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Registered number: 12620849









TWENTYTWENTY DENTAL CARE LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
TWENTYTWENTY DENTAL CARE LTD
REGISTERED NUMBER: 12620849

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,286
27,760

  
18,286
27,760

Current assets
  

Stocks
 5 
4,500
4,015

Debtors: amounts falling due within one year
 6 
2,230
1,369

Cash at bank and in hand
 7 
20,749
14,984

  
27,479
20,368

Creditors: amounts falling due within one year
 8 
(45,665)
(23,949)

Net current liabilities
  
 
 
(18,186)
 
 
(3,581)

Total assets less current liabilities
  
100
24,179

Provisions for liabilities
  

Other provisions
 9 
-
(5,275)

  
 
 
-
 
 
(5,275)

Net assets
  
100
18,904


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
-
18,804

  
100
18,904


Page 1

 
TWENTYTWENTY DENTAL CARE LTD
REGISTERED NUMBER: 12620849
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 February 2025.




................................................
Lindsey Leggett
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TWENTYTWENTY DENTAL CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

TwentyTwenty Dental Care Ltd is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of dental practice.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
TWENTYTWENTY DENTAL CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
TWENTYTWENTY DENTAL CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Fixtures and fittings
-
20%
straight line
Computer equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
TWENTYTWENTY DENTAL CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
44,436
42,579

Cost of defined contribution scheme
77
-

44,513
42,579


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
TWENTYTWENTY DENTAL CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
26,245
8,315
12,809
47,369



At 31 May 2024

26,245
8,315
12,809
47,369



Depreciation


At 1 June 2023
7,770
4,918
6,921
19,609


Charge for the year on owned assets
5,249
1,663
2,562
9,474



At 31 May 2024

13,019
6,581
9,483
29,083



Net book value



At 31 May 2024
13,226
1,734
3,326
18,286



At 31 May 2023
18,475
3,397
5,888
27,760


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
4,500
4,015

4,500
4,015



6.


Debtors

2024
2023
£
£


Prepayments and accrued income
2,230
1,369

2,230
1,369


Page 7

 
TWENTYTWENTY DENTAL CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
20,749
14,984

20,749
14,984



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,254
825

Amounts owed to joint ventures
27,279
-

Corporation tax
13,351
3,172

Other taxation and social security
1,136
297

Other creditors
-
18,865

Accruals and deferred income
2,645
790

45,665
23,949


Page 8

 
TWENTYTWENTY DENTAL CARE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Provisions





Other provision

£





At 1 June 2023 (as previously stated)
5,275


Prior year adjustment
(5,275)



At 31 May 2024
-


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £77 (2023 - £Nil). Contributions totalling £Nil (2023 - £56) were payable to the fund at the balance sheet date.


11.


Controlling party

The Company is controlled by Light Smiles Limited, a parent company, who owns 100% of the issued shares.

 
Page 9