Osmaston Road Dental Care Ltd - Accounts to registrar (filleted) - small 17.3

OSMASTON ROAD DENTAL CARE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Cholerton

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

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Intangible assets

4

76,661

93,089

Tangible assets

5

22,486

22,832

99,147

115,921

CURRENT ASSETS

Stocks

4,500

4,500

Debtors

6

17,435

26,645

Cash at bank and in hand

6,683

11,005

28,618

42,150

CREDITORS

Amounts falling due within one year

7

110,053

110,404

NET CURRENT LIABILITIES

(81,435

)

(68,254

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,712

47,667

CREDITORS

Amounts falling due after more than one year

8

105,617

129,793

NET LIABILITIES

(87,905

)

(82,126

)

CAPITAL AND RESERVES

Called up share capital

11

10

10

Retained earnings

(87,915

)

(82,136

)

SHAREHOLDERS' FUNDS

(87,905

)

(82,126

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 7 March 2018 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 Not specified/Other. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2016

and 31 August 2017

164,274

AMORTISATION

At 1 September 2016

71,185

Amortisation for year

16,428

At 31 August 2017

87,613

NET BOOK VALUE

At 31 August 2017

76,661

At 31 August 2016

93,089

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 September 2016

1

57,187

3,439

5,276

65,903

Additions

5,744

-

-

-

5,744

At 31 August 2017

5,745

57,187

3,439

5,276

71,647

DEPRECIATION

At 1 September 2016

-

38,816

1,575

2,680

43,071

Charge for year

382

4,593

466

649

6,090

At 31 August 2017

382

43,409

2,041

3,329

49,161

NET BOOK VALUE

At 31 August 2017

5,363

13,778

1,398

1,947

22,486

At 31 August 2016

1

18,371

1,864

2,596

22,832

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

8,435

8,435

Other debtors

9,000

18,210

17,435

26,645

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

31,135

27,385

Trade creditors

4,442

7,193

Amounts owed to group undertakings

54,908

58,643

Taxation and social security

1,034

3,892

Other creditors

18,534

13,291

110,053

110,404

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

74,933

86,609

Other creditors

30,684

43,184

105,617

129,793

9.	LEASING AGREEMENTS

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

2017

2016

£

£

Within one year

10,884

10,884

Between one and five years

32,652

43,536

43,536

54,420

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Lloyds Bank

85,487

10,135

Lloyds Bank

8,081

12,608

93,568

22,743

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

2017

2016

value:

£

£

10

Ordinary share

£1

10

10

12.	RELATED PARTY DISCLOSURES

Expressions Dental Care Ltd

The ultimate parent company

During the year the company paid management charges to Expressions Dental Care Ltd amounting to £8,000.

2017

2016

£

£

Amount due to related party at the balance sheet date

54,908

58,643

13.	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.