DRM Dental Practices Limited Filleted accounts for Companies House (small and micro)
DRM Dental Practices Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
SC402431
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For the year ended |
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Abridged Financial Statements |
Year ended 30 June 2020
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
3 |
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Abridged Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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--------- |
--------- |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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-------- |
-------- |
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Creditors: amounts falling due within one year |
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--------- |
--------- |
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Net current liabilities |
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--------- |
--------- |
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Total assets less current liabilities |
(
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(
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Creditors: amounts falling due after more than one year |
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--------- |
--------- |
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Net liabilities |
(
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(
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--------- |
--------- |
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Abridged Statement of Financial Position (continued) |
2020 |
2019 |
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Note |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
(
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(
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--------- |
--------- |
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Shareholders deficit |
(
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(
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--------- |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
30 June 2021
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
SC402431
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Notes to the Abridged Financial Statements |
Year ended 30 June 2020
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 15 Redhall House Avenue, Edinburgh, EH14 1JJ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Revenue recognition
Goodwill
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings |
- |
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Plant and equipment |
- |
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Fixtures and fittings |
- |
3-15% Reducing balance |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Finance leases and hire purchase contracts
Government grants
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution pension plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2019:
5
).
5.
Intangible assets
£ |
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Cost |
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At 1 July 2019 and 30 June 2020 |
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--------- |
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Amortisation |
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At 1 July 2019 |
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Charge for the year |
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--------- |
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At 30 June 2020 |
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--------- |
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Carrying amount |
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At 30 June 2020 |
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--------- |
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At 30 June 2019 |
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--------- |
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Goodwill arose on the acquisition of the business in July 2011.
6.
Tangible assets
£ |
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Cost |
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At 1 July 2019 |
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Additions |
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Disposals |
(
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--------- |
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At 30 June 2020 |
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--------- |
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Depreciation |
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At 1 July 2019 |
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Charge for the year |
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Disposals |
(
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--------- |
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At 30 June 2020 |
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--------- |
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Carrying amount |
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At 30 June 2020 |
296,606 |
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At 30 June 2019 |
310,511 |
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7.
Charges on assets
Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £217,409 (2018 - £240,874).
8.
Directors' advances, credits and guarantees
The director's loan accounts were not in debit at any time during the year.