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 2022

CARR DENTAL CARE LIMITED

STATEMENT OF FINANCIAL POSITION

28 February 2022

	2022		2021
Note	£	£	£	£

FIXED ASSETS

Intangible assets	5	400,857	400,857
Tangible assets	6	56,660	56,217
		----------	----------
		457,517	457,074

CURRENT ASSETS

Debtors	7	76,955	26,530
Cash at bank and in hand		359,386	514,401
		----------	----------
		436,341	540,931

CREDITORS: amounts falling due within one year	8	80,329		150,139
		----------		----------
NET CURRENT ASSETS			356,012		390,792
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			813,529		847,866

CREDITORS: amounts falling due after more than one year	9		–		227,163

PROVISIONS

Taxation including deferred tax	11,332	11,243
	----------	----------
NET ASSETS	802,197	609,460
	----------	----------

CAPITAL AND RESERVES

Called up share capital	115	115
Profit and loss account	802,082	609,345
	----------	----------
SHAREHOLDERS FUNDS	802,197	609,460
	----------	----------

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 Section 1A of 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 2022

For the year ending 28 February 2022 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 3 October 2022 , 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 2022

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) Going concern

In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

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.

(d) 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.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) 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

(g) 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.

(h) 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.

(i) 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.

(j) 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 (2021: 1 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 March 2021 and 28 February 2022	400,857
	----------
Amortisation
At 1 March 2021 and 28 February 2022	–
	----------
Carrying amount
At 28 February 2022	400,857
	----------
At 28 February 2021	400,857
	----------

6. TANGIBLE ASSETS

	Dental equipment	Office equipment	Minster Dental Care equipment	Total
	£	£	£	£
Cost
At 1 March 2021	18,620	784	144,372	163,776
Additions	–	–	11,994	11,994
	--------	----	----------	----------
At 28 February 2022	18,620	784	156,366	175,770
	--------	----	----------	----------
Depreciation
At 1 March 2021	9,187	322	98,050	107,559
Charge for the year	1,415	92	10,044	11,551
	--------	----	----------	----------
At 28 February 2022	10,602	414	108,094	119,110
	--------	----	----------	----------
Carrying amount
At 28 February 2022	8,018	370	48,272	56,660
	--------	----	----------	----------
At 28 February 2021	9,433	462	46,322	56,217
	--------	----	----------	----------

7. DEBTORS

	2022	2021
	£	£
Trade debtors	37,166	25,121
Amounts owed by group undertakings and undertakings in which the company has a participating interest	39,789	1,409
	--------	--------
	76,955	26,530
	--------	--------

8. CREDITORS: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	–	20,016
Trade creditors	798	792
Accruals and deferred income	7,258	2,400
Corporation tax	61,640	55,159
Directors loan account	10,633	71,772
	--------	----------
	80,329	150,139
	--------	----------

9. CREDITORS: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	–	227,163
	----	----------

10. RELATED PARTY TRANSACTIONS

During the year, the company operated a directors loan account with the directors. This loan was repayable on demand. At the year end date, the company owed the directors £ 10,633 (2021: £ 71,772 ).