Oxford Dental Care Limited Filleted accounts for Companies House (small and micro)

OXFORD DENTAL CARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06838468

Oxford Dental Care Limited

Filleted Unaudited Financial Statements

31 March 2021

Oxford Dental Care Limited

Financial Statements

Year ended 31 March 2021

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Oxford Dental Care Limited

Statement of Financial Position

31 March 2021

	2021		2020
Note	£	£	£

Fixed assets

Intangible assets	5	539,220	606,600
Tangible assets	6	105,825	111,861
		---------	---------
		645,045	718,461

Current assets

Stocks		15,262	15,262
Debtors	7	414,062	221,382
Cash at bank and in hand		590,790	473,218
		------------	---------
		1,020,114	709,862

Creditors: amounts falling due within one year	8	313,814		286,522
		------------		---------
Net current assets			706,300	423,340
			------------	------------
Total assets less current liabilities			1,351,345	1,141,801

Creditors: amounts falling due after more than one year	9		126,002	–

Provisions	14,105	13,934
	------------	------------
Net assets	1,211,238	1,127,867
	------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	1,211,236	1,127,865
	------------	------------
Shareholders funds	1,211,238	1,127,867
	------------	------------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2021 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Oxford Dental Care Limited

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 30 March 2022 , and are signed on behalf of the board by:

Dr D R Patel

Director

Company registration number: 06838468

Oxford Dental Care Limited

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

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

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:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	15% reducing balance

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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 21 (2020: 31 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2020 and 31 March 2021	1,348,000
	------------
Amortisation
At 1 April 2020	741,400
Charge for the year	67,380
	------------
At 31 March 2021	808,780
	------------
Carrying amount
At 31 March 2021	539,220
	------------
At 31 March 2020	606,600
	------------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2020	85,868	362,877	448,745
Additions	11,983	–	11,983
	--------	---------	---------
At 31 March 2021	97,851	362,877	460,728
	--------	---------	---------
Depreciation
At 1 April 2020	66,510	270,374	336,884
Charge for the year	4,144	13,875	18,019
	--------	---------	---------
At 31 March 2021	70,654	284,249	354,903
	--------	---------	---------
Carrying amount
At 31 March 2021	27,197	78,628	105,825
	--------	---------	---------
At 31 March 2020	19,358	92,503	111,861
	--------	---------	---------

7. Debtors

	2021	2020
	£	£
Trade debtors	62,605	74,921
Amounts owed by group undertakings and undertakings in which the company has a participating interest	351,457	122,318
Other debtors	–	24,143
	---------	---------
	414,062	221,382
	---------	---------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	37,017	–
Trade creditors	18,730	8,228
Corporation tax	121,388	58,711
Social security and other taxes	10,866	–
Other creditors	125,813	219,583
	---------	---------
	313,814	286,522
	---------	---------

Bank loans and overdrafts are secured by the company by way of a fixed and floating charge over the company's assets.

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

	2021	2020
	£	£
Bank loans and overdrafts	126,002	–
	---------	----

Bank loans and overdrafts are secured by the company by way of a fixed and floating charge over the company's assets.

10. Directors' advances, credits and guarantees

At the year end, the Directors owed the company £nil (2020: £20,635). During the year advances of £75,592 (2020: £25,000) were made to the Directors and repayments of £96,227 (2020: £4,365) were made by the Directors.

11. Related party transactions

At the year end, the company was owed £293,889 (2020: £122,318) from a group company. At the year end, the company was owed £57,568 (2020: £nil) from a group company.

12. Controlling party

The company's parent undertaking is DDR Holdings Limited, a company registered in England and Wales, whose registered office is at 2 Hales Drive, Canterbury, Kent, United Kingdom, CT2 7AB. The ultimate controlling party is Devkipharm Limited, a company registered in England and Wales.