FITZ PARK DENTAL PRACTICE LIMITED


Director	WELCH, Simon


Registered Address	Croft Head Farm
	Applethwaite
	Keswick
	CA12 4PN


Registered Number	10432961 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		700,000		700,000
Tangible assets	4		57,414		64,864
			757,414		764,864
Current assets
Stocks	5	7,146		7,603
Debtors		7,739		10,402
Cash at bank and on hand		173,453		128,749
		188,338		146,754
Creditors amounts falling due within one year	6	(166,172)		(245,020)
Net current assets (liabilities)			22,166		(98,266)
Total assets less current liabilities			779,580		666,598
Creditors amounts falling due after one year	7		(50,205)		(66,348)
Provisions for liabilities	9		(12,010)		(13,362)
Net assets			717,365		586,888
Capital and reserves
Called up share capital			100		100
Profit and loss account			717,265		586,788
Shareholders' funds			717,365		586,888

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 11 December 2025, and are signed on its behalf by:

WELCH, Simon
Director
Registered Company No. 10432961

FITZ PARK DENTAL PRACTICE LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

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
	These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Basis of preparation
	The financial statements have been prepared on the historical cost basis.

	Functional and presentation currency
	The financial statements are presented in sterling, which is the functional currency of the entity.

	Going concern
	The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine.  All these matters have impacted the company's trading results to a greater or lesser extent.  At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

	Revenue from sale of goods
	The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year end date is recognised by reference to the state of completion.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Employee benefits

Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.

Current taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Finance leases and hire purchase contracts
	Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. 

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

	Stocks and work in progress
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing the stock to its present location and condition.

	Government grants or assistance
	Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Government grants or assistance

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	10		9

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	700,000	700,000
At 31 March 25	700,000	700,000
Net book value
At 31 March 25	700,000	700,000
At 31 March 24	700,000	700,000

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	206	83,302	75,258	158,766
Additions	-	8,334	3,327	11,661
At 31 March 25	206	91,636	78,585	170,427
Depreciation and impairment
At 01 April 24	72	53,170	40,660	93,902
Charge for year	13	9,617	9,481	19,111
At 31 March 25	85	62,787	50,141	113,013
Net book value
At 31 March 25	121	28,849	28,444	57,414
At 31 March 24	134	30,132	34,598	64,864

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	7,146	7,603
Total	7,146	7,603

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	36,640	37,097
Bank borrowings and overdrafts	61,379	135,256
Taxation and social security	64,839	69,354
Accrued liabilities and deferred income	3,314	3,313
Total	166,172	245,020

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	50,205	66,348
Total	50,205	66,348

8.	Obligations under finance leases

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	12,010	13,362
Total	12,010	13,362

10.	Related party transactions
	During the year the Director loaned the Company £44,262 (2024: £119,581). This loan was interest free and repayable upon demand.