Malvern Dental & Implant Clinic Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 10676135 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Malvern Dental & Implant Clinic Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr G S Bajwa

Dr F J Desai

REGISTERED OFFICE:

14 Albert Road

Tamworth

Staffordshire

B79 7JN

REGISTERED NUMBER:

10676135 (England and Wales)

ACCOUNTANTS:

Onyx Accountants Ltd

Chartered Management Accountants

Onyx House

12 Phoenix Business Park

Avenue Close

Birmingham

West Midlands

B7 4NU

FIXED ASSETS

Intangible assets

4

202,425

242,742

Tangible assets

5

153,788

177,759

356,213

420,501

CURRENT ASSETS

Stocks

25,278

3,506

Debtors

6

22,718

24,497

Cash at bank and in hand

300,678

177,949

348,674

205,952

CREDITORS

Amounts falling due within one year

407,871

311,907

NET CURRENT LIABILITIES

(59,197

)

(105,955

)

TOTAL ASSETS LESS CURRENT LIABILITIES

297,016

314,546

CREDITORS

Amounts falling due after more than one year

(284,102

)

(520,074

)

PROVISIONS FOR LIABILITIES

(21,073

)

(21,770

)

NET LIABILITIES

(8,159

)

(227,298

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(8,161

)

(227,300

)

SHAREHOLDERS' FUNDS

(8,159

)

(227,298

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 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 and authorised for issue on 21 October 2022 and were signed on its behalf by:

Dr F J Desai - Director

Dr G S Bajwa - Director

1.	STATUTORY INFORMATION

Malvern Dental & Implant Clinic 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

20% on cost

Plant and machinery

-

15% on cost

Computer equipment

-

25% 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.

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 balance sheet date.

Deferred tax

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2021 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

and 31 March 2022

403,177

AMORTISATION

At 1 April 2021

160,435

Amortisation for year

40,317

At 31 March 2022

200,752

NET BOOK VALUE

At 31 March 2022

202,425

At 31 March 2021

242,742

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

282,362

Additions

28,046

At 31 March 2022

310,408

DEPRECIATION

At 1 April 2021

104,603

Charge for year

52,017

At 31 March 2022

156,620

NET BOOK VALUE

At 31 March 2022

153,788

At 31 March 2021

177,759

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Amounts owed by participating interests

-

4,782