Kingswood Dental Ltd Filleted accounts for Companies House (small and micro)

KINGSWOOD DENTAL LTD - Company Information

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COMPANY REGISTRATION NUMBER: 13677808

KINGSWOOD DENTAL LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

30 June 2022

KINGSWOOD DENTAL LTD

STATEMENT OF FINANCIAL POSITION

30 June 2022

	30 Jun 22
Note	£	£

FIXED ASSETS

Investments	4		1,495,756

CURRENT ASSETS

Debtors	5	945
Cash at bank and in hand		273
		-------
		1,218

CREDITORS: Amounts falling due within one year	6	795,376
		----------
NET CURRENT LIABILITIES			794,158
			-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			701,598

CREDITORS: Amounts falling due after more than one year	7	701,179
		----------
NET ASSETS		419
		----------

CAPITAL AND RESERVES

Called up share capital		2
Profit and loss account		417
		----
SHAREHOLDER FUNDS		419
		----

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 statement of comprehensive income has not been delivered.

For the period ending 30 June 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 member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

KINGSWOOD DENTAL LTD

STATEMENT OF FINANCIAL POSITION (continued)

30 June 2022

These financial statements were approved by the board of directors and authorised for issue on 26 October 2022 , and are signed on behalf of the board by:

Dr R Kingswood
Director

Company registration number: 13677808

KINGSWOOD DENTAL LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 13 OCTOBER 2021 TO 30 JUNE 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 19 Grantham Road, Sleaford, NG34 7ND.

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 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 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) Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

(e) 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.

(f) 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 dedusting all of its liabilities.

4. INVESTMENTS

	Shares in group undertakings
	£
Cost
At 13 October 2021	–
Additions	1,495,756
	-------------
At 30 June 2022	1,495,756
	-------------
Impairment
At 13 October 2021 and 30 June 2022	–
	-------------

Carrying amount
At 30 June 2022	1,495,756
	-------------

5. DEBTORS

	30 Jun 22
	£
Other debtors	945
	----

6. CREDITORS: Amounts falling due within one year

	30 Jun 22
	£
Accruals and deferred income	1,080
Corporation tax	98
Director loan accounts	109,294
Other creditors	684,904
	----------
	795,376
	----------

7. CREDITORS: Amounts falling due after more than one year

	30 Jun 22
	£
Bank loans and overdrafts	701,179
	----------

8. RELATED PARTY TRANSACTIONS

During the period the Director loaned the company £ 109,294 . Interest was charged on the loan at market rate and the loan was repayable on demand.