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REGISTERED NUMBER: SC682449 (Scotland)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Bank Street Dental Ltd

Bank Street Dental Ltd (Registered number: SC682449)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Bank Street Dental Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Dr G D Canning





REGISTERED OFFICE: 19 Bank Street
Galashiels
Borders
TD1 1EN





REGISTERED NUMBER: SC682449 (Scotland)





ACCOUNTANTS: Dental Accountants Scotland Ltd
Specialist Dental Accountants & Advisors
Cornerstone House
Station Road
Selkirk
Borders
TD7 5DJ

Bank Street Dental Ltd (Registered number: SC682449)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 87,040 92,160
Tangible assets 5 128,862 141,770
215,902 233,930

CURRENT ASSETS
Stocks 6,185 5,891
Debtors 6 50,425 57,374
Cash at bank and in hand 582,388 430,795
638,998 494,060
CREDITORS
Amounts falling due within one year 7 212,221 260,147
NET CURRENT ASSETS 426,777 233,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

642,679

467,843

CREDITORS
Amounts falling due after more than one
year

8

(31,718

)

(37,033

)

PROVISIONS FOR LIABILITIES (32,215 ) (32,621 )
NET ASSETS 578,746 398,189

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 578,646 398,089
SHAREHOLDERS' FUNDS 578,746 398,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Bank Street Dental Ltd (Registered number: SC682449)

Statement of Financial Position - continued
30 November 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 February 2024 and were signed by:





Dr G D Canning - Director


Bank Street Dental Ltd (Registered number: SC682449)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Bank Street Dental Ltd 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.

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 in 2020, is being amortised evenly over its estimated useful life of twenty 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Bank Street Dental Ltd (Registered number: SC682449)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 15 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 102,400
AMORTISATION
At 1 December 2022 10,240
Charge for year 5,120
At 30 November 2023 15,360
NET BOOK VALUE
At 30 November 2023 87,040
At 30 November 2022 92,160

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 110,924 12,558 55,681 540 179,703
Additions 7,932 15,239 54,035 - 77,206
Disposals - - (55,681 ) - (55,681 )
At 30 November 2023 118,856 27,797 54,035 540 201,228
DEPRECIATION
At 1 December 2022 32,161 4,418 1,160 194 37,933
Charge for year 17,339 4,676 13,509 69 35,593
Eliminated on disposal - - (1,160 ) - (1,160 )
At 30 November 2023 49,500 9,094 13,509 263 72,366
NET BOOK VALUE
At 30 November 2023 69,356 18,703 40,526 277 128,862
At 30 November 2022 78,763 8,140 54,521 346 141,770

Bank Street Dental Ltd (Registered number: SC682449)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 50,425 50,374
Other debtors - 7,000
50,425 57,374

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 3,790 4,057
Trade creditors 4,716 18,232
Tax 81,150 70,709
Social security and other taxes 2,335 914
Pension payable 695 1,160
Other creditors 113,667 151,557
Directors' current accounts 1,701 8,832
Accrued expenses 4,167 4,686
212,221 260,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 31,718 37,033

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company was due the director £1,701 (2022 - £8,832). No interest has been charged and there are no specific repayment terms.