Osmaston Road Dental Care Ltd - Accounts to registrar (filleted) - small 18.2

OSMASTON ROAD DENTAL CARE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr J A Gregory

Mrs S D Taylor

SECRETARY:

Mrs S D Taylor

REGISTERED OFFICE:

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

REGISTERED NUMBER:

07657514 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Intangible assets

4

60,234

76,661

Tangible assets

5

19,996

22,486

80,230

99,147

CURRENT ASSETS

Stocks

4,500

4,500

Debtors

6

41,218

17,435

Cash at bank and in hand

4,550

6,683

50,268

28,618

CREDITORS

Amounts falling due within one year

7

101,994

110,053

NET CURRENT LIABILITIES

(51,726

)

(81,435

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,504

17,712

CREDITORS

Amounts falling due after more than one year

8

81,898

105,617

NET LIABILITIES

(53,394

)

(87,905

)

CAPITAL AND RESERVES

Called up share capital

11

10

10

Retained earnings

(53,404

)

(87,915

)

SHAREHOLDERS' FUNDS

(53,394

)

(87,905

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 29 March 2019 and were signed on its behalf by:

Mrs S D Taylor - Director

1.	STATUTORY INFORMATION

Osmaston Road Dental Care Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company meets its day to day working capital requirements through the support of the directors, who

have indicated that they are willing to support the company for the foreseeable future. On this basis, the

directors consider it appropriate to prepare the financial statements on the going concern basis. The financial

statements do not include any adjustments that would result from a withdrawal of the support by the

directors.

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 2012, 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.

Improvements to property

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 5 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

and 31 August 2018

164,274

AMORTISATION

At 1 September 2017

87,613

Amortisation for year

16,427

At 31 August 2018

104,040

NET BOOK VALUE

At 31 August 2018

60,234

At 31 August 2017

76,661

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 September 2017

5,745

57,187

3,439

5,276

71,647

Additions

-

2,462

-

-

2,462

At 31 August 2018

5,745

59,649

3,439

5,276

74,109

DEPRECIATION

At 1 September 2017

382

43,409

2,041

3,329

49,161

Charge for year

574

3,542

349

487

4,952

At 31 August 2018

956

46,951

2,390

3,816

54,113

NET BOOK VALUE

At 31 August 2018

4,789

12,698

1,049

1,460

19,996

At 31 August 2017

5,363

13,778

1,398

1,947

22,486

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

36,435

8,435

Other debtors

4,783

9,000

41,218

17,435

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

31,486

31,135

Trade creditors

1,412

4,442

Amounts owed to group undertakings

50,554

54,908

Taxation and social security

11,197

1,034

Other creditors

7,345

18,534

101,994

110,053

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

58,364

74,933

Other creditors

23,534

30,684

81,898

105,617

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

10,844

10,884

Between one and five years

21,688

32,652

32,532

43,536

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Lloyds Bank

70,730

85,487

Lloyds Bank

3,552

8,081

74,282

93,568

The loans are secured on a fixed charge over the leasehold surgery at 54 Osmaston Road, Derby and a floating

charge over the undertakings of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

10

Ordinary share

£1

10

10

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Expressions Dental Care Ltd.

The company's ultimate parent company is Expressions Dental Care Ltd, a company registered in England and

Wales.