P C Dental Surgery Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC482440 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2023

for

P C Dental Surgery Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Barry Simpson

Mrs Gillian Woods

REGISTERED OFFICE:

8a Roman Road

Bearsden

Glasgow

G61 2SW

REGISTERED NUMBER:

SC482440 (Scotland)

ACCOUNTANTS:

Stevenson & Kyles

Chartered Accountants

25 Sandyford Place

Glasgow

G3 7NG

FIXED ASSETS

Intangible assets

4

38,779

77,560

Tangible assets

5

311,131

295,789

349,910

373,349

CURRENT ASSETS

Stock

3,825

2,700

Debtors

6

17,408

21,926

Cash at bank

212,125

156,955

233,358

181,581

CREDITORS

Amounts falling due within one year

7

126,938

131,531

NET CURRENT ASSETS

106,420

50,050

TOTAL ASSETS LESS CURRENT LIABILITIES

456,330

423,399

CREDITORS

Amounts falling due after more than one year

8

(241,608

)

(269,457

)

PROVISIONS FOR LIABILITIES

10

(12,144

)

(9,228

)

NET ASSETS

202,578

144,714

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

202,478

144,614

SHAREHOLDERS' FUNDS

202,578

144,714

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:

Mr Barry Simpson - Director

1.	STATUTORY INFORMATION

P C Dental Surgery Limited is a private company, limited by shares , registered in Scotland. 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.

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 on 31 October 2014, is being amortised evenly over its estimated useful life of 10 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fittings and equipment

-

15% on reducing balance

Computer equipment

-

33.33% on cost

Stocks

Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Grant income

Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2022

and 31 October 2023

387,808

AMORTISATION

At 1 November 2022

310,248

Amortisation for year

38,781

At 31 October 2023

349,029

NET BOOK VALUE

At 31 October 2023

38,779

At 31 October 2022

77,560

5.	TANGIBLE FIXED ASSETS

Fittings

Heritable

and

Computer

property

equipment

equipment

Totals

£

£

£

£

COST

At 1 November 2022

246,514

111,399

7,288

365,201

Additions

-

19,200

10,118

29,318

At 31 October 2023

246,514

130,599

17,406

394,519

DEPRECIATION

At 1 November 2022

-

62,639

6,773

69,412

Charge for year

-

10,089

3,887

13,976

At 31 October 2023

-

72,728

10,660

83,388

NET BOOK VALUE

At 31 October 2023

246,514

57,871

6,746

311,131

At 31 October 2022

246,514

48,760

515

295,789

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fittings

and

equipment

£

COST

At 1 November 2022

and 31 October 2023

6,505

DEPRECIATION

At 1 November 2022

and 31 October 2023

3,109

NET BOOK VALUE

At 31 October 2023

3,396

At 31 October 2022

3,396

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

17,408

21,926

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

25,118

25,118

Hire purchase contracts

-

33

Taxation and social security

56,705

49,079

Other creditors

45,115

57,301

126,938

131,531

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

241,608

269,457

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

130,826

158,675

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

266,726

294,575

10.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

12,144

9,228

Deferred

tax

£

Balance at 1 November 2022

9,228

Provided during year

2,916

Balance at 31 October 2023

12,144

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

1

100

100

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr Barry Simpson and Mrs Gillian Woods.