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WANDSWORTH TOWN DENTAL PRACTICE LIMITED

Registered Number
07349448
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

WANDSWORTH TOWN DENTAL PRACTICE LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Deepak Kumar
Kalpna Kumari
Kishore Kumar Manjiani
Veena Manjiani

Registered Address

2nd Floor, Grove House
55 Lowland Road
Harrow
HA1 3AW

Registered Number

07349448 (England and Wales)
WANDSWORTH TOWN DENTAL PRACTICE LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets337,634111,134
Tangible assets483,82493,806
121,458204,940
Current assets
Debtors5423,542353,060
Cash at bank and on hand10,56927,025
434,111380,085
Creditors amounts falling due within one year6(284,818)(338,102)
Net current assets (liabilities)149,29341,983
Total assets less current liabilities270,751246,923
Creditors amounts falling due after one year7(53,182)(38,430)
Provisions for liabilities9(20,252)-
Net assets197,317208,493
Capital and reserves
Called up share capital22
Profit and loss account197,315208,491
Shareholders' funds197,317208,493
The financial statements were approved and authorised for issue by the Board of Directors on 19 December 2024, and are signed on its behalf by:
Deepak Kumar
Director
Kishore Kumar Manjiani
Director

Registered Company No. 07349448
WANDSWORTH TOWN DENTAL PRACTICE LIMITED
Notes to the Financial Statements
for the year ended 31 May 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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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. Intangible assets are being amortised over its useful life of 10 years.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently measured at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Reducing balance (%)Straight line (years)
Plant and machinery20-
Fixtures and fittings20-
Office Equipment-3
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. Hire purchase and leasing commitments Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Financial instruments
Valuation of financial instruments policy The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year1613
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 June 23735,000735,000
At 31 May 24735,000735,000
Amortisation and impairment
At 01 June 23623,866623,866
Charge for year73,50073,500
At 31 May 24697,366697,366
Net book value
At 31 May 2437,63437,634
At 31 May 23111,134111,134
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 June 2361,758183,50211,878257,138
Additions11,4003201,48513,205
At 31 May 2473,158183,82213,363270,343
Depreciation and impairment
At 01 June 238,037148,3356,960163,332
Charge for year12,8347,0873,26623,187
At 31 May 2420,871155,42210,226186,519
Net book value
At 31 May 2452,28728,4003,13783,824
At 31 May 2353,72135,1674,91893,806
The netbook value of Plant & Machinery includes assets under finance leases or hire purchase contracts of £34,843 (2023 : £43,554) and accumulated depreciation charge in respect of these assets is £8,711 (2023 : £7,686).
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables44,42046,644
Other debtors296,804288,015
Prepayments and accrued income82,31818,401
Total423,542353,060
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables100,641114,866
Bank borrowings and overdrafts16,667-
Taxation and social security42,66736,907
Finance lease and HP contracts7,3207,320
Other creditors117,523179,009
Total284,818338,102
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts22,072-
Other creditors31,11038,430
Total53,18238,430
Included in bank borrowings and overdrafts falling due within one year and more than one year is an amount of £38,739 (2023 : £Nil).
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts31,11038,430
At the reporting end date the company had outstanding commitments for future minimum hire purchase payments under non-cancellable hire purchase contracts of £38,430 (2023 : £45,750).
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)20,252-
Total20,252-
10.Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum rent lease payments under non-cancellable operating leases of £55,000 (2023 : £55,000).
11.Related party transactions
During the year, total dividends of £181,200 (2023 : £122,000) were paid to the holding company. During the year the company has paid management fees of £21,000 (2023 : £63,000) to DK Nankani Ltd and Aayughan Ltd, companies associated with the directors. Included in other debtors is an amount of £10,000 (2023 : £Nil) due from DK Nankani Ltd, a company related to the director. It also includes an amount of £13,514 (2023 : £Nil) due from the director Mr D Nankani. Included in other creditors is an amount of £5,000 (2023 : £Nil) due to Aayughan Ltd, company related to the director. It also includes an amount of £10,000 (2023 : £Nil) due to Needham Market Dental Practice, partnership related to the director. And an amount of £1,212 (2023 : £Nil) due to the director Mr K Manjiani.
12.Further information regarding the company's financial position
The Ultimate parent company is First Dental Healthcare Ltd, a company registered in England and Wales. It's registered office address is 2nd Floor Grove House, 55 Lowlands Road, Harrow, England, HA1 3AW.