Ivory Dental Care Limited 06531415 false 2024-04-01 2024-10-28 2024-10-28 The principal activity of the company is dentistry Digita Accounts Production Advanced 6.30.9574.0 true 06531415 2024-04-01 2024-10-28 06531415 2024-10-28 06531415 bus:CompanySecretaryDirector2 1 2024-10-28 06531415 bus:Director1 1 2024-10-28 06531415 core:RetainedEarningsAccumulatedLosses 2024-10-28 06531415 core:ShareCapital 2024-10-28 06531415 core:SharePremium 2024-10-28 06531415 core:CurrentFinancialInstruments 2024-10-28 06531415 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-28 06531415 core:Non-currentFinancialInstruments 2024-10-28 06531415 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-28 06531415 core:Goodwill 2024-10-28 06531415 core:FurnitureFittingsToolsEquipment 2024-10-28 06531415 core:LandBuildings 2024-10-28 06531415 core:OtherPropertyPlantEquipment 2024-10-28 06531415 bus:SmallEntities 2024-04-01 2024-10-28 06531415 bus:AuditExemptWithAccountantsReport 2024-04-01 2024-10-28 06531415 bus:FilletedAccounts 2024-04-01 2024-10-28 06531415 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-10-28 06531415 bus:RegisteredOffice 2024-04-01 2024-10-28 06531415 bus:CompanySecretaryDirector2 2024-04-01 2024-10-28 06531415 bus:CompanySecretaryDirector2 1 2024-04-01 2024-10-28 06531415 bus:Director1 2024-04-01 2024-10-28 06531415 bus:Director1 1 2024-04-01 2024-10-28 06531415 bus:Director3 2024-04-01 2024-10-28 06531415 bus:PrivateLimitedCompanyLtd 2024-04-01 2024-10-28 06531415 bus:Agent1 2024-04-01 2024-10-28 06531415 core:Goodwill 2024-04-01 2024-10-28 06531415 core:FurnitureFittingsToolsEquipment 2024-04-01 2024-10-28 06531415 core:LandBuildings 2024-04-01 2024-10-28 06531415 core:OtherPropertyPlantEquipment 2024-04-01 2024-10-28 06531415 core:PlantMachinery 2024-04-01 2024-10-28 06531415 1 2024-04-01 2024-10-28 06531415 countries:EnglandWales 2024-04-01 2024-10-28 06531415 2024-03-31 06531415 bus:CompanySecretaryDirector2 1 2024-03-31 06531415 bus:Director1 1 2024-03-31 06531415 core:Goodwill 2024-03-31 06531415 core:FurnitureFittingsToolsEquipment 2024-03-31 06531415 core:LandBuildings 2024-03-31 06531415 core:OtherPropertyPlantEquipment 2024-03-31 06531415 2023-04-01 2024-03-31 06531415 2024-03-31 06531415 bus:CompanySecretaryDirector2 1 2024-03-31 06531415 bus:Director1 1 2024-03-31 06531415 core:RetainedEarningsAccumulatedLosses 2024-03-31 06531415 core:ShareCapital 2024-03-31 06531415 core:SharePremium 2024-03-31 06531415 core:CurrentFinancialInstruments 2024-03-31 06531415 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06531415 core:Non-currentFinancialInstruments 2024-03-31 06531415 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06531415 core:Goodwill 2024-03-31 06531415 core:FurnitureFittingsToolsEquipment 2024-03-31 06531415 core:LandBuildings 2024-03-31 06531415 core:OtherPropertyPlantEquipment 2024-03-31 06531415 bus:CompanySecretaryDirector2 1 2023-04-01 2024-03-31 06531415 bus:Director1 1 2023-04-01 2024-03-31 06531415 bus:CompanySecretaryDirector2 1 2023-03-31 06531415 bus:Director1 1 2023-03-31 iso4217:GBP xbrli:pure

REGISTRAR OF COMPANIES

Registration number: 06531415

Ivory Dental Care Limited

Unaudited Financial Statements

1 April 2024 to 28 October 2024

image-name

 

Ivory Dental Care Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ivory Dental Care Limited
for the Period Ended 28 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ivory Dental Care Limited for the period ended 28 October 2024 as set out on pages 2 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Ivory Dental Care Limited, as a body, in accordance with the terms of our engagement letter dated 23 August 2023. Our work has been undertaken solely to prepare for your approval the accounts of Ivory Dental Care Limited and state those matters that we have agreed to state to the Board of Directors of Ivory Dental Care Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ivory Dental Care Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ivory Dental Care Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ivory Dental Care Limited. You consider that Ivory Dental Care Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Ivory Dental Care Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

21 January 2025

 

Ivory Dental Care Limited

(Registration number: 06531415)
Balance Sheet as at 28 October 2024

Note

28 October 2024
£

31 March 2024
£

Fixed assets

 

Intangible assets

4

165,848

200,809

Tangible assets

5

203,239

219,746

 

369,087

420,555

Current assets

 

Stocks

59,785

71,685

Debtors

6

38,393

50,363

Cash at bank and in hand

 

185,707

144,242

 

283,885

266,290

Creditors: Amounts falling due within one year

7

(466,619)

(203,454)

Net current (liabilities)/assets

 

(182,734)

62,836

Total assets less current liabilities

 

186,353

483,391

Creditors: Amounts falling due after more than one year

7

-

(230,747)

Provisions for liabilities

(51,032)

(55,988)

Net assets

 

135,321

196,656

Capital and reserves

 

Allotted, called up and fully paid share capital

200

200

Share premium reserve

16,664

16,664

Profit and loss account

118,457

179,792

Total equity

 

135,321

196,656

 

Ivory Dental Care Limited

(Registration number: 06531415)
Balance Sheet as at 28 October 2024 (continued)

For the financial period ending 28 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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

Approved and authorised by the Board on 21 January 2025 and signed on its behalf by:
 

.........................................

A G Carter

Director

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28A Whitegate Drive
Blackpool
FY3 9AL
United Kingdom

2

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.

Basis of preparation

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 company has net current liabilities at 28 October 2024 and meets its day to day working capital requirements through its directors loan account facility which, in common with all such facilities, is repayable on demand. On the basis of this support, the directors consider it appropriate to prepare the financial statements on the going concern basis.

However, should the company not have the support of its directors, and therefore be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets and long term liabilities as current assets and current liabilities.

Disclosure of long or short period

The company has shortened its year end in order to prepare completion accounts in relation to the sale of shares in the company.Therefore the current reporting period is 7 months compared to 12 months for the previous period.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)


Other grants
Other grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets on a basis consistent with the depreciation policy.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

2% straight line basis

Plant and equipment

25% reducing balance basis

Furniture, fittings and office equipment

25% reducing balance basis and 33% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

10 years straight line basis

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 debtors

Trade debtors are amounts due from customers for the sale of goods 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 company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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 company 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 where due after more than one year.

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 37 (2024 - 36).

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

691,333

691,333

At 28 October 2024

691,333

691,333

Amortisation

At 1 April 2024

490,524

490,524

Amortisation charge

34,961

34,961

At 28 October 2024

525,485

525,485

Carrying amount

At 28 October 2024

165,848

165,848

At 31 March 2024

200,809

200,809

5

Tangible assets

Improvements to property
£

Plant and equipment
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 April 2024

130,777

252,810

116,237

499,824

Additions

-

2,800

-

2,800

At 28 October 2024

130,777

255,610

116,237

502,624

Depreciation

At 1 April 2024

24,381

162,416

93,281

280,078

Charge for the period

1,528

13,373

4,406

19,307

At 28 October 2024

25,909

175,789

97,687

299,385

Carrying amount

At 28 October 2024

104,868

79,821

18,550

203,239

At 31 March 2024

106,396

90,394

22,956

219,746

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)

6

Debtors

28 October 2024
£

31 March 2024
£

Trade debtors

12,962

945

Other debtors

25,431

49,418

38,393

50,363

7

Creditors

Note

28 October 2024
£

31 March 2024
£

Due within one year

 

Loans and borrowings

8

289,042

64,634

Trade creditors

 

100,309

57,143

Taxation and social security

 

17,808

7,505

Corporation tax liability

 

39,278

68,977

Other creditors

 

20,182

5,195

 

466,619

203,454

Due after one year

 

Loans and borrowings

8

-

230,747

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)

8

Loans and borrowings

28 October 2024
£

31 March 2024
£

Current loans and borrowings

Bank borrowings

280,840

64,634

Other borrowings

8,202

-

289,042

64,634

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

28 October 2024
£

31 March 2024
£

Bank borrowings

280,840

64,634

Bank borrowings are secured by fixed and floating charges over the company's assets.

 

28 October 2024
£

31 March 2024
£

Non-current loans and borrowings

Bank borrowings

-

230,747

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

28 October 2024
£

31 March 2024
£

Bank borrowings

-

230,747

Bank borrowings are secured by fixed and floating charges over the company's assets.
 

 

Ivory Dental Care Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 28 October 2024 (continued)

9

Related party transactions

Transactions with directors

2024

At 1 April 2024
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 28 October 2024
£

G Readshaw

Loan

14,962

-

(14,962)

-

-

-

-

               
         

S Readshaw

Loan

14,962

-

(14,962)

-

-

-

-

               
         

 

2024

At 1 April 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 31 March 2024
£

G Readshaw

Loan

12,838

15,541

(674)

-

(13,066)

323

14,962

               
         

S Readshaw

Loan

12,838

15,407

(673)

-

(12,934)

324

14,962

               
         

 

Directors' advances are repayable on demand.

No interest has been charged on advances to directors.