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Registered number: 08130273
Holly Dental Practice Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
129 Woodplumpton Road
Fulwood
Preston
Lancashire
PR2 3LF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08130273
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 499 -
Tangible Assets 5 541,840 489,534
542,339 489,534
CURRENT ASSETS
Stocks 6 52,577 30,131
Debtors 7 10,140 6,907
Cash at bank and in hand 188,461 352,880
251,178 389,918
Creditors: Amounts Falling Due Within One Year 8 (157,291 ) (126,653 )
NET CURRENT ASSETS (LIABILITIES) 93,887 263,265
TOTAL ASSETS LESS CURRENT LIABILITIES 636,226 752,799
Creditors: Amounts Falling Due After More Than One Year 9 (344,177 ) (385,045 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (50,992 ) (28,573 )
NET ASSETS 241,057 339,181
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 240,957 339,081
SHAREHOLDERS' FUNDS 241,057 339,181
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr A J Holly
Director
31 May 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Holly Dental Practice Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08130273 . The registered office is 129 Woodplumpton Road Fulwood, Preston, Lancashire, PR2 3LF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible are amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% on cost
Plant & Machinery 20% on written down value
Motor Vehicles 25% on written down value
Fixtures & Fittings 20% on written down value
Computer Equipment 25% on written down value and 33.3% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2022: 8)
11 8
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 -
Additions 499
As at 31 December 2023 499
Net Book Value
As at 31 December 2023 499
As at 1 January 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2023 369,152 140,331 32,319 78,734
Additions - 46,243 - 56,572
As at 31 December 2023 369,152 186,574 32,319 135,306
Depreciation
As at 1 January 2023 30,000 79,250 8,080 19,283
Provided during the period 10,000 18,223 6,060 17,852
As at 31 December 2023 40,000 97,473 14,140 37,135
...CONTINUED
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Page 5
Net Book Value
As at 31 December 2023 329,152 89,101 18,179 98,171
As at 1 January 2023 339,152 61,081 24,239 59,451
Computer Equipment Total
£ £
Cost
As at 1 January 2023 18,199 638,735
Additions 5,574 108,389
As at 31 December 2023 23,773 747,124
Depreciation
As at 1 January 2023 12,588 149,201
Provided during the period 3,948 56,083
As at 31 December 2023 16,536 205,284
Net Book Value
As at 31 December 2023 7,237 541,840
As at 1 January 2023 5,611 489,534
6. Stocks
2023 2022
£ £
Stock 52,577 30,131
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,883 634
Other debtors 8,257 6,273
10,140 6,907
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 26,152 17,650
Trade creditors 72,050 46,576
Bank loans and overdrafts 36,345 34,615
Other creditors 21,077 16,271
Taxation and social security 1,667 11,541
157,291 126,653
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 72,221 68,422
Bank loans 271,956 316,623
344,177 385,045
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 26,152 17,650
Later than one year and not later than five years 72,221 68,422
98,373 86,072
98,373 86,072
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Dr Andrew Holly 364 (143,192 ) 142,060 - (768 )
The above loan is unsecured, interest free and repayable on demand.
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