Registered number
NI604412
Duke Street Dental Surgery Limited
Report and Accounts
30 November 2023
Duke Street Dental Surgery Limited
Registered number: NI604412
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 12,321 9,139
Current assets
Stocks 20,150 20,150
Debtors 5 - 3,630
Cash at bank and in hand 127,698 138,650
147,848 162,430
Creditors: amounts falling due within one year 6 (36,031) (34,424)
Net current assets 111,817 128,006
Net assets 124,138 137,145
Capital and reserves
Called up share capital 2 2
Ord dividend - Final (2,000) (4,000)
Profit and loss account 126,136 141,143
Shareholders' funds 124,138 137,145
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Linden
Director
Approved by the board on 31 July 2024
Duke Street Dental Surgery Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 120,000
At 30 November 2023 120,000
Amortisation
At 1 December 2022 120,000
At 30 November 2023 120,000
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
Cost
At 1 December 2022 107,776
Additions 5,308
At 30 November 2023 113,084
Depreciation
At 1 December 2022 98,637
Charge for the year 2,126
At 30 November 2023 100,763
Net book value
At 30 November 2023 12,321
At 30 November 2022 9,139
5 Debtors 2023 2022
£ £
Other debtors - 3,630
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,655 1,548
Trade creditors 8,343 5,792
Corporation tax - 9,517
Other taxes and social security costs 3,068 -
Other creditors 22,965 17,567
36,031 34,424
7 Other information
Duke Street Dental Surgery Limited is a private company limited by shares and incorporated in N.Ireland. Its registered office is:
3 Duke Street
Warrenpoint
Newry
Down
BT34 3JY
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