Registered number
10821955
GJM Implant Services Limited
Filleted Accounts
30 June 2024
GJM Implant Services Limited
Registered number: 10821955
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,772 5,541
Tangible assets 4 216,621 236,400
219,393 241,941
Current assets
Debtors 5 26,250 26,250
Cash at bank and in hand 170,231 182,686
196,481 208,936
Creditors: amounts falling due within one year 6 (170,224) (179,686)
Net current assets 26,257 29,250
Total assets less current liabilities 245,650 271,191
Creditors: amounts falling due after more than one year 7 (92,734) (153,042)
Provisions for liabilities (54,849) (45,969)
Net assets 98,067 72,180
Capital and reserves
Called up share capital 100 -
Share premium - 100
Profit and loss account 97,967 72,080
Shareholders' funds 98,067 72,180
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Gary Moynes
Director
Approved by the board on 4 December 2024
GJM Implant Services Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Intangible software over 5 years
Improvements to leasehold property 10% on a reducing balance basis
Plant & machinery 10% on a reducing balance basis
Equipment, fixtures & fittings 10% on a reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 13,848
At 30 June 2024 13,848
Amortisation
At 1 July 2023 8,307
Provided during the year 2,769
At 30 June 2024 11,076
Net book value
At 30 June 2024 2,772
At 30 June 2023 5,541
Intangible fixed assets are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 160,671 151,583 38,955 351,209
Additions - - 4,291 4,291
At 30 June 2024 160,671 151,583 43,246 355,500
Depreciation
At 1 July 2023 32,145 45,475 37,189 114,809
Charge for the year 12,853 10,611 606 24,070
At 30 June 2024 44,998 56,086 37,795 138,879
Net book value
At 30 June 2024 115,673 95,497 5,451 216,621
At 30 June 2023 128,526 106,108 1,766 236,400
[For revalued assets, state the years in which the assets were valued and their values. For assets revalued during the reporting period, state the names of the persons who revalued them or particulars of their qualifications for doing so and the bases of valuation used by them.] During the year, depreciation policy was changed to being 10% on a reducing balance basis.
5 Debtors 2024 2023
£ £
Prepayments 8,750 8,750
Other debtors 17,500 17,500
26,250 26,250
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 37,983 37,983
Obligations under finance lease and hire purchase contracts 22,308 22,308
Trade creditors 21,791 25,938
Taxation and social security costs 75,786 53,541
Other creditors 12,356 39,916
170,224 179,686
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 70,709 71,476
Obligations under finance lease and hire purchase contracts 22,025 81,566
92,734 153,042
8 Other information
GJM Implant Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
7oaks Clinic 55 High Street
Sevenoaks
Kent
England
TN13 1JF
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