Bathgate Dental Practice Ltd. - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC369602 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Bathgate Dental Practice Ltd.

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

150,000

200,000

Tangible assets

5

111,901

139,580

261,901

339,580

CURRENT ASSETS

Stocks

6

22,175

22,560

Debtors

7

78,352

76,884

Cash at bank and in hand

421,123

234,881

521,650

334,325

CREDITORS

Amounts falling due within one year

8

(137,959

)

(104,823

)

NET CURRENT ASSETS

383,691

229,502

TOTAL ASSETS LESS CURRENT LIABILITIES

645,592

569,082

PROVISIONS FOR LIABILITIES

(1,800

)

(6,526

)

ACCRUALS AND DEFERRED INCOME

(20,350

)

(43,993

)

NET ASSETS

623,442

518,563

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

623,440

518,561

SHAREHOLDERS' FUNDS

623,442

518,563

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 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 Board of Directors on 28 September 2017 and were signed on its behalf by:

Mr G Shields - Director

Mrs E Shields - Director

1.	STATUTORY INFORMATION

Bathgate Dental Practice Ltd is a private company, limited by shares, domiciled in Scotland, registration number

SC369602. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Stirlingshire,

FK3 8WX.

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

Turnover represents net invoiced sales of goods and services in respect of dentistry, excluding value added tax.

Sales are recognised at the point at which the service is complete.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten 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 and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost and 20% on cost

Fixtures and fittings

-

20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any

incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all

tangible fixed assets are depreciated to nil value.

Stocks

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

moving items. Cost is represented by purchase price.

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is

probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably

estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time

value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is

determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of

an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2015 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

500,000

AMORTISATION

At 1 January 2016

300,000

Amortisation for year

50,000

At 31 December 2016

350,000

NET BOOK VALUE

At 31 December 2016

150,000

At 31 December 2015

200,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2016

and 31 December 2016

96,582

168,687

43,898

309,167

DEPRECIATION

At 1 January 2016

-

133,587

36,000

169,587

Charge for year

-

21,903

5,776

27,679

At 31 December 2016

-

155,490

41,776

197,266

NET BOOK VALUE

At 31 December 2016

96,582

13,197

2,122

111,901

At 31 December 2015

96,582

35,100

7,898

139,580

6.

STOCKS

31.12.16

31.12.15

£

£

Stocks

22,175

22,560

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

78,352

76,884

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

10,253

16,343

Tax

67,072

53,878

Social security and other taxes

188

184

Associate creditor

13,322

13,895

Directors' current accounts

1,025

-

Accruals and deferred income

46,099

20,523

137,959

104,823