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REGISTERED NUMBER: SC372251 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Academy Practice Limited

Academy Practice Limited (Registered number: SC372251)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Academy Practice Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr Cameron Black





SECRETARY: Mrs Margaret Rose Black





REGISTERED OFFICE: 29 Academy Street
Coatbridge
Lanarkshire
ML5 3AW





REGISTERED NUMBER: SC372251 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Academy Practice Limited (Registered number: SC372251)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 120,000 140,000
Tangible assets 5 72,027 55,952
192,027 195,952

CURRENT ASSETS
Stock 2,200 1,950
Debtors 6 22,642 12,317
Cash at bank 42,268 29,690
67,110 43,957
CREDITORS
Amounts falling due within one year 7 113,788 71,168
NET CURRENT LIABILITIES (46,678 ) (27,211 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

145,349

168,741

CREDITORS
Amounts falling due after more than one
year

8

(26,367

)

(15,188

)

PROVISIONS FOR LIABILITIES 9 (13,685 ) (10,630 )
NET ASSETS 105,297 142,923

Academy Practice Limited (Registered number: SC372251)

Balance Sheet - continued
30 April 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 105,197 142,823
SHAREHOLDERS' FUNDS 105,297 142,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 August 2024 and were signed by:





Mr Cameron Black - Director


Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Academy Practice Limited is a private company, limited by shares , registered in Scotland. 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 net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2010, is being amortised evenly over its estimated useful life of twenty 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.
Dental equipment - 20% on reducing balance
Fittings and equipment - 20% on reducing balance
Motor vehicles - 20% on cost

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 400,000
AMORTISATION
At 1 May 2023 260,000
Amortisation for year 20,000
At 30 April 2024 280,000
NET BOOK VALUE
At 30 April 2024 120,000
At 30 April 2023 140,000

5. TANGIBLE FIXED ASSETS
Fittings
Dental and Motor Computer
equipment equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 19,602 41,452 49,500 5,285 115,839
Additions - 39,030 - - 39,030
At 30 April 2024 19,602 80,482 49,500 5,285 154,869
DEPRECIATION
At 1 May 2023 16,337 22,423 19,800 1,327 59,887
Charge for year 652 11,612 9,900 791 22,955
At 30 April 2024 16,989 34,035 29,700 2,118 82,842
NET BOOK VALUE
At 30 April 2024 2,613 46,447 19,800 3,167 72,027
At 30 April 2023 3,265 19,029 29,700 3,958 55,952

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,642 12,317

Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,500 -
Hire purchase contracts 5,700 5,700
Taxation and social security 56,784 46,752
Other creditors 43,804 18,716
113,788 71,168

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 16,875 -
Hire purchase contracts 9,492 15,188
26,367 15,188

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 13,685 10,630

Deferred
tax
£   
Balance at 1 May 2023 10,630
Provided during year 3,055
Balance at 30 April 2024 13,685

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Cameron Black.

The ultimate controlling party is Mr. & Mrs. Cameron Black.