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Registered number: 06703831
Perry Vale Dental Limited
Financial Statements
For The Year Ended 31 March 2024
AJN Accountants Limited
Hideaway Workspace Office 43
1 Empire Mews
Streatham
SW16 2BF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06703831
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 585,742 585,742
Tangible Assets 5 19,026 27,281
604,768 613,023
CURRENT ASSETS
Stocks 6 2,560 2,010
Debtors 7 - 66,438
Cash at bank and in hand - 2,314
2,560 70,762
Creditors: Amounts Falling Due Within One Year 8 (315,529 ) (173,535 )
NET CURRENT ASSETS (LIABILITIES) (312,969 ) (102,773 )
TOTAL ASSETS LESS CURRENT LIABILITIES 291,799 510,250
Creditors: Amounts Falling Due After More Than One Year 9 (49,643 ) (136,333 )
NET ASSETS 242,156 373,917
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 242,056 373,817
SHAREHOLDERS' FUNDS 242,156 373,917
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Christopher Vondee
Director
07/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Perry Vale Dental Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06703831 . The registered office is Hideaway Workspace Office 43, 1 Empire Mews, Streatham, SW16 2BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Straight line method
Computer Equipment 25% Straight line method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 15)
15 15
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 585,742
As at 31 March 2024 585,742
Net Book Value
As at 31 March 2024 585,742
As at 1 April 2023 585,742
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 124,851 6,647 131,498
Additions - 4,178 4,178
As at 31 March 2024 124,851 10,825 135,676
Depreciation
As at 1 April 2023 99,044 5,173 104,217
Provided during the period 10,323 2,110 12,433
As at 31 March 2024 109,367 7,283 116,650
Net Book Value
As at 31 March 2024 15,484 3,542 19,026
As at 1 April 2023 25,807 1,474 27,281
6. Stocks
2024 2023
£ £
Materials 2,560 2,010
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 66,438
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 21,617 21,617
Bank loans and overdrafts 140,951 67,724
Corporation tax 49,971 60,407
Other taxes and social security 3,680 5,291
Net wages 22,429 17,613
Other creditors 76,881 -
Director's loan account - 883
315,529 173,535
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 49,643 136,333
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5