Registered number
06819367
Circle Dental Care Limited
Unaudited Filleted Accounts
31 March 2024
Circle Dental Care Limited
Registered number: 06819367
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 163,032 175,590
Current assets
Stocks 8,000 7,500
Debtors 4 406,592 26,627
Cash at bank and in hand 346,236 427,364
760,828 461,491
Creditors: amounts falling due within one year 5 (274,867) (83,816)
Net current assets 485,961 377,675
Total assets less current liabilities 648,993 553,265
Creditors: amounts falling due after more than one year 6 (18,982) (35,714)
Net assets 630,011 517,551
Capital and reserves
Called up share capital 100 100
Capital Redemption reserve 8 1 1
Profit and loss account 629,910 517,450
Shareholders' funds 630,011 517,551
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr B Sekhon
Director
Approved by the board on 29 January 2025
Circle Dental Care Limited
Notes to the Accounts
for the period from 1 March 2023 to 31 March 2024
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Nil
Plant and machinery 15 % reducing balance
Leasehold improvements 15 % reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 23
3 Tangible fixed assets
Land and buildings Plant and machinery etc Leasehold Improvements Total
£ £ £ £
Cost
At 1 March 2023 59,584 329,831 17,242 406,657
Additions - 5,697 - 5,697
At 31 March 2024 59,584 335,528 17,242 412,354
Depreciation
At 1 March 2023 - 222,826 8,241 231,067
Charge for the period - 16,905 1,350 18,255
At 31 March 2024 - 239,731 9,591 249,322
Net book value
At 31 March 2024 59,584 95,797 7,651 163,032
At 28 February 2023 59,584 107,005 9,001 175,590
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 379,995 -
Other debtors 26,597 26,627
406,592 26,627
Other debtors include £24,861 relating to amounts owing from BSVV Ltd a company in which both directors V Vyas and B Sekhon are also directors. They also control BSVV Ltd. Amounts owed by Group Undertakings relate to 554 Barton Limited a company in which both directors V Vyas and B Sekhon are also directors of and control.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 123,671 2,109
Obligations under finance lease and hire purchase contracts 19,368 23,618
Trade creditors 49,806 43,470
Corporation tax 45,743 11,734
Other taxes and social security costs 4,210 2,885
Other creditors 32,069 -
274,867 83,816
The bank loan is secured by personal guarantees from the directors and the Hire purchase creditor is secured on the asset concerned.
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 18,982 35,714
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 123,761 -
The bank loan is secured by personal gurantees of the directors
8 Capital Redemption reserve 2024 2023
£ £
At 1 March 2023 1 1
At 31 March 2024 1 1
9 Related party transactions
Other debtors include £24861 relating to amounts owing from BSVV Ltd a company in which both directors V Vyas and B Sekhon are also directors. They also control BSVV Ltd. Amounts owed by Group Undertakings relate to 554 Barton Limited a company in which both directors V Vyas and B Sekhon are also directors of and control.
10 Controlling party
The company is controlled by the directors by virtue of their ownership of 100% of the issued share capital of the company.
11 Other information
Circle Dental Care Limited is a private company limited by shares and incorporated in England. Its registered office is:
16 The Circle
Stretford
Manchester
M16 9TR
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