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Company Registration No. 06854067 (England and Wales)
OLIVE DENTAL PRACTICE LIMITED FINANCIAL STATEMENTS for the year ended 31 March 2024
OLIVE DENTAL PRACTICE LIMITED FINANCIAL STATEMENTS Contents
Page
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OLIVE DENTAL PRACTICE LIMITED Company Information for the year ended 31 March 2024
Directors
DR OLAYINKA AWOLESI DR IFANIYI OSHIGA DR OLUBUSOLA LEGUNSEN
Secretary
DR OLAYINKA AWOLESI
Company Number
06854067 (England and Wales)
Registered Office
9 HOOK CLOSE BEESTON NOTTINGHAM NG9 5AT ENGLAND
Accountants
CRYSTAL FINANCE SERVICES LIMITED 9 HOOK CLOSE BEESTON NOTTINGHAM NG9 5AT
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OLIVE DENTAL PRACTICE LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
37,329 
55,996 
Tangible assets
28,551 
1,727 
65,880 
57,723 
Current assets
Debtors
159,571 
187,148 
Cash at bank and in hand
75,705 
90,112 
235,276 
277,260 
Creditors: amounts falling due within one year
(14,587)
(25,671)
Net current assets
220,689 
251,589 
Total assets less current liabilities
286,569 
309,312 
Creditors: amounts falling due after more than one year
(36,599)
(41,426)
Net assets
249,970 
267,886 
Capital and reserves
Called up share capital
4 
4 
Share premium
199,998 
199,998 
Profit and loss account
49,968 
67,884 
Shareholders' funds
249,970 
267,886 
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 directors acknowledge their 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 of Directors and authorised for issue on 5 June 2024 and were signed on its behalf by
DR OLUBUSOLA LEGUNSEN Director Company Registration No. 06854067
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OLIVE DENTAL PRACTICE LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
OLIVE DENTAL PRACTICE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06854067. The registered office is 9 HOOK CLOSE, BEESTON, NOTTINGHAM, NG9 5AT, ENGLAND.
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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Plant & machinery
20% on reducing balance
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
280,000 
At 31 March 2024
280,000 
Amortisation
At 1 April 2023
224,004 
Charge for the year
18,667 
At 31 March 2024
242,671 
Net book value
At 31 March 2024
37,329 
At 31 March 2023
55,996 
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OLIVE DENTAL PRACTICE LIMITED Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2023
72,653 
Additions
31,006 
At 31 March 2024
103,659 
Depreciation
At 1 April 2023
70,926 
Charge for the year
4,182 
At 31 March 2024
75,108 
Net book value
At 31 March 2024
28,551 
At 31 March 2023
1,727 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,021 
8,097 
Other debtors
18,722 
14,423 
26,743 
22,520 
Amounts falling due after more than one year
Trade debtors
55,315 
55,315 
Other debtors
77,513 
109,313 
132,828 
164,628 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
3,959 
19,306 
Taxes and social security
6,437 
2,173 
Loans from directors
4,191 
4,192 
14,587 
25,671 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
36,599 
41,426 
Bounce Back Loan obtained during the year
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OLIVE DENTAL PRACTICE LIMITED Notes to the Accounts for the year ended 31 March 2024
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
S419 Loan
48,018 
- 
22,800 
25,218 
S419 Recoverable tax paid
21,341 
- 
- 
21,341 
S419 Loan
25,215 
- 
7,800 
17,415 
S419 Loan
12,739 
15,800 
15,000 
13,539 
107,313 
15,800 
45,600 
77,513 
These are brought forward Advances and Credits on which interest at 5% (2023-5.00%) have been charged. Those rates are above or at par with the official rates of the HMRC. They have been shown as Other Debtors falling due more than one Year
10
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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