LIC Dental Clinic Limited - Accounts

LIC Dental Clinic Limited - Accounts

LIC DENTAL CLINIC LIMITED - Company Information

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Registered Number: 08722410
England and Wales

 

 

 

LIC DENTAL CLINIC LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2018

End date: 31 March 2019

LIC Dental Clinic Limited
Contents Page
For the year ended 31 March 2019
Directors Mr Katsumasa Niimura
Dr Gabriela Gomez Romero
Registered Number 08722410
Registered Office Unit 13
2 Artichoke Hill
London
E1W 2DE
Trading Address 234 Hendon Way
Hendon Central
London
NW4 3NE
Accountants P and Co LLP Chartered Accountants
Unit 13
2 Artichoke Hill
London
E1W 2DE
Bankers Barclays Bank PLC
Hampstead
Leicestershire
LE87 2BB
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LIC Dental Clinic Limited for the year ended 31 March 2019 which comprise the Statement of Comprehensive Income, the Statement of Financial Position and related notes 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, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of LIC Dental Clinic Limited, as a body, in accordance with the terms of our engagement letter dated 31 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of LIC Dental Clinic Limited and state those matters that we have agreed to state to the Board of Directors of LIC Dental Clinic Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LIC 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 LIC Dental Clinic Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and Profit of LIC Dental Clinic Limited. You consider that LIC 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 financial statements of LIC 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 financial statements.



....................................................
P and Co LLP Chartered Accountants
Unit 13
2 Artichoke Hill
London
E1W 2DE
10 December 2019
2
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 4,601    6,135 
4,601    6,135 
Current assets      
Stocks 3 6,123    4,308 
Debtors: amounts falling due within one year 4 17,641    24,582 
Cash at bank and in hand 31,293    28,617 
55,057    57,507 
Creditors: amount falling due within one year 5 (103,412)   (124,230)
Net current assets (48,355)   (66,723)
 
Total assets less current liabilities (43,754)   (60,588)
Net assets (43,754)   (60,588)
 

Capital and reserves 		     
Called up share capital 6 2,000    2,000 
Profit and loss account (45,754)   (62,588)
Shareholders funds (43,754)   (60,588)
 


For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
Signed on behalf of the board of directors


--------------------------------
Mr Katsumasa Niimura
Director

Date approved by the board: 06 December 2019
3
General Information
LIC Dental Clinic Limited is a private company, limited by shares, registered in England and Wales, registration number 08722410, registration address Unit 13, 2 Artichoke Hill, London, E1W 2DE.

The presentation currency is £ sterling
1.

Accounting Policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures, Fittings and Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost Fixtures, Fittings and Equipment   Total
  £   £
At 01 April 2018 18,037    18,037 
Additions -    - 
Disposals -    - 
At 31 March 2019 18,037    18,037 
Depreciation
At 01 April 2018 11,902    11,902 
Charge for year 1,534    1,534 
On disposals -    - 
At 31 March 2019 13,436    13,436 
Net book values
Closing balance as at 31 March 2019 4,601    4,601 
Opening balance as at 01 April 2018 6,135    6,135 


3.

Stocks

2019
£		   2018
£
Stocks 6,123    4,308 
6,123    4,308 

4.

Debtors: amounts falling due within one year

2019
£		   2018
£
Trade Debtors 16,590    21,439 
Prepayments & Accrued Income 1,051    3,143 
17,641    24,582 

5.

Creditors: amount falling due within one year

2019
£		   2018
£
Trade Creditors 16,685    16,687 
PAYE & Social Security 1,664    4,309 
Accrued Expenses 7,508    8,614 
Other Creditors 67,285    86,099 
Director: Dr Gabriela Gomez Romero 10,270    8,521 
103,412    124,230 

6.

Share Capital

Authorised
1,000 Class A shares of £1.00 each
1,000 Class B shares of £1.00 each
Allotted
2019
£		   2018
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000 Class B shares of £1.00 each 1,000    1,000 
2,000    2,000 

7.

Financial Commitments

At 31 March 2019 the company had annual commitments under non-cancellable operating leases as follows:

                                                                                                                      Land and Building
                                                                                                                       2019                2018

Expiry Date:   £   £
Within one year 43,200 43,200
43,200 43,200
8.

Controlling Party

Dr Tetsujiro Ihara holds 100% of Ordinary A Shares and Mrs Haruyo Niimura holds 100% of Ordinary B Shares of the company's issued share capital.
9.

Average number of employees

The average number of employees during the year is 6 (2018: 5)
4