1 April 2023 false No description of principal activity Taxfiler 2024.5 NI651820business:PrivateLimitedCompanyLtd2023-04-012024-03-31 NI6518202023-03-31 NI6518202023-04-012024-03-31 NI651820business:AuditExemptWithAccountantsReport2023-04-012024-03-31 NI651820business:FilletedAccounts2023-04-012024-03-31 NI6518202024-03-31 NI651820business:Director12023-04-012024-03-31 NI651820business:RegisteredOffice2023-04-012024-03-31 NI6518202023-03-31 NI651820core:WithinOneYear2024-03-31 NI651820core:WithinOneYear2023-03-31 NI651820core:AfterOneYear2024-03-31 NI651820core:AfterOneYear2023-03-31 NI651820core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 NI651820core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 NI651820core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 NI651820core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 NI651820core:PreviouslyStatedAmount2024-03-31 NI651820core:PreviouslyStatedAmount2023-03-31 NI651820business:SmallEntities2023-04-012024-03-31 NI651820countries:NorthernIreland2023-04-012024-03-31 NI651820core:LandBuildings2023-04-012024-03-31 NI651820core:PlantMachinery2023-04-012024-03-31 NI651820core:FurnitureFittings2023-04-012024-03-31 NI651820core:ComputerEquipment2023-04-012024-03-31 NI651820core:Goodwill2023-03-31 NI651820core:Goodwill2024-03-31 NI651820core:Goodwill2023-04-012024-03-31 NI651820core:LandBuildings2023-03-31 NI651820core:PlantMachinery2023-03-31 NI651820core:FurnitureFittings2023-03-31 NI651820core:ComputerEquipment2023-03-31 NI651820core:LandBuildings2024-03-31 NI651820core:PlantMachinery2024-03-31 NI651820core:FurnitureFittings2024-03-31 NI651820core:ComputerEquipment2024-03-31 NI651820core:AfterOneYear2023-04-012024-03-31 NI651820business:OrdinaryShareClass12023-04-012024-03-31 NI651820business:OrdinaryShareClass12022-04-012023-03-31 NI651820core:BetweenOneFiveYears2024-03-31 NI651820core:BetweenOneFiveYears2023-03-31 NI6518202022-04-012023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. NI651820 (Northern Ireland)
Maghera Dental Ltd Unaudited accounts for the year ended 31 March 2024
Maghera Dental Ltd Unaudited accounts Contents
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Maghera Dental Ltd Company Information for the year ended 31 March 2024
Director
Jan Hamilton
Company Number
NI651820 (Northern Ireland)
Registered Office
27 Church Street Maghera BT46 5EA Northern Ireland
Accountants
Westerly Accountancy Ltd 24 Orchard Road Wrafton Braunton EX33 2DZ
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Maghera Dental Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
170,000 
210,000 
Tangible assets
118,586 
125,540 
288,586 
335,540 
Current assets
Inventories
23,000 
24,437 
Debtors
40,782 
17,166 
Cash at bank and in hand
34,571 
105,320 
98,353 
146,923 
Creditors: amounts falling due within one year
(96,737)
(85,335)
Net current assets
1,616 
61,588 
Total assets less current liabilities
290,202 
397,128 
Creditors: amounts falling due after more than one year
(232,451)
(296,133)
Net assets
57,751 
100,995 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
57,651 
100,895 
Shareholders' funds
57,751 
100,995 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 September 2024 and were signed on its behalf by
Jan Hamilton Director Company Registration No. NI651820
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Maghera Dental Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Maghera Dental Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI651820. The registered office is 27 Church Street, Maghera, BT46 5EA, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Improvements Straight line 10 years
Plant & machinery
Straight line 5-10 years
Fixtures & fittings
Straight line 10 years
Computer equipment
Straight line 4 years
Intangible fixed assets
Goodwill represents the difference between the amount paid for the purchase of a business and its assets and the fair value of the identifiable assets and liabilities at the date of purchase. Subsequent to initial recognition, intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Purchased goodwill is amortised over its estimated useful life, considered to be 10 years.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Maghera Dental Ltd Notes to the Accounts for the year ended 31 March 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
400,000 
At 31 March 2024
400,000 
Amortisation
At 1 April 2023
190,000 
Charge for the year
40,000 
At 31 March 2024
230,000 
Net book value
At 31 March 2024
170,000 
At 31 March 2023
210,000 
Goodwill arising on the purchase of the Maghera Dental Practice on 2nd July 2018 is being amortised evenly over the director's estimate of its useful life of 10 years.
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
40,041 
139,577 
- 
18,017 
197,635 
Additions
- 
8,000 
2,223 
2,694 
12,917 
At 31 March 2024
40,041 
147,577 
2,223 
20,711 
210,552 
Depreciation
At 1 April 2023
5,962 
58,153 
- 
7,980 
72,095 
Charge for the year
4,004 
12,774 
- 
3,093 
19,871 
At 31 March 2024
9,966 
70,927 
- 
11,073 
91,966 
Net book value
At 31 March 2024
30,075 
76,650 
2,223 
9,638 
118,586 
At 31 March 2023
34,079 
81,424 
- 
10,037 
125,540 
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Maghera Dental Ltd Notes to the Accounts for the year ended 31 March 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
566 
223 
Accrued income and prepayments
40,216 
16,943 
40,782 
17,166 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
26,500 
24,407 
Obligations under finance leases and hire purchase contracts
8,518 
8,518 
Trade creditors
8,898 
10,376 
Taxes and social security
15,384 
19,871 
Other creditors
924 
- 
Loans from directors
1,620 
1,620 
Accruals
34,893 
20,543 
96,737 
85,335 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
225,083 
280,248 
Obligations under finance leases and hire purchase contracts
7,368 
15,885 
232,451 
296,133 
Bank loans are repayable by June 2033 and interest is charged at 2.75% above Bank of England base rate.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
20,102 
20,634 
Later than one year and not later than five years
48,688 
75,172 
68,790 
95,806 
11
Average number of employees
During the year the average number of employees was 14 (2023: 14).
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