Iriston House Dental Practice Limited - Period Ending 2015-03-31

Registration number: SC373003

Iriston House Dental Practice Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Glen Drummond Limited
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Iriston House Dental Practice Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Iriston House Dental Practice Limited
(Registration number: SC373003)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					300,000			330,000
Tangible fixed assets					3,511			1,884
					303,511			331,884
Current assets
Stocks					650			700
Debtors					36,984			40,063
Cash at bank and in hand					185,173			145,924
					222,807			186,687
Creditors: Amounts falling due within one year					(96,595)			(174,927)
Net current assets					126,212			11,760
Net assets					429,723			343,644
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					429,623			343,544
Shareholders' funds					429,723			343,644

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 22 December 2015

.........................................
R Chandrachud
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Iriston House Dental Practice Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of services to customers.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	6.67% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line
Computer equipment	25% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Iriston House Dental Practice Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		450,000			4,082			454,082
Additions		-			3,909			3,909
Disposals		-			(1,299)			(1,299)
At 31 March 2015		450,000			6,692			456,692
Depreciation
At 1 April 2014		120,000			2,198			122,198
Charge for the year		30,000			1,478			31,478
Eliminated on disposals		-			(495)			(495)
At 31 March 2015		150,000			3,181			153,181
Net book value
At 31 March 2015		300,000			3,511			303,511
At 31 March 2014		330,000			1,884			331,884

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3