Company registration number SC668220 (Scotland)
BRIDGE OF ALLAN DENTAL CARE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
BRIDGE OF ALLAN DENTAL CARE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BRIDGE OF ALLAN DENTAL CARE LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
4
440,000
495,000
Tangible assets
5
126,390
47,966
566,390
542,966
Current assets
Stocks
5,100
9,250
Debtors
6
173,239
8,271
Cash at bank and in hand
83,573
84,726
261,912
102,247
Creditors: amounts falling due within one year
7
(586,120)
(551,496)
Net current liabilities
(324,208)
(449,249)
Total assets less current liabilities
242,182
93,717
Creditors: amounts falling due after more than one year
8
(73,914)
Net assets
168,268
93,717
Capital and reserves
Called up share capital
9
1,640
1,640
Profit and loss reserves
166,628
92,077
Total equity
168,268
93,717
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BRIDGE OF ALLAN DENTAL CARE LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2022
30 September 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 16 June 2023
Mr J C A Arnot
Director
Company Registration No. SC668220
BRIDGE OF ALLAN DENTAL CARE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 3 -
1
Accounting policies
Company information
Bridge of Allan Dental Care Ltd is a private company limited by shares incorporated in Scotland. The registered office is 1 Union Street, Bridge of Allan, Stirling, Stirlingshire, United Kingdom, FK9 4NS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover consists of the sales value in the period for the supply of services and goods to third parties.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Assets not yet brought into use are not depreciated.
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BRIDGE OF ALLAN DENTAL CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
8
8
BRIDGE OF ALLAN DENTAL CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 5 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2021 and 30 September 2022
550,000
Amortisation and impairment
At 1 October 2021
55,000
Amortisation charged for the year
55,000
At 30 September 2022
110,000
Carrying amount
At 30 September 2022
440,000
At 30 September 2021
495,000
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Total
£
£
£
Cost
At 1 October 2021
63,955
63,955
Additions
89,983
494
90,477
At 30 September 2022
89,983
64,449
154,432
Depreciation and impairment
At 1 October 2021
15,989
15,989
Depreciation charged in the year
12,053
12,053
At 30 September 2022
28,042
28,042
Carrying amount
At 30 September 2022
89,983
36,407
126,390
At 30 September 2021
47,966
47,966
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
15,027
6,429
Other debtors
155,311
Prepayments and accrued income
2,901
1,842
173,239
8,271
BRIDGE OF ALLAN DENTAL CARE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 6 -
7
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
2,159
Other borrowings
5,197
Corporation tax
32,575
39,001
Other taxation and social security
2,382
(877)
Other creditors
481,430
478,579
Accruals and deferred income
62,377
34,793
586,120
551,496
8
Creditors: amounts falling due after more than one year
2022
2021
Notes
£
£
Bank loans and overdrafts
42,611
Other borrowings
31,303
73,914
9
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
1,000
1,000
1,000
1,000
Ordinary B shares of £1 each
330
330
330
330
Ordinary C shares of £1 each
165
165
165
165
Ordinary D shares of £1 each
145
145
145
145
1,640
1,640
1,640
1,640
10
Securities
The bank loan is secured by way of a floating charge over the property and undertakings of the company.
11
Related party transactions
At the balance sheet date the company owed Mr J Arnot £481,430 (2021 - £478,579). The loan is unsecured, interest free and repayable on demand.