2023-04-012024-03-312024-03-31false06283038MULLALLY DENTAL PRACTICE 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MULLALLY DENTAL PRACTICE LIMITED

Registered Number
06283038
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MULLALLY DENTAL PRACTICE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

BEHESHTI, Shahryar, Dr

Company Secretary

RAHMANIAN, Nina

Registered Address

178 Langton Way
Blackheath
London
SE3 7JR

Registered Number

06283038 (England and Wales)
MULLALLY DENTAL PRACTICE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets340,50054,000
Tangible assets592,242131,323
132,742185,323
Current assets
Debtors110,09986,121
Cash at bank and on hand428,634379,925
538,733466,046
Creditors amounts falling due within one year6(45,707)(50,641)
Net current assets (liabilities)493,026415,405
Total assets less current liabilities625,768600,728
Net assets625,768600,728
Capital and reserves
Called up share capital100100
Profit and loss account625,668600,628
Shareholders' funds625,768600,728
The financial statements were approved and authorised for issue by the Director on 22 August 2024, and are signed on its behalf by:
BEHESHTI, Shahryar, Dr
Director
Registered Company No. 06283038
MULLALLY DENTAL PRACTICE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned for dental services and counter sales.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Revenue from rendering of services
Revenue 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. Revenue is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Acquired goodwill is written off on a straight-line basis over its estimated useful economic life of 20 years.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be 20 years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year96
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23270,000270,000
At 31 March 24270,000270,000
Amortisation and impairment
At 01 April 23216,000216,000
Charge for year13,50013,500
At 31 March 24229,500229,500
Net book value
At 31 March 2440,50040,500
At 31 March 2354,00054,000
4.Useful life of intangible assets
Acquired goodwill is written off on a straight-line basis over its estimated useful economic life of 20 years.
5.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 2379,537193,51612,271285,324
Additions6658,102-8,767
At 31 March 2480,202201,61812,271294,091
Depreciation and impairment
At 01 April 2323,806121,0849,111154,001
Charge for year26,34120,1001,40747,848
At 31 March 2450,147141,18410,518201,849
Net book value
At 31 March 2430,05560,4341,75392,242
At 31 March 2355,73172,4323,160131,323
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables4,808647
Taxation and social security40,23449,720
Other creditors663274
Accrued liabilities and deferred income2-
Total45,70750,641
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.
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
BEHESHTI, Shahryar, Dr24,000024,0000
24,000024,0000
At the balance sheet date, there was an amount of £nil owed from (2023: £24,000) Shahryar Beheshti, the director of the company. The amount was unsecured and repayable on demand.
8.Related party transactions
At the balance sheet date, there was an amount of £77,151 owed from (2023: £17,007) B&K Practice Limited, the parent company. During the year, dividends of £36,120 (2023: £36,120) were paid to B&K Practice Limited, the parent company.