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REGISTERED NUMBER: SC574384 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Envisage Dentistry (Tweedsmuir) Ltd

Envisage Dentistry (Tweedsmuir) Ltd (Registered number: SC574384)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Envisage Dentistry (Tweedsmuir) Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: P Gupta
B O Murphy
L McIntosh





REGISTERED OFFICE: Ground Floor, West Wing
Custom House
Custom House Quay
Greenock
PA15 1AL





REGISTERED NUMBER: SC574384 (Scotland)





ACCOUNTANTS: Henderson & Company
73 Union Street
Greenock
Renfrewshire
PA16 8BG

Envisage Dentistry (Tweedsmuir) Ltd (Registered number: SC574384)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 346,360 415,632
Tangible assets 5 24,100 19,386
370,460 435,018

CURRENT ASSETS
Debtors 6 62,524 100,728
Cash at bank and in hand 77,213 5,365
139,737 106,093
CREDITORS
Amounts falling due within one year 7 394,403 459,958
NET CURRENT LIABILITIES (254,666 ) (353,865 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,794

81,153

PROVISIONS FOR LIABILITIES 6,025 3,683
NET ASSETS 109,769 77,470

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 109,767 77,468
109,769 77,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

Envisage Dentistry (Tweedsmuir) Ltd (Registered number: SC574384)

Balance Sheet - continued
31 August 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 Board of Directors and authorised for issue on 26 August 2024 and were signed on its behalf by:




B O Murphy - Director



P Gupta - Director


Envisage Dentistry (Tweedsmuir) Ltd (Registered number: SC574384)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Envisage Dentistry (Tweedsmuir) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2018, is being amortised evenly over its estimated useful life of ten years.

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 etc - 25% on cost

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.

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.

Envisage Dentistry (Tweedsmuir) Ltd (Registered number: SC574384)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 692,720
AMORTISATION
At 1 September 2022 277,088
Charge for year 69,272
At 31 August 2023 346,360
NET BOOK VALUE
At 31 August 2023 346,360
At 31 August 2022 415,632

Envisage Dentistry (Tweedsmuir) Ltd (Registered number: SC574384)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 43,105
Additions 12,983
At 31 August 2023 56,088
DEPRECIATION
At 1 September 2022 23,719
Charge for year 8,269
At 31 August 2023 31,988
NET BOOK VALUE
At 31 August 2023 24,100
At 31 August 2022 19,386

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 22,230 43,423
Other debtors 40,294 57,305
62,524 100,728

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 300,000
Trade creditors 35,780 33,837
Amounts owed to group undertakings 126,045 54,169
Taxation and social security 47,750 46,273
Other creditors 184,828 25,679
394,403 459,958

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 300,000

All loan funds are secured by a Floating Charge over the whole of the property of the Company.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31st August 2023, the company owed the directors the sum of £175,959. (2022: £20).

Envisage Dentistry (Tweedsmuir) Ltd (Registered number: SC574384)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Envisage Dentistry Group Limited. Mr Gupta and Mr Murphy, directors, each have a 50% shareholding in Envisage Dentistry Group Limited.