Registered number
06357879
Synergy Dental Clinic Ltd
Filleted Accounts
31 August 2024
Synergy Dental Clinic Ltd
Registered number: 06357879
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,009,940 1,196,152
Investments 4 1,041,264 1,041,114
3,051,204 2,237,266
Current assets
Stocks 3,010 3,168
Debtors 5 1,838,080 2,566,640
Cash at bank and in hand 215,394 133,522
2,056,484 2,703,330
Creditors: amounts falling due within one year 6 (295,550) (419,057)
Net current assets 1,760,934 2,284,273
Total assets less current liabilities 4,812,138 4,521,539
Creditors: amounts falling due after more than one year 7 (742,674) (751,522)
Provisions for liabilities (68,803) (85,689)
Net assets 4,000,661 3,684,328
Capital and reserves
Called up share capital 83 83
Share premium 17 17
Profit and loss account 4,000,561 3,684,228
Shareholders' funds 4,000,661 3,684,328
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Z Bagasi
Director
Approved by the board on 3 January 2025
Synergy Dental Clinic Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Investment properties nil
Leasehold land and buildings over the lease term
Plant and equipment 20% Reducing balance
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 40 45
3 Tangible fixed assets
Land and buildings Plant and machinery etc Investment property Total
£ £ £ £
Cost
At 1 September 2023 980,398 879,384 - 1,859,782
Additions - 6,194 910,233 916,427
At 31 August 2024 980,398 885,578 910,233 2,776,209
Depreciation
At 1 September 2023 134,016 529,614 - 663,630
Charge for the year 32,556 70,083 - 102,639
At 31 August 2024 166,572 599,697 - 766,269
Net book value
At 31 August 2024 813,826 285,881 910,233 2,009,940
At 31 August 2023 846,382 349,770 - 1,196,152
The fair value of the investment properties have been determined by the directors based on the market value of properties of similar nature.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 September 2023 1,041,114
Additions 150
At 31 August 2024 1,041,264
5 Debtors 2024 2023
£ £
Trade debtors 216,730 207,793
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,416,231 1,281,896
Other debtors 205,119 1,076,951
1,838,080 2,566,640
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 188,256 138,022
Taxation and social security costs 21,477 97,673
Other creditors 85,817 183,362
295,550 419,057
7 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 742,674 751,522
8 Related party transactions
During the year the company received dividend of £577,746 (2023:£1,401,020) from various group companies.
9 Controlling party
During the year the company was under the control of the directors.
10 Other information
Synergy Dental Clinic Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Oceanic House Navigation Business Park
94 Water Meeting Road
Bolton
BL1 8SW
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