The Old Bakery Dental Practice Limited - Accounts to registrar - small 17.2

The Old Bakery Dental Practice Limited - Accounts to registrar - small 17.2


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REGISTERED NUMBER: 07268481 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2017

for

THE OLD BAKERY DENTAL PRACTICE LIMITED

THE OLD BAKERY DENTAL PRACTICE LIMITED (REGISTERED NUMBER: 07268481)






Contents of the Financial Statements
for the year ended 31 March 2017




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


THE OLD BAKERY DENTAL PRACTICE LIMITED

Company Information
for the year ended 31 March 2017







DIRECTOR: Dr G McAleer





SECRETARY: Mrs L McAleer





REGISTERED OFFICE: 10a Chaloners Hill
Steeple Claydon
Buckinghamshire
MK18 2PE





REGISTERED NUMBER: 07268481 (England and Wales)





ACCOUNTANTS: Hive Accountancy Ltd
The Innovation Centre
Treliske
Truro
Cornwall
TR1 3FF

THE OLD BAKERY DENTAL PRACTICE LIMITED (REGISTERED NUMBER: 07268481)

Balance Sheet
31 March 2017

2017 2016
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 235,875 263,625
Tangible assets 5 31,327 38,184
267,202 301,809

CURRENT ASSETS
Stocks 4,441 4,441
Debtors 6 6,260 5,520
Cash at bank and in hand 62,797 40,973
73,498 50,934
CREDITORS
Amounts falling due within one year 7 69,285 81,385
NET CURRENT ASSETS/(LIABILITIES) 4,213 (30,451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

271,415

271,358

CREDITORS
Amounts falling due after more than one
year

8

-

(1,400

)

PROVISIONS FOR LIABILITIES (3,917 ) (5,537 )
NET ASSETS 267,498 264,421

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 267,348 264,271
SHAREHOLDERS' FUNDS 267,498 264,421

THE OLD BAKERY DENTAL PRACTICE LIMITED (REGISTERED NUMBER: 07268481)

Balance Sheet - continued
31 March 2017


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 June 2017 and were signed by:





Dr G McAleer - Director


THE OLD BAKERY DENTAL PRACTICE LIMITED (REGISTERED NUMBER: 07268481)

Notes to the Financial Statements
for the year ended 31 March 2017

1. STATUTORY INFORMATION

The Old Bakery Dental Practice Limited is a private company, limited by shares , registered in England
and Wales. The company's registered number and registered office address can be found on the
Company Information page.

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.

Turnover
Fee income represents amounts receivable for dental services supplied.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

The goodwill broadly reflects the patient list acquired on 22 June 2010 which is considered to suffer
5% attrition each year.

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.
Fixtures & fittings - 25% on reducing balance

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

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.

THE OLD BAKERY DENTAL PRACTICE LIMITED (REGISTERED NUMBER: 07268481)

Notes to the Financial Statements - continued
for the year ended 31 March 2017

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets
and depreciated over the shorter of the lease term and their useful lives. Obligations under such
agreements are included in creditors net of the finance charge allocated to future periods. The finance
element of the rental payment is charged to the profit and loss account so as to produce constant
periodic rates of charge on the net obligations outstanding in each period.

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 7 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2016
and 31 March 2017 555,000
AMORTISATION
At 1 April 2016 291,375
Amortisation for year 27,750
At 31 March 2017 319,125
NET BOOK VALUE
At 31 March 2017 235,875
At 31 March 2016 263,625

5. TANGIBLE FIXED ASSETS
Fixtures
& fittings
£   
COST
At 1 April 2016 138,925
Additions 3,586
At 31 March 2017 142,511
DEPRECIATION
At 1 April 2016 100,741
Charge for year 10,443
At 31 March 2017 111,184
NET BOOK VALUE
At 31 March 2017 31,327
At 31 March 2016 38,184

THE OLD BAKERY DENTAL PRACTICE LIMITED (REGISTERED NUMBER: 07268481)

Notes to the Financial Statements - continued
for the year ended 31 March 2017

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
& fittings
£   
COST
At 1 April 2016
and 31 March 2017 4,200
DEPRECIATION
At 1 April 2016 1,050
Charge for year 788
At 31 March 2017 1,838
NET BOOK VALUE
At 31 March 2017 2,362
At 31 March 2016 3,150

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
as
restated
£    £   
Trade debtors 378 1,711
Other debtors 5,214 3,141
Prepayments 668 668
6,260 5,520

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
as
restated
£    £   
Hire purchase contracts 1,400 1,400
Trade creditors 8,992 2,227
Corp. tax payable 2,639 11,187
PAYE 10,105 1,999
Pension 321 189
Director's current account 30,293 36,941
Accrued expenses - 20,380
Payments in advance 15,535 7,062
69,285 81,385

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
as
restated
£    £   
Hire purchase contracts - 1,400

THE OLD BAKERY DENTAL PRACTICE LIMITED (REGISTERED NUMBER: 07268481)

Notes to the Financial Statements - continued
for the year ended 31 March 2017

9. RELATED PARTY DISCLOSURES

Dr G McAleer
Director and shareholder.

During the year various sundry repayments under £500 were made to Dr G McAleer totalling £6,647.

At the balance sheet date, the following amounts were owed to the director. These are included within
Creditors: amounts falling due within one year:

2017 2016
£ £
Amount due to related party at the balance sheet date 30,294 36,941

10. CONTROLLING PARTY

The controlling party is Dr G McAleer.

By virtue of his majority shareholding.

11. GOING CONCERN

Within the next 12 months the company will possibly be subject to a group restructuring; a further
possibility is that the trade and assets will be transferred to a fellow group company for commercial
reasons. If this occurs it is expected that the transfer will take place at market value and accordingly all
balance sheet items are expected to realise their carrying value.