Silverfin false false 31/08/2024 01/09/2023 31/08/2024 H M Du Preez 24/08/2022 26 February 2025 The principal activity of the Company during the financial year was that of dental practitioners. 14315228 2024-08-31 14315228 bus:Director1 2024-08-31 14315228 2023-08-31 14315228 core:CurrentFinancialInstruments 2024-08-31 14315228 core:CurrentFinancialInstruments 2023-08-31 14315228 core:Non-currentFinancialInstruments 2024-08-31 14315228 core:Non-currentFinancialInstruments 2023-08-31 14315228 core:ShareCapital 2024-08-31 14315228 core:ShareCapital 2023-08-31 14315228 core:RetainedEarningsAccumulatedLosses 2024-08-31 14315228 core:RetainedEarningsAccumulatedLosses 2023-08-31 14315228 core:LandBuildings 2023-08-31 14315228 core:OtherPropertyPlantEquipment 2023-08-31 14315228 core:LandBuildings 2024-08-31 14315228 core:OtherPropertyPlantEquipment 2024-08-31 14315228 2023-09-01 2024-08-31 14315228 bus:FilletedAccounts 2023-09-01 2024-08-31 14315228 bus:SmallEntities 2023-09-01 2024-08-31 14315228 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 14315228 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 14315228 bus:Director1 2023-09-01 2024-08-31 14315228 core:LandBuildings 2023-09-01 2024-08-31 14315228 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-09-01 2024-08-31 14315228 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-09-01 2024-08-31 14315228 2022-08-24 2023-08-31 14315228 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 14315228 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Company No: 14315228 (England and Wales)

LAKESIDE HOUSE DENTAL PRACTICE LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

LAKESIDE HOUSE DENTAL PRACTICE LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

LAKESIDE HOUSE DENTAL PRACTICE LIMITED

BALANCE SHEET

As at 31 August 2024
LAKESIDE HOUSE DENTAL PRACTICE LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 31.08.2024 31.08.2023
£ £
Fixed assets
Tangible assets 3 387,219 422,962
387,219 422,962
Current assets
Stocks 4 4,116 3,996
Debtors 5 13,676 3,122
Cash at bank and in hand 336,050 170,189
353,842 177,307
Creditors: amounts falling due within one year 6 ( 133,533) ( 104,943)
Net current assets 220,309 72,364
Total assets less current liabilities 607,528 495,326
Creditors: amounts falling due after more than one year 7 ( 407,598) ( 449,411)
Net assets 199,930 45,915
Capital and reserves
Called-up share capital 100 100
Profit and loss account 199,830 45,815
Total shareholder's funds 199,930 45,915

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Lakeside House Dental Practice Limited (registered number: 14315228) were approved and authorised for issue by the Director on 26 February 2025. They were signed on its behalf by:

H M Du Preez
Director
LAKESIDE HOUSE DENTAL PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
LAKESIDE HOUSE DENTAL PRACTICE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Lakeside House Dental Practice Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of dental services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts. The company recognises revenue as contract activity progresses.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 % reducing balance
Plant and machinery etc. 4 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
31.08.2024
Period from
24.08.2022 to
31.08.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 7

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 September 2023 156,381 278,935 435,316
At 31 August 2024 156,381 278,935 435,316
Accumulated depreciation
At 01 September 2023 3,253 9,101 12,354
Charge for the financial year 7,657 28,086 35,743
At 31 August 2024 10,910 37,187 48,097
Net book value
At 31 August 2024 145,471 241,748 387,219
At 31 August 2023 153,128 269,834 422,962

4. Stocks

31.08.2024 31.08.2023
£ £
Stocks 4,116 3,996

5. Debtors

31.08.2024 31.08.2023
£ £
Other debtors 13,676 3,122

6. Creditors: amounts falling due within one year

31.08.2024 31.08.2023
£ £
Bank loans 8,207 7,705
Trade creditors 21,793 8,789
Other taxation and social security 0 2,127
Obligations under finance leases and hire purchase contracts 35,460 30,893
Other creditors 68,073 55,429
133,533 104,943

7. Creditors: amounts falling due after more than one year

31.08.2024 31.08.2023
£ £
Bank loans 211,542 217,896
Obligations under finance leases and hire purchase contracts 196,056 231,515
407,598 449,411

Security has been given by the company over bank borrowings falling due in less than one year and after more than one year with an aggregate value of £219,749 (2023: £225,601).