Woodley Dental Practice Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06067511 (England and Wales)

Woodley Dental Practice Limited

Unaudited Financial Statements for the Year Ended 31 January 2023

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

G Theodorou

R Theodorou

SECRETARY:

G Theodorou

REGISTERED OFFICE:

155 Crockhamwell Road

Woodley

Berkshire

RG5 3JP

REGISTERED NUMBER:

06067511 (England and Wales)

ACCOUNTANTS:

Tearle & Carver Limited

Chandos House

School Lane

Buckingham

Buckinghamshire

MK18 1HD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Woodley Dental Practice Limited for the year ended 31 January 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Woodley Dental Practice Limited, as a body, in accordance with the terms of our engagement letter dated 28 October 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Woodley Dental Practice Limited and state those matters that we have agreed to state to the Board of Directors of Woodley Dental Practice Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woodley Dental Practice Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Woodley Dental Practice Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Woodley Dental Practice Limited. You consider that Woodley Dental Practice Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Woodley Dental Practice Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Tearle & Carver Limited

Chandos House

School Lane

Buckingham

Buckinghamshire

MK18 1HD

Date: .............................................

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

549,014

571,638

549,014

571,638

CURRENT ASSETS

Stocks

4,000

169,269

Debtors

6

121,805

8,000

Cash at bank

15,181

86,394

140,986

263,663

CREDITORS

Amounts falling due within one year

7

154,238

108,785

NET CURRENT (LIABILITIES)/ASSETS

(13,252

)

154,878

TOTAL ASSETS LESS CURRENT LIABILITIES

535,762

726,516

CREDITORS

Amounts falling due after more than one year

8

409,239

519,992

NET ASSETS

126,523

206,524

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

126,423

206,424

SHAREHOLDERS' FUNDS

126,523

206,524

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:

G Theodorou - Director

1.	STATUTORY INFORMATION

Woodley Dental Practice 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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2022

and 31 January 2023

250,000

AMORTISATION

At 1 February 2022

and 31 January 2023

250,000

NET BOOK VALUE

At 31 January 2023

-

At 31 January 2022

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2022

211,200

741,972

64,000

12,783

1,029,955

Additions

-

19,416

-

-

19,416

At 31 January 2023

211,200

761,388

64,000

12,783

1,049,371

DEPRECIATION

At 1 February 2022

8,004

428,223

14,507

7,583

458,317

Charge for year

4,224

33,317

1,649

2,850

42,040

At 31 January 2023

12,228

461,540

16,156

10,433

500,357

NET BOOK VALUE

At 31 January 2023

198,972

299,848

47,844

2,350

549,014

At 31 January 2022

203,196

313,749

49,493

5,200

571,638

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

121,805

8,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts

74,811

64,216

Trade creditors

5,090

7,346

Taxation and social security

44,140

28,111

Other creditors

30,197

9,112

154,238

108,785

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

185,969

220,203

Hire purchase contracts

223,270

299,789

409,239

519,992