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REGISTERED NUMBER: 06451244 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

LIL Dental Limited

LIL Dental Limited (Registered number: 06451244)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LIL Dental Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mrs L M Lightfoot





SECRETARY: Mrs L M Lightfoot





REGISTERED OFFICE: Brownriggside
Westgate
Bishop Auckland
Co. Durham
DL13 1PG





REGISTERED NUMBER: 06451244 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

LIL Dental Limited (Registered number: 06451244)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 45,000 60,000
Tangible assets 6 8,617 9,574
53,617 69,574

CURRENT ASSETS
Stocks 1,800 1,800
Debtors 7 64,731 67,150
Cash at bank 48,421 194
114,952 69,144
CREDITORS
Amounts falling due within one year 8 (117,905 ) (114,617 )
NET CURRENT LIABILITIES (2,953 ) (45,473 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,664

24,101

CREDITORS
Amounts falling due after more than one
year

9

(9,890

)

(20,852

)

PROVISIONS FOR LIABILITIES (1,773 ) (1,862 )
NET ASSETS 39,001 1,387

CAPITAL AND RESERVES
Called up share capital 2 2
Profit and loss account 38,999 1,385
SHAREHOLDERS' FUNDS 39,001 1,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





Mrs L M Lightfoot - Director


LIL Dental Limited (Registered number: 06451244)

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

1. STATUTORY INFORMATION

LIL Dental Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from the provision of dental practice services, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the company.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.


LIL Dental Limited (Registered number: 06451244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. ACCOUNTING POLICIES - continued
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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 300,000
AMORTISATION
At 1 January 2024 240,000
Charge for year 15,000
At 31 December 2024 255,000
NET BOOK VALUE
At 31 December 2024 45,000
At 31 December 2023 60,000

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 51,661
DEPRECIATION
At 1 January 2024 42,087
Charge for year 957
At 31 December 2024 43,044
NET BOOK VALUE
At 31 December 2024 8,617
At 31 December 2023 9,574

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 64,731 67,150

LIL Dental Limited (Registered number: 06451244)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,133 14,108
Trade creditors 1,043 1,572
Taxation and social security 39,816 33,252
Other creditors 66,913 65,685
117,905 114,617

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,651 15,031
Other creditors 5,239 5,821
9,890 20,852

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan - 1,335

The bank loan is secured by a fixed and floating charge over the assets of the company and contains a negative pledge.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr I Lightfoot and Mrs L M Lightfoot
Balance outstanding at start of year 57,058 104,415
Amounts advanced 7,827 69,081
Amounts repaid (10,342 ) (116,438 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,543 57,058

The above loan is unsecured, repayable on demand and attracts interest at 2.25%.