Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 4 |
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| Tangible assets | 5 |
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| 1,629,486 | 1,727,328 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| 653,445 | 559,316 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 89,635 | 70,887 | ||
| Total assets less current liabilities | 1,719,121 | 1,798,215 | ||
| Creditors: amounts falling due after more than one year | 8 | (
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| Provision for liabilities | 9 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 10 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Circus Dental Limited (registered number:
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J J Cowie
Director |
C McGuirk
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Circus Dental 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 Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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 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 corporation 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
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit andloss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Goodwill |
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The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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:
| Leasehold improvements |
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| Plant and machinery |
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| Office equipment |
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Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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 stocks 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.
Classification:
The company holds the following financial instruments:
Short term trade and other debtors and creditors;
Bank loans; and
Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement:
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts recognised as distributions to equity holders in the financial year: | |||
| Interim dividend for the financial year ended 30 September 2024 of £117.29 (2023: £127.75) per ordinary A share | 117,286 | 127,754 | |
| Interim dividend for the financial year ended 30 September 2024 of £184.92 (2023: £241.87) per ordinary B share | 184,915 | 241,874 | |
| Interim dividend for the financial year ended 30 September 2024 of £141 (2023: £158.67) per ordinary C share | 141,005 | 158,671 | |
| Interim dividend for the financial year ended 30 September 2024 of £160.79 (2023: £192.92) per ordinary D share | 160,788 | 192,918 | |
| Interim dividend for the financial year ended 30 September 2024 of £145.31 (2023: £171.35) per ordinary E share | 145,314 | 171,350 | |
| 749,308 | 892,567 | ||
| Goodwill | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2023 |
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| At 30 September 2024 |
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| Accumulated amortisation | |||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||
| At 30 September 2024 |
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| At 30 September 2023 |
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| Leasehold improve- ments |
Plant and machinery | Office equipment | Total | ||||
| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 October 2023 |
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| Additions |
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| Disposals |
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| At 30 September 2024 |
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| Accumulated depreciation | |||||||
| At 01 October 2023 |
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| Charge for the financial year |
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| At 30 September 2024 |
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| Net book value | |||||||
| At 30 September 2024 |
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| At 30 September 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Prepayments |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Accruals |
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| Taxation and social security |
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| Payments received on account |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts |
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| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| Credited/(charged) to the Statement of Income and Retained Earnings |
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| At the end of financial year | (
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 5,000 | 5,000 |
Commitments
| 2024 | 2023 | ||
| £ | £ | ||
| Total future minimum lease payments under non-cancellable operating lease |
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Transactions with owners holding a participating interest in the entity
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed (to)/from corporate shareholders | (7,728) | (6,393) |
Transactions with entities in which the entity itself has a participating interest
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed (to)/from Circus Education Limited | 16,491 | 2,895 |