

43,828

523

44,351

Carrying amount

At 30 April 2024

217,780

77,173

1,000

295,953

At 30 April 2023

199,833

92,261

684

292,778

Included within the net book value of land and buildings above is £217,780 (2023 - £199,833) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

5,775

5,500

7

Debtors

2024
£

2023
£

Prepayments

-

120

 

Carmarthen Dental Centre Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

29,813

-

Trade creditors

 

3,721

3,082

Taxation and social security

 

4,592

496

Other related parties

 

8

13

Other creditors

 

1,549

1,508

 

39,683

5,099

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

23,424

83,198

Other non-current financial liabilities

 

541,793

436,373

 

565,217

519,571

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

         
 

Carmarthen Dental Centre Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

HP and finance lease liabilities

23,424

83,198

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

29,813

-

11

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Dr T R Lewis

Interest free loan repayable on demand

(13)

6,525

(6,520)

(8)

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Dr T R Lewis

Interest free loan repayable on demand

-

11,401

(11,413)

(13)

         
       

 

Summary of transactions with other related parties

West Wales Dental Implant Clinic Limited
 Carmarthen Dental Centre Ltd received loans from West Wales Dental Implant Clinic Limited in the year totalling £115,323.66 (2023: £71,837.97) and made repayments in the year of £9,903.88 (2023: £20,600.00).
 At the balance sheet date, £541,792.73 was owed to West Wales Dental Implant Clinic Limited (2023: £436,372.95)