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WIMPOLE STREET ENDODONTICS LIMITED

Registered Number
08658446
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

WIMPOLE STREET ENDODONTICS LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

PITKAUSKIENE, Daiva, Dr

Registered Address

Ground Floor Suite
53 Wimpole Street
London
W1G 8YH

Registered Number

08658446 (England and Wales)
WIMPOLE STREET ENDODONTICS LIMITED
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets328,92035,899
28,92035,899
Current assets
Debtors4,530,31331,831
Cash at bank and on hand6,4098,569
36,72240,400
Creditors amounts falling due within one year6(56,620)(34,102)
Net current assets (liabilities)(19,898)6,298
Total assets less current liabilities9,02242,197
Creditors amounts falling due after one year7(61,038)(70,311)
Provisions for liabilities8(5,495)-
Net assets(57,511)(28,114)
Capital and reserves
Called up share capital100100
Profit and loss account(57,611)(28,214)
Shareholders' funds(57,511)(28,114)
The financial statements were approved and authorised for issue by the Director on 16 April 2025, and are signed on its behalf by:
PITKAUSKIENE, Daiva, Dr
Director
Registered Company No. 08658446
WIMPOLE STREET ENDODONTICS LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
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.
Revenue from rendering of services
Revenue 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Office Equipment4
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 September 2344,3562,5283,37850,262
Additions5,280-4595,739
At 31 August 2449,6362,5283,83756,001
Depreciation and impairment
At 01 September 2312,1532911,91914,363
Charge for year11,46463262212,718
At 31 August 2423,6179232,54127,081
Net book value
At 31 August 2426,0191,6051,29628,920
At 31 August 2332,2032,2371,45935,899
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables21,09428,210
Other debtors5,039-
Prepayments and accrued income4,1803,621
Total30,31331,831
5.Debtors: amounts due after one year
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,338-
Bank borrowings and overdrafts47,53922,829
Taxation and social security2,1119,715
Other creditors2,073118
Accrued liabilities and deferred income1,5591,440
Total56,62034,102
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts61,03870,311
Total61,03870,311
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,495-
Total5,495-
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
PITKAUSKIENE, Daiva, Dr7,11616,90818,9855,039
7,11616,90818,9855,039
Director's loan account have debit balance of £5,039 as on 31/08/2024.