Outwood Dental Practice LLP OC422397 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is the provision of dental treatment and services. Digita Accounts Production Advanced 6.30.9574.0 true OC422397 2023-06-01 2024-05-31 OC422397 2024-05-31 OC422397 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 OC422397 core:Goodwill 2024-05-31 OC422397 core:BetweenOneFiveYears 2024-05-31 OC422397 core:WithinOneYear 2024-05-31 OC422397 core:FurnitureFittings 2024-05-31 OC422397 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 OC422397 core:OfficeEquipment 2024-05-31 OC422397 core:PlantMachinery 2024-05-31 OC422397 bus:SmallEntities 2023-06-01 2024-05-31 OC422397 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 OC422397 bus:FilletedAccounts 2023-06-01 2024-05-31 OC422397 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 OC422397 bus:RegisteredOffice 2023-06-01 2024-05-31 OC422397 bus:PartnerLLP1 2023-06-01 2024-05-31 OC422397 bus:PartnerLLP2 2023-06-01 2024-05-31 OC422397 bus:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 OC422397 core:Goodwill 2023-06-01 2024-05-31 OC422397 core:ComputerEquipment 2023-06-01 2024-05-31 OC422397 core:FurnitureFittings 2023-06-01 2024-05-31 OC422397 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 OC422397 core:LeaseholdImprovements 2023-06-01 2024-05-31 OC422397 core:OfficeEquipment 2023-06-01 2024-05-31 OC422397 core:PlantMachinery 2023-06-01 2024-05-31 OC422397 countries:AllCountries 2023-06-01 2024-05-31 OC422397 2023-05-31 OC422397 core:Goodwill 2023-05-31 OC422397 core:FurnitureFittings 2023-05-31 OC422397 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 OC422397 core:OfficeEquipment 2023-05-31 OC422397 core:PlantMachinery 2023-05-31 OC422397 2022-06-01 2023-05-31 OC422397 2023-05-31 OC422397 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 OC422397 core:Goodwill 2023-05-31 OC422397 core:BetweenOneFiveYears 2023-05-31 OC422397 core:WithinOneYear 2023-05-31 OC422397 core:FurnitureFittings 2023-05-31 OC422397 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 OC422397 core:OfficeEquipment 2023-05-31 OC422397 core:PlantMachinery 2023-05-31 xbrli:pure iso4217:GBP

Registration number: OC422397

Outwood Dental Practice LLP

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Outwood Dental Practice LLP

Contents

Limited liability partnership information

1

Statement of Members' Responsibilities

2

Financial Statements

3 to 11

Balance Sheet

3

Notes to the Financial Statements

5

 

Outwood Dental Practice LLP

Limited liability partnership information

Designated members

Todays Dental SPL Limited

C Gratton
 

Registered office

569 Leeds Road
Wakefield
West Yorkshire
WF1 2JL

Accountants

Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

 

Outwood Dental Practice LLP

Statement of Members' Responsibilities for the Year Ended 31 May 2024

The members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

The Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008 require the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law as applied to LLPs the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that year. In preparing these financial statements, the members are required to:

select suitable accounting policies and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Partnership will continue in business.

The members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, and in accordance with the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued January 2017). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

These responsibilities are exercised by the Board on behalf of the members.

 

Outwood Dental Practice LLP

(Registration number: OC422397)
Balance Sheet as at 31 May 2024

Note

2024
 £

2023
 £

Fixed assets

 

Intangible assets

3

338,333

410,833

Tangible assets

4

96,354

76,463

 

434,687

487,296

Current assets

 

Stocks

5

16,363

12,779

Debtors

6

38,666

53,410

Cash and short-term deposits

 

129,609

141,728

 

184,638

207,917

Creditors: Amounts falling due within one year

7

(83,955)

(80,827)

Net current assets

 

100,683

127,090

Total assets less current liabilities

 

535,370

614,386

Creditors: Amounts falling due after more than one year

8

(28,544)

-

Net assets attributable to members

 

506,826

614,386

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

139,970

175,030

Equity: Members' other interests

 

Members' capital classified as equity

 

366,856

439,356

   

506,826

614,386

Total members' interests

 

Loans and other debts due to members

 

139,970

175,030

Equity

 

366,856

439,356

   

506,826

614,386

For the year ending 31 May 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

This report has been prepared and delivered in accordance with the special provisions within Part 15 of the Companies Act 2006 as applied to small Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 as modified by the Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016.

 

Outwood Dental Practice LLP

(Registration number: OC422397)
Balance Sheet as at 31 May 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The designated members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Outwood Dental Practice LLP (registered number OC422397) were approved by the members and authorised for issue on 21 February 2025. They were signed on behalf of the limited liability partnership by:


Todays Dental SPL Limited
Designated member

   
 

Outwood Dental Practice LLP

Notes to the Financial Statements for the Year Ended 31 May 2024

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

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.

The functional currency of Outwood Dental Practice LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

These financial statements are presented in Sterling (£).

Revenue recognition

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.

Division of profits

Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

Loans and other debts due to members

In the event of a winding up, members other reserves rank after unsecured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. There is no formal restriction on the ability of the LLP to reduce the amount of members' other interests.

 

Outwood Dental Practice LLP

Notes to the Financial Statements for the Year Ended 31 May 2024

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight Line depreciation at 10% per year

 

Outwood Dental Practice LLP

Notes to the Financial Statements for the Year Ended 31 May 2024

Tangible fixed assets

Individual fixed assets are initially recorded at cost.

Depreciation

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses.

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and Machinery

Straight line depreciation between 10% and 33%

Fixtures and Fittings

Straight line depreciation at 20%

Office Equipment

Straight line depreciation at 33%

Leasehold improvements

Straight line depreciation at 20%

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade debtors

Trade debtors are amounts due from customers for items 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 limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the limited liability partnership 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.

 

Outwood Dental Practice LLP

Notes to the Financial Statements for the Year Ended 31 May 2024

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 16 (2023 - 14).

3

Intangible fixed assets

Goodwill
 £

Total
£

Cost

At 1 June 2023

725,000

725,000

At 31 May 2024

725,000

725,000

Amortisation

At 1 June 2023

314,167

314,167

Charge for the year

72,500

72,500

At 31 May 2024

386,667

386,667

Net book value

At 31 May 2024

338,333

338,333

At 31 May 2023

410,833

410,833

 

Outwood Dental Practice LLP

Notes to the Financial Statements for the Year Ended 31 May 2024

4

Tangible fixed assets

Leasehold improvements
£

Plant and machinery
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost

At 1 June 2023

57,856

78,783

9,458

1,834

147,931

Additions

2,910

43,914

-

-

46,824

At 31 May 2024

60,766

122,697

9,458

1,834

194,755

Depreciation

At 1 June 2023

22,261

45,166

2,207

1,834

71,468

Charge for the year

11,668

13,373

1,892

-

26,933

At 31 May 2024

33,929

58,539

4,099

1,834

98,401

Net book value

At 31 May 2024

26,837

64,158

5,359

-

96,354

At 31 May 2023

35,595

33,617

7,251

-

76,463

 

Outwood Dental Practice LLP

Notes to the Financial Statements for the Year Ended 31 May 2024

5

Stocks

2024
£

2023
£

Stocks

16,363

12,779

6

Debtors

2024
£

2023
£

Other debtors

4,154

3,107

Prepayments and accrued income

34,512

50,303

Total current trade and other debtors

38,666

53,410

7

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

1,836

1,280

Other creditors

64,155

47,924

Accruals and deferred income

13,426

27,152

Taxation and social security

4,538

4,471

83,955

80,827

8

Creditors: Amounts falling due after more than one year

2024
 £

2023
 £

Hire purchase

28,544

-

 

Outwood Dental Practice LLP

Notes to the Financial Statements for the Year Ended 31 May 2024

9

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

8,783

3,508

Later than one year and not later than five years

28,544

-

37,327

3,508


Hire purchase liabilities are secured on the equipment they are financing and are repayable in monthly instalments over 5 years.

Operating leases

2024
£

2023
£

Not later than one year

9,700

6,467

Later than one year and not later than five years

35,567

-

45,267

6,467