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Registration number: 10128230

Privatedent Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Privatedent Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Privatedent Limited

Company Information

Directors

Dr Georgios Triantafyllidis

Dr Liliya Makarenko

Registered office

22 Shiphay Park Road
Torquay
Devon
TQ2 7DJ

Accountants

Neil Wilson & Co Chartered Accountants
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Privatedent Limited

(Registration number: 10128230)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

-

114

Cash at bank and in hand

 

25,245

26,162

 

25,245

26,276

Creditors: Amounts falling due within one year

5

15,683

14,433

Net assets

 

40,928

40,709

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

40,926

40,707

Shareholders' funds

 

40,928

40,709

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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 30 December 2024 and signed on its behalf by:
 

.........................................
Dr Georgios Triantafyllidis
Director

 

Privatedent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
22 Shiphay Park Road
Torquay
Devon
TQ2 7DJ

These financial statements were authorised for issue by the Board on 30 December 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current 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.

 

Privatedent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 merchandise 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 company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Privatedent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Debtors

Current

2024
£

2023
£

Trade debtors

(47,707)

-

Other debtors

47,707

114

 

-

114

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,754

1,729

Accruals and deferred income

330

305

Other creditors

(18,767)

(16,467)

(15,683)

(14,433)

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

         

7

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £3,250.00 (2023 - £2,000.00) per each Ordinary share

 

6,500

 

4,000

         

8

Related party transactions

 

Privatedent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Dr Georgios Triantafyllidis

Dr Georgious Triantafyllidis

16,949

18,515

(16,950)

18,514

         
       

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Dr Georgios Triantafyllidis

Dr Georgious Triantafyllidis

19,558

10,000

(12,609)

16,949

         
       

 

 

Privatedent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570

Contributions paid to money purchase schemes

15,000

15,000

27,570

27,570

Dividends paid to directors

   

2024
£

 

2023
£

Dr Georgios Triantafyllidis

       

Interim

 

5,500

 

2,000

         

Dr Liliya Makarenko

       

Interim

 

1,000

 

2,000