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

REGISTERED NUMBER: 14114965 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 18TH MAY 2022 TO 31ST MAY 2023

FOR

MARCHWOOD DENTAL PRACTICE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A W Thomas

A J Kolaczkowski

SECRETARY:

REGISTERED OFFICE:

Marchwood Dental Practice

The Old Forge

Hythe Road

Marchwood

Southampton

SO40 4WU

REGISTERED NUMBER:

14114965 (England and Wales)

ACCOUNTANTS:

Harrison Black Limited

East Quay

Kite Hill

Wootton Bridge

Isle of Wight

PO33 4LA

FIXED ASSETS

Intangible assets

4

396,327

Tangible assets

5

63,716

460,043

CURRENT ASSETS

Stocks

3,337

Debtors

6

11,027

Cash at bank and in hand

138,778

153,142

CREDITORS

Amounts falling due within one year

7

218,483

NET CURRENT LIABILITIES

(65,341

)

TOTAL ASSETS LESS CURRENT LIABILITIES

394,702

CREDITORS

Amounts falling due after more than one year

8

351,789

NET ASSETS

42,913

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

42,813

42,913

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st May 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 9th February 2024 and were signed on its behalf by:

A W Thomas - Director

A J Kolaczkowski - Director

1.	STATUTORY INFORMATION

Marchwood 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 2023, is being amortised evenly over its estimated useful life of ten 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.

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 period 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 period 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.

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 period was 12 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

440,363

At 31st May 2023

440,363

AMORTISATION

Charge for period

44,036

At 31st May 2023

44,036

NET BOOK VALUE

At 31st May 2023

396,327

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

79,646

At 31st May 2023

79,646

DEPRECIATION

Charge for period

15,930

At 31st May 2023

15,930

NET BOOK VALUE

At 31st May 2023

63,716

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

11,027

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

45,774

Trade creditors

32,018

Taxation and social security

20,505

Other creditors

120,186

218,483

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

351,789

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

167,805

9.	RELATED PARTY DISCLOSURES

The rent costs paid by the Company for use of the practice are paid to both of the directors who own the property personally.

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 Marchwood Dental Practice Limited for the period ended 31st May 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 Marchwood Dental Practice Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marchwood Dental Practice Limited and state those matters that we have agreed to state to the Board of Directors of Marchwood 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 Marchwood 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 Marchwood 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 Marchwood Dental Practice Limited. You consider that Marchwood Dental Practice Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Marchwood 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.

Harrison Black Limited

East Quay

Kite Hill

Wootton Bridge

Isle of Wight

PO33 4LA

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