2022-12-012023-11-302023-11-30falseNI672818OBO Dental Practice 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OBO Dental Practice Limited

Registered Number
NI672818
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 November 2023

OBO Dental Practice Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Gardiner, Christopher
Gardiner, Jemma

Company Secretary

Gardiner, Jemma

Registered Address

1a Lockview Road
Stranmillis
Belfast
BT9 5FH

Registered Number

NI672818 (Northern Ireland)
OBO Dental Practice Limited
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3209,111238,209
Tangible assets4504,102286,972
713,213525,181
Current assets
Stocks510,25010,250
Debtors1,5102,265
Cash at bank and on hand55,271133,653
67,031146,168
Creditors amounts falling due within one year6(366,198)(253,618)
Net current assets (liabilities)(299,167)(107,450)
Total assets less current liabilities414,046417,731
Creditors amounts falling due after one year7(197,580)(227,553)
Net assets216,466190,178
Capital and reserves
Called up share capital100100
Profit and loss account216,366190,078
Shareholders' funds216,466190,178
The financial statements were approved and authorised for issue by the Board of Directors on 26 June 2024, and are signed on its behalf by:
Gardiner, Christopher
Director
Registered Company No. NI672818
OBO Dental Practice Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation (10% Straight line).
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year55
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 22290,978290,978
At 30 November 23290,978290,978
Amortisation and impairment
At 01 December 2252,76952,769
Charge for year29,09829,098
At 30 November 2381,86781,867
Net book value
At 30 November 23209,111209,111
At 30 November 22238,209238,209
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 December 22270,82821,0143,3448,869304,055
Additions93,873153,0211,0172,207250,118
At 30 November 23364,701174,0354,36111,076554,173
Depreciation and impairment
At 01 December 225,4177,6061,2822,77817,083
Charge for year5,58324,7537591,89332,988
At 30 November 2311,00032,3592,0414,67150,071
Net book value
At 30 November 23353,701141,6762,3206,405504,102
At 30 November 22265,41113,4082,0626,091286,972
5.Stocks

2023

2022

££
Finished goods10,25010,250
Total10,25010,250
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables152,456-
Bank borrowings and overdrafts41,94653,920
Amounts owed to related parties166,690159,552
Taxation and social security2,24637,602
Other creditors163-
Accrued liabilities and deferred income2,6972,544
Total366,198253,618
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts197,580227,553
Total197,580227,553