Carr Dental Care Limited Filleted accounts for Companies House (small and micro)

Carr Dental Care Limited Filleted accounts for Companies House (small and micro)

CARR DENTAL CARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10113933
CARR DENTAL CARE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 February 2019
CARR DENTAL CARE LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2019
2019
2018
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
400,857
400,857
Tangible assets
6
59,647
62,185
----------
----------
460,504
463,042
CURRENT ASSETS
Debtors
7
20,303
20,013
Cash at bank and in hand
196,319
125,502
----------
----------
216,622
145,515
CREDITORS: Amounts falling due within one year
8
93,585
161,754
----------
----------
NET CURRENT ASSETS/(LIABILITIES)
123,037
( 16,239)
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
583,541
446,803
CREDITORS: Amounts falling due after more than one year
9
239,700
256,175
PROVISIONS
Taxation including deferred tax
11,929
12,437
----------
----------
NET ASSETS
331,912
178,191
----------
----------
CAPITAL AND RESERVES
Called up share capital
115
115
Profit and loss account
331,797
178,076
----------
----------
SHAREHOLDERS FUNDS
331,912
178,191
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
CARR DENTAL CARE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2019
For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 November 2019 , and are signed on behalf of the board by:
Dr T Carr
Director
Company registration number: 10113933
CARR DENTAL CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2019
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Minster Dental Centre, Lower Kirklington Road, Southwell, Nottinghamshire, NG25 0DN.
2. 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'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
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 stage of completion.
(c) Current & deferred tax
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 amounts 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 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.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation
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:
Dental equipment
-
15% reducing balance
Office Equipment
-
20% reducing balance
Minster Dental Care equipment
-
15% reducing balance
(f) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(g) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(h) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in 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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 March 2018 and 28 February 2019
400,857
----------
Amortisation
At 1 March 2018 and 28 February 2019
–
----------
Carrying amount
At 28 February 2019
400,857
----------
At 28 February 2018
400,857
----------
6. TANGIBLE ASSETS
Plant and machinery
Equipment
Minster Dental Care Equipment
Total
£
£
£
£
Cost
At 1 March 2018
18,620
–
119,154
137,774
Additions
–
305
8,032
8,337
--------
----
----------
----------
At 28 February 2019
18,620
305
127,186
146,111
--------
----
----------
----------
Depreciation
At 1 March 2018
3,259
–
72,330
75,589
Charge for the year
2,304
61
8,510
10,875
--------
----
----------
----------
At 28 February 2019
5,563
61
80,840
86,464
--------
----
----------
----------
Carrying amount
At 28 February 2019
13,057
244
46,346
59,647
--------
----
----------
----------
At 28 February 2018
15,361
–
46,824
62,185
--------
----
----------
----------
7. DEBTORS
2019
2018
£
£
Trade debtors
20,303
20,013
--------
--------
8. CREDITORS: Amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
25,890
25,372
Trade creditors
681
679
Amounts owed to undertakings in which the company has a participating interest
14,693
27,558
Accruals and deferred income
2,400
2,400
Corporation tax
47,085
51,776
Directors loan account
2,836
53,969
--------
----------
93,585
161,754
--------
----------
9. CREDITORS: Amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
239,700
256,175
----------
----------