Norfolk House Dental Care Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07853357 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2018

for

Norfolk House Dental Care Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Dr P J Andrews

Dr S M Robb

REGISTERED OFFICE:

Norfolk House

91 London Road

Gloucester

Gloucestershire

GL1 3HH

REGISTERED NUMBER:

07853357 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

BANKERS:

The Royal Bank of Scotland plc

1 Westgate Street

Gloucester

GL1 2TT

FIXED ASSETS

Intangible assets

4

241,500

322,000

Tangible assets

5

118,348

113,912

359,848

435,912

CURRENT ASSETS

Stocks

30,185

31,471

Debtors

103,107

32,014

Cash at bank and in hand

94,389

72,492

227,681

135,977

CREDITORS

Amounts falling due within one year

106,429

87,958

NET CURRENT ASSETS

121,252

48,019

TOTAL ASSETS LESS CURRENT LIABILITIES

481,100

483,931

CREDITORS

Amounts falling due after more than one year

(22,129

)

(45,568

)

PROVISIONS FOR LIABILITIES

(17,744

)

(15,860

)

NET ASSETS

441,227

422,503

CAPITAL AND RESERVES

Called up share capital

750

750

Retained earnings

440,477

421,753

SHAREHOLDERS' FUNDS

441,227

422,503

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 February 2019 and were signed on its behalf by:

Dr P J Andrews - Director

Dr S M Robb - Director

1.	STATUTORY INFORMATION

Norfolk House Dental Care Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced services and goods.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and

Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party

to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention to

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially

measured at transaction price including transaction costs and are subsequently carried at amortised

cost using the effective interest method unless the arrangement constitutes a financing transaction,

where the transaction is measured at the present value of the future receipts discounted at a market

rate of interest.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset

expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership

to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group

companies and preference shares that are classified as debt, are initially recognised at transaction price

unless the arrangement constitutes a financing transaction, where the debt instrument is measured at

the present value of the future receipts discounted at a market rate of interest.

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 payment is due

within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors

are recognised initially at transaction price and subsequently measured at amortised cost using the

effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

and 31 December 2018

805,000

AMORTISATION

At 1 January 2018

483,000

Amortisation for year

80,500

At 31 December 2018

563,500

NET BOOK VALUE

At 31 December 2018

241,500

At 31 December 2017

322,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

290,270

Additions

35,129

At 31 December 2018

325,399

DEPRECIATION

At 1 January 2018

176,358

Charge for year

30,693

At 31 December 2018

207,051

NET BOOK VALUE

At 31 December 2018

118,348

At 31 December 2017

113,912

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2018

and 31 December 2018

70,200

DEPRECIATION

Charge for year

14,040

At 31 December 2018

14,040

NET BOOK VALUE

At 31 December 2018

56,160

At 31 December 2017

70,200

6.	RELATED PARTY DISCLOSURES

Included in other debtors are amounts due from the directors, P Andrews £22,886 and S Robb £9,574. The

amounts were repaid after the balance sheet date.

7.	ULTIMATE PARENT COMPANY

The ultimate parent company for Norfolk House Dental Care Limited is NHDC Holdings Limited, a company

incorporated in England and Wales.