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
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
OLIVE DENTAL PRACTICE LIMITED
Statement of financial position
as at 31 March 2024
Intangible assets
37,329
55,996
Tangible assets
28,551
1,727
Cash at bank and in hand
75,705
90,112
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
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
OLIVE DENTAL PRACTICE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
Charge for the year
18,667
OLIVE DENTAL PRACTICE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Other debtors
18,722
14,423
Amounts falling due after more than one year
Trade debtors
55,315
55,315
Other debtors
77,513
109,313
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
8
Creditors: amounts falling due after more than one year
2024
2023
Bounce Back Loan obtained during the year
OLIVE DENTAL PRACTICE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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).