Amersham Dental Care Limited - Period Ending 2022-03-31

Amersham Dental Care Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Amersham Dental Care Limited

Balance Sheet

31 March 2022

	Note	2022 £	2021 £
Fixed assets
Intangible assets	4	2,130	3,955
Tangible assets	5	65,118	16,768
		67,248	20,723
Current assets
Debtors	6	198,364	82,438
Cash at bank and in hand		46,173	87,248
		244,537	169,686
Creditors: Amounts falling due within one year	7	(173,772)	(137,874)
Net current assets		70,765	31,812
Total assets less current liabilities		138,013	52,535
Creditors: Amounts falling due after more than one year	7	(33,067)	-
Net assets		104,946	52,535
Capital and reserves
Called up share capital	9	2	2
Profit and loss account		104,944	52,533
Shareholders' funds		104,946	52,535

Amersham Dental Care Limited

Balance Sheet

31 March 2022

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 December 2022 and signed on its behalf by:
 

......................................... Dr R S Dharwar Director

Company Registration Number: 06538485

Amersham Dental Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Francis Clark LLP
North Quay House
Sutton Harbour
Plymouth
PL4 0RA

The principal place of business is:
146 Station Road
Amersham
Buckinghamshire
HP6 5DW

These financial statements were authorised for issue by the Board on 6 December 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Amersham Dental Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	20% reducing balance
Computer Equipment	20% reducing balance
Property Improvements	Not depreciated

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	fully amortised
Website	33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Amersham Dental Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2021 - 7).

Amersham Dental Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

4	Intangible assets

	Goodwill  £	Website costs £	Total £
Cost or valuation
At 1 April 2021	400,000	5,476	405,476
At 31 March 2022	400,000	5,476	405,476
Amortisation
At 1 April 2021	400,000	1,521	401,521
Amortisation charge	-	1,825	1,825
At 31 March 2022	400,000	3,346	403,346
Carrying amount
At 31 March 2022	-	2,130	2,130
At 31 March 2021	-	3,955	3,955

5	Tangible assets

	Furniture, fittings and equipment  £	Other Property, Plant and machinery £	Total £
Cost or valuation
At 1 April 2021	94,594	-	94,594
Additions	4,034	51,310	55,344
At 31 March 2022	98,628	51,310	149,938
Depreciation
At 1 April 2021	77,826	-	77,826
Charge for the year	3,622	3,372	6,994
At 31 March 2022	81,448	3,372	84,820
Carrying amount
At 31 March 2022	17,180	47,938	65,118
At 31 March 2021	16,768	-	16,768

Amersham Dental Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

6

Debtors

Current	Note	2022 £	2021 £
Amounts owed by related parties		153,875	42,295
Other debtors		44,489	40,143

7

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Loans and borrowings	9,228	-
Trade creditors	56,951	60,143
Taxation and social security	1,662	28,717
Accruals and deferred income	1,200	1,200
Other creditors	104,731	47,814
	173,772	137,874

Creditors: amounts falling due after more than one year

	Note	2022 £	2021 £
Due after one year
Loans and borrowings	8	33,067	-

8	Loans and borrowings

	2022 £	2021 £
Loans and borrowings due after one year
HP and finance lease liabilities	33,067	-

	2022 £	2021 £
Current loans and borrowings
Hire purchase contracts	9,228	-

Amersham Dental Care Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2022

9	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary A of £1 each	1	1	1	1
Ordinary B of £1 each	1	1	1	1
	2	2	2	2

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £140,625 (2021 - £163,125).

11	Parent and ultimate parent undertaking

The company's immediate parent is Dentalcare Group Limited, incorporated in United Kingdom.

  These financial statements are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ

 The ultimate controlling party is id the directors, Dr R S Dharwar and Dr R K Dharwar by virtue of their majority shareholding in Dentalcare Group Limited..