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REGISTERED NUMBER: 08957469 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

T Bellingan Limited

T Bellingan Limited (Registered number: 08957469)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountant's Report 8

T Bellingan Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Dr T P Bellingan





REGISTERED OFFICE: 4 Charter Way
Liskeard
Cornwall
PL14 3XB





REGISTERED NUMBER: 08957469 (England and Wales)





ACCOUNTANT: Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT

T Bellingan Limited (Registered number: 08957469)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 38,774 41,839
38,774 41,839

CURRENT ASSETS
Stocks 350 350
Debtors 6 44,826 76,017
Cash at bank and in hand 136,692 140,754
181,868 217,121
CREDITORS
Amounts falling due within one year 7 213,354 253,499
NET CURRENT LIABILITIES (31,486 ) (36,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,288

5,461

PROVISIONS FOR LIABILITIES 5,636 4,672
NET ASSETS 1,652 789

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,552 689
SHAREHOLDERS' FUNDS 1,652 789

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

T Bellingan Limited (Registered number: 08957469)

Statement of Financial Position - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 November 2024 and were signed by:





Dr T P Bellingan - Director


T Bellingan Limited (Registered number: 08957469)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

T Bellingan Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of dentistry goods or services supplied. NHS income is recognised based on levels of dental activity delivered. Where there is under delivery against target activity levels then a potential clawback arises and a creditor is established. Private treatment is recognised based on the stage of completion. Services are exempt from Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of nine years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the term of the lease
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


T Bellingan Limited (Registered number: 08957469)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 1,100,000
AMORTISATION
At 1 November 2023
and 31 October 2024 1,100,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

T Bellingan Limited (Registered number: 08957469)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 November 2023 5,389 17,032 159,562
Additions - - 3,152
At 31 October 2024 5,389 17,032 162,714
DEPRECIATION
At 1 November 2023 897 10,039 132,048
Charge for year 359 1,703 6,132
At 31 October 2024 1,256 11,742 138,180
NET BOOK VALUE
At 31 October 2024 4,133 5,290 24,534
At 31 October 2023 4,492 6,993 27,514

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2023 10,228 12,673 204,884
Additions - 4,235 7,387
At 31 October 2024 10,228 16,908 212,271
DEPRECIATION
At 1 November 2023 7,898 12,163 163,045
Charge for year 466 1,792 10,452
At 31 October 2024 8,364 13,955 173,497
NET BOOK VALUE
At 31 October 2024 1,864 2,953 38,774
At 31 October 2023 2,330 510 41,839

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts - 66,827
Prepayments and accrued income 40,943 -
Prepayments 3,883 9,190
44,826 76,017

T Bellingan Limited (Registered number: 08957469)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 39,190 42,936
Trade creditors 17,177 22,259
Tax 20,000 13,612
Social security and other taxes 3,846 2,760
Other creditors 71,322 164,752
Directors' current accounts 724 -
Accrued expenses 61,095 7,180
213,354 253,499

8. CONTINGENT LIABILITIES

The Director wishes to highlight a potential contingent liability obligation arising from past events but whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events.

The NHS contract requires the performance of a target level of Units of Dental Activity (UDA's). Where there is an annual shortfall against the contracted target, then the practice may need to return funds to the NHS in recognition of that underperformance. This is referred to as a clawback.

At the accounting date, the reported UDA's are short of target, which at current estimates could be valued at around £38,048.

The actual underperformance will only be accurately measured and assessed after 31 March 2025, when the NHS start to undertake an annual reconciliation against contracted targets. The outcome of that reconciliation will not be known until at least July 2025. Any clawback funds will be deducted from future NHS scheduled payments beginning September 2025.

The practice still has time to make up lost ground between now and 31 March 2025, to mitigate the extent of the underperformance and any clawback. At this time, the amount of any obligation cannot be measured with sufficiently reliability given the timescales involved.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 October 2024 and the period ended 31 October 2023:

2024 2023
£    £   
Dr T P Bellingan
Balance outstanding at start of year 66,827 -
Amounts advanced - 66,827
Amounts repaid (66,827 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 66,827

The main conditions regarding advances and credits were that sums were to be repaid to the company as soon as possible and any overdrawn balance would incur interest at the official rate of interest. The official rate of interest during the period was 2.25% throughout the period. The assessment of interest is based on the averaged balance over the course of a tax year.

Chartered Certified Accountant's Report to the Director
on the Unaudited Financial Statements of
T Bellingan Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of T Bellingan Limited for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of T Bellingan Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of T Bellingan Limited and state those matters that I have agreed to state to the director of T Bellingan Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that T Bellingan Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of T Bellingan Limited. You consider that T Bellingan Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of T Bellingan Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT


7 November 2024