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REGISTRAR OF COMPANIES

Registration number: 06041288

Spedding Dental Clinic Limited

Unaudited Financial Statements

28 February 2025

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Spedding Dental Clinic Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Spedding Dental Clinic Limited
for the Year Ended 28 February 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Spedding Dental Clinic Limited for the year ended 28 February 2025 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Spedding Dental Clinic Limited, as a body, in accordance with the terms of our engagement letter dated 15 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of Spedding Dental Clinic Limited and state those matters that we have agreed to state to the Board of Directors of Spedding Dental Clinic Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spedding Dental Clinic Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Spedding Dental Clinic Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Spedding Dental Clinic Limited. You consider that Spedding Dental Clinic Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Spedding Dental Clinic Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

24 June 2025

 

Spedding Dental Clinic Limited

(Registration number: 06041288)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

-

30,443

Tangible assets

5

199,569

219,155

Other financial assets

6

556,940

416,730

 

756,509

666,328

Current assets

 

Stocks

7

23,000

25,000

Debtors

8

329,539

262,509

Cash at bank and in hand

 

218,518

212,962

 

571,057

500,471

Creditors: Amounts falling due within one year

9

(232,323)

(206,662)

Net current assets

 

338,734

293,809

Total assets less current liabilities

 

1,095,243

960,137

Provisions for liabilities

(46,278)

(46,638)

Net assets

 

1,048,965

913,499

Capital and reserves

 

Allotted, called up and fully paid share capital

200

200

Profit and loss account

1,048,765

913,299

Total equity

 

1,048,965

913,499

 

Spedding Dental Clinic Limited

(Registration number: 06041288)
Balance Sheet as at 28 February 2025 (continued)

For the financial year ending 28 February 2025 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 and 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 24 June 2025 and signed on its behalf by:
 

.........................................

J I A Fryer-Spedding

Director

.........................................

K A Fryer-Spedding

Company secretary and director

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

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:
73 Warwick Road
CARLISLE
CA1 1EB

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.


Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025 (continued)

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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:

Asset class

Depreciation method and rate

Long leasehold land and buildings

5% straight line basis

Plant and equipment

15% reducing balance basis

Furniture, fittings and office equipment

15% reducing balance basis and 33% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

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.

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025 (continued)

Trade debtors

Trade debtors are amounts due from customers for the sale of goods 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025 (continued)

Financial instruments

Classification
Equity shares and debt securities
 Recognition and measurement
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 Impairment
For instruments measured at cost less impairment the impairment is the difference between the assets' carrying amount and the best estimate the entity would receive for the asset if it were sold at the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 18).

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2024

507,433

507,433

At 28 February 2025

507,433

507,433

Amortisation

At 1 March 2024

476,990

476,990

Amortisation charge

30,443

30,443

At 28 February 2025

507,433

507,433

Carrying amount

At 28 February 2025

-

-

At 29 February 2024

30,443

30,443

5

Tangible assets

Long leasehold land and buildings
£

Plant and equipment
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 March 2024

102,166

201,824

247,642

551,632

Additions

-

3,060

6,115

9,175

At 28 February 2025

102,166

204,884

253,757

560,807

Depreciation

At 1 March 2024

12,544

147,364

172,569

332,477

Charge for the year

5,108

8,573

15,080

28,761

At 28 February 2025

17,652

155,937

187,649

361,238

Carrying amount

At 28 February 2025

84,514

48,947

66,108

199,569

At 29 February 2024

89,622

54,460

75,073

219,155

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025 (continued)

6

Other financial assets (current and non-current)

2025
£

2024
£

Non-current financial assets

Financial assets at fair value through profit and loss

556,940

416,730

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 March 2024

416,730

416,730

Additions

312,016

312,016

Fair value adjustments

28,027

28,027

Disposals

(199,833)

(199,833)

At 28 February 2025

556,940

556,940

Impairment

Carrying amount

At 28 February 2025

556,940

556,940

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025 (continued)

7

Stocks

2025
£

2024
£

Other inventories

23,000

25,000

8

Debtors

2025
£

2024
£

Other debtors

329,539

262,509

329,539

262,509

9

Creditors

2025
£

2024
£

Due within one year

 

Trade creditors

 

19,860

31,246

Taxation and social security

 

7,723

7,361

Corporation tax liability

 

144,683

108,986

Other creditors

 

60,057

59,069

 

232,323

206,662

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £231,875 (2024 - £249,375). This relates to the lease of the business' property, of which 13 years are remaining.

 

Spedding Dental Clinic Limited

Notes to the Financial Statements for the Year Ended 28 February 2025 (continued)

11

Related party transactions

Transactions with directors

2025

At 1 March 2024
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 28 February 2025
£

J I A Fryer-Spedding

Directors loan

131,255

200,174

(37,392)

-

(131,500)

2,233

164,770

               
         

K A Fryer-Spedding

Directors loan

131,254

200,174

(37,392)

-

(131,500)

2,233

164,769

               
         

 

2024

At 1 March 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 29 February 2024
£

J I A Fryer-Spedding

Directors loan

109,327

169,927

(40,752)

-

(110,000)

2,753

131,255

               
         

K A Fryer-Spedding

Directors loan

109,327

169,926

(40,752)

-

(110,000)

2,753

131,254

               
         

 

Directors' advances are repayable on demand.

Interest has been charged at a rate of 2% and 2.25% on advances to directors.

12

Financial instruments

Financial assets measured at fair value

Portfolio of bonds, equities, commodities and property
Fair value based on traded prices in an active market

The fair value is £556,940 (2024 - £416,730) and the change in value included in profit or loss is £28,027 (2024 - £18,636).