9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 290,937 235,176 14,547 249,723 41,214 55,761 54,523 1,731 56,254 37,013 4,676 41,689 14,565 17,510 xbrli:pure xbrli:shares iso4217:GBP 06030355 2023-04-01 2024-03-31 06030355 2024-03-31 06030355 2023-03-31 06030355 2022-04-01 2023-03-31 06030355 2023-03-31 06030355 2022-03-31 06030355 core:PlantMachinery 2023-04-01 2024-03-31 06030355 core:NetGoodwill 2023-04-01 2024-03-31 06030355 bus:Director1 2023-04-01 2024-03-31 06030355 bus:Director2 2023-04-01 2024-03-31 06030355 core:NetGoodwill 2023-03-31 06030355 core:NetGoodwill 2024-03-31 06030355 core:PlantMachinery 2023-03-31 06030355 core:PlantMachinery 2024-03-31 06030355 core:WithinOneYear 2024-03-31 06030355 core:WithinOneYear 2023-03-31 06030355 core:AfterOneYear 2023-03-31 06030355 core:ShareCapital 2024-03-31 06030355 core:ShareCapital 2023-03-31 06030355 core:RetainedEarningsAccumulatedLosses 2024-03-31 06030355 core:RetainedEarningsAccumulatedLosses 2023-03-31 06030355 core:NetGoodwill 2023-03-31 06030355 core:PlantMachinery 2023-03-31 06030355 bus:SmallEntities 2023-04-01 2024-03-31 06030355 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06030355 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06030355 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06030355 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 06030355
Queens Crescent Dental Practice Limited
Unaudited financial statements
31 March 2024
Queens Crescent Dental Practice Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
41,214
55,761
Tangible assets
6
14,565
17,510
-------
-------
55,779
73,271
Current assets
Stocks
2,000
2,000
Debtors
7
1,216,187
1,104,281
Cash at bank and in hand
253,566
233,676
-----------
-----------
1,471,753
1,339,957
Creditors: Amounts falling due within one year
8
( 166,889)
( 120,224)
-----------
-----------
Net current assets
1,304,864
1,219,733
-----------
-----------
Total assets less current liabilities
1,360,643
1,293,004
Creditors: Amounts falling due after more than one year
9
( 207)
Provisions
Taxation including deferred tax
( 3,641)
( 4,182)
-----------
-----------
Net assets
1,357,002
1,288,615
-----------
-----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,356,902
1,288,515
-----------
-----------
Shareholders funds
1,357,002
1,288,615
-----------
-----------
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 statement of income and retained earnings 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 .
Queens Crescent Dental Practice Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 30 December 2024 , and are signed on behalf of the board by:
Dr S Oikonomou
Mr K Oikonomou
Director
Director
Company registration number: 06030355
Queens Crescent Dental Practice 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 Queens Crescent Dental, 3 Queens Crescent, Burgess Hill, West Sussex RH15 9DR.
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. The 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 as follows: Amortisation of goodwill is estimated over 20 years. The carrying value at the year end was £41,214 (2023: £55,761).
Revenue recognition
Turnover is in respect of dental services rendered and 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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
-
Over 20 years.
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:
Plant and machinery
-
35% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution pensions 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 9 (2023: 8 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
290,937
---------
Amortisation
At 1 April 2023
235,176
Charge for the year
14,547
---------
At 31 March 2024
249,723
---------
Carrying amount
At 31 March 2024
41,214
---------
At 31 March 2023
55,761
---------
6. Tangible assets
Plant and machinery
£
Cost
At 1 April 2023
54,523
Additions
1,731
-------
At 31 March 2024
56,254
-------
Depreciation
At 1 April 2023
37,013
Charge for the year
4,676
-------
At 31 March 2024
41,689
-------
Carrying amount
At 31 March 2024
14,565
-------
At 31 March 2023
17,510
-------
7. Debtors
2024
2023
£
£
Trade debtors
17,976
12,391
Amounts owed by group undertakings and undertakings in which the company has a participating interest
992,022
958,716
Other debtors
206,189
133,174
-----------
-----------
1,216,187
1,104,281
-----------
-----------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
32,174
13,733
Social security and other taxes
105,631
44,918
Other creditors
29,084
61,573
---------
---------
166,889
120,224
---------
---------
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Other creditors
207
----
----
10. Directors' advances, credits and guarantees
During the year, a director operated a loan with the company at HM Revenue & Customs approved interest rates. At the year end the director owed £171,583 to the company (2023: £105,637).