Persias Dental Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06393954 (England and Wales)

PERSIAS DENTAL LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2022

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Barez

SECRETARY:

Miss M Akbarzabeh

REGISTERED OFFICE:

923 Finchley Road

Golders Green

London

NW11 7PE

REGISTERED NUMBER:

06393954 (England and Wales)

ACCOUNTANTS:

Joseph Kahan Associates LLP

Chartered Accountants

923 Finchley Road

London

NW11 7PE

FIXED ASSETS

Intangible assets

4

-

31,200

Tangible assets

5

139,205

131,702

139,205

162,902

CURRENT ASSETS

Debtors

961

-

Cash at bank

837,317

378,054

838,278

378,054

CREDITORS

Amounts falling due within one year

460,165

134,437

NET CURRENT ASSETS

378,113

243,617

TOTAL ASSETS LESS CURRENT LIABILITIES

517,318

406,519

CREDITORS

Amounts falling due after more than one year

6

(98,416

)

(115,812

)

PROVISIONS FOR LIABILITIES

(21,493

)

(20,067

)

NET ASSETS

397,409

270,640

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

397,309

270,540

SHAREHOLDERS' FUNDS

397,409

270,640

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement and an abridged Balance Sheet for the year ended 31st October 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 director and authorised for issue on 25th July 2023 and were signed by:

R Barez - Director

1.	STATUTORY INFORMATION

Persias Dental 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 as the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

o the amount of revenue can be measured reliably;

o it is probable that the Company will receive the consideration due under the contract;

o the stage of completion of the contract at the end of the reporting period can be measured reliably; and

o the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of fifteen 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.

Plant and machinery

-

25% on reducing balance

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

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 8 (2021 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st November 2021

and 31st October 2022

468,000

AMORTISATION

At 1st November 2021

436,800

Amortisation for year

31,200

At 31st October 2022

468,000

NET BOOK VALUE

At 31st October 2022

-

At 31st October 2021

31,200

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st November 2021

353,014

Additions

45,209

At 31st October 2022

398,223

DEPRECIATION

At 1st November 2021

221,312

Charge for year

37,706

At 31st October 2022

259,018

NET BOOK VALUE

At 31st October 2022

139,205

At 31st October 2021

131,702

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2022

2021

£

£

Repayable by instalments

Hire purchase

(3,862

)

5,979

7.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

36,465

46,071

The Bank Loan is secured by way of a charge on the short leasehold premises.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

1

100

100

9.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Roham Barez.