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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes.
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 or valuation |
Fixtures, Fittings and Equipment |
|
Total |
|
£ |
|
£ |
At 01 April 2019 |
18,037 |
|
18,037 |
Additions |
- |
|
- |
Disposals |
- |
|
- |
At 31 March 2020 |
18,037 |
|
18,037 |
Depreciation |
At 01 April 2019 |
13,436 |
|
13,436 |
Charge for year |
1,150 |
|
1,150 |
On disposals |
- |
|
- |
At 31 March 2020 |
14,586 |
|
14,586 |
Net book values |
Closing balance as at 31 March 2020 |
3,451 |
|
3,451 |
Opening balance as at 01 April 2019 |
4,601 |
|
4,601 |
|
3. |
Stocks
|
2020 £ |
|
2019 £ |
Stocks |
6,737 |
|
6,123 |
|
6,737 |
|
6,123 |
|
4. |
Debtors: amounts falling due within one year
|
2020 £ |
|
2019 £ |
Trade Debtors |
20,086 |
|
16,590 |
Prepayments & Accrued Income |
209 |
|
1,051 |
|
20,295 |
|
17,641 |
|
5. |
Creditors: amount falling due within one year
|
2020 £ |
|
2019 £ |
Trade Creditors |
15,868 |
|
16,685 |
PAYE & Social Security |
4,523 |
|
1,664 |
Accrued Expenses |
8,006 |
|
7,508 |
Other Creditors |
41,134 |
|
67,285 |
Director: Dr Gabriela Gomez Romero |
10,453 |
|
10,270 |
|
79,984 |
|
103,412 |
|
6. |
Share Capital
Authorised
1,000 Class A shares of £1.00 each 1,000 Class B shares of £1.00 each
Allotted, called up and fully paid
|
2020 £ |
|
2019 £ |
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. |
Average number of employees
The average monthly number of employees, including directors, during the year/period was 6 (2019 : 6)
|
8. |
Financial Commitments
At 31 March 2020 the company had annual commitments under non-cancellable operating leases as follows:
Land and Building
2020 2019
Expiry Date: |
|
£ £ |
|
£ £ |
Within one year |
|
- |
|
43,200 |
|
|
- |
|
43,200 |
|
9. |
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.
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3
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