Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Mr M I Dandolov 05/05/2022 Dr R P Miteva 07/06/2010 27 November 2024 The principal activity of the Company during the financial year was that of a dental practice. SC379836 2024-06-30 SC379836 bus:Director1 2024-06-30 SC379836 bus:Director2 2024-06-30 SC379836 2023-06-30 SC379836 core:CurrentFinancialInstruments 2024-06-30 SC379836 core:CurrentFinancialInstruments 2023-06-30 SC379836 core:Non-currentFinancialInstruments 2024-06-30 SC379836 core:Non-currentFinancialInstruments 2023-06-30 SC379836 core:ShareCapital 2024-06-30 SC379836 core:ShareCapital 2023-06-30 SC379836 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC379836 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC379836 core:LandBuildings 2023-06-30 SC379836 core:PlantMachinery 2023-06-30 SC379836 core:FurnitureFittings 2023-06-30 SC379836 core:ComputerEquipment 2023-06-30 SC379836 core:LandBuildings 2024-06-30 SC379836 core:PlantMachinery 2024-06-30 SC379836 core:FurnitureFittings 2024-06-30 SC379836 core:ComputerEquipment 2024-06-30 SC379836 bus:OrdinaryShareClass1 2024-06-30 SC379836 bus:OrdinaryShareClass2 2024-06-30 SC379836 2023-07-01 2024-06-30 SC379836 bus:FilletedAccounts 2023-07-01 2024-06-30 SC379836 bus:SmallEntities 2023-07-01 2024-06-30 SC379836 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC379836 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC379836 bus:Director1 2023-07-01 2024-06-30 SC379836 bus:Director2 2023-07-01 2024-06-30 SC379836 core:LandBuildings 2023-07-01 2024-06-30 SC379836 core:PlantMachinery 2023-07-01 2024-06-30 SC379836 core:FurnitureFittings 2023-07-01 2024-06-30 SC379836 core:ComputerEquipment 2023-07-01 2024-06-30 SC379836 2022-07-01 2023-06-30 SC379836 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 SC379836 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC379836 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 SC379836 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 SC379836 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC379836 (Scotland)

R MITEVA & ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

R MITEVA & ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

R MITEVA & ASSOCIATES LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
R MITEVA & ASSOCIATES LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 200,499 210,722
200,499 210,722
Current assets
Stocks 1,500 1,715
Debtors 4 59,556 53,584
Cash at bank and in hand 363,126 281,355
424,182 336,654
Creditors: amounts falling due within one year 5 ( 103,712) ( 83,177)
Net current assets 320,470 253,477
Total assets less current liabilities 520,969 464,199
Creditors: amounts falling due after more than one year 6 0 ( 8,513)
Provision for liabilities ( 9,449) ( 12,040)
Net assets 511,520 443,646
Capital and reserves
Called-up share capital 7 20 20
Profit and loss account 511,500 443,626
Total shareholders' funds 511,520 443,646

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of R Miteva & Associates Limited (registered number: SC379836) were approved and authorised for issue by the Board of Directors on 27 November 2024. They were signed on its behalf by:

Mr M I Dandolov
Director
Dr R P Miteva
Director
R MITEVA & ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
R MITEVA & ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R Miteva & Associates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 1 Charlotte Street, Kirkcaldy, KY1 1RN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 2 % reducing balance
Plant and machinery 15 % reducing balance
Fixtures and fittings 20 % reducing balance
Computer equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 9

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 220,080 136,991 27,843 10,366 395,280
Additions 0 2,110 0 1,558 3,668
At 30 June 2024 220,080 139,101 27,843 11,924 398,948
Accumulated depreciation
At 01 July 2023 73,391 77,545 25,595 8,027 184,558
Charge for the financial year 2,934 9,805 450 702 13,891
At 30 June 2024 76,325 87,350 26,045 8,729 198,449
Net book value
At 30 June 2024 143,755 51,751 1,798 3,195 200,499
At 30 June 2023 146,689 59,446 2,248 2,339 210,722

4. Debtors

2024 2023
£ £
Trade debtors 57,663 51,826
Other debtors 1,893 1,758
59,556 53,584

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,059 4,747
Taxation and social security 59,717 44,730
Obligations under finance leases and hire purchase contracts 8,512 9,286
Other creditors 30,424 24,414
103,712 83,177

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 8,513

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary A shares of £ 1.00 each 10 10
10 Ordinary B shares of £ 1.00 each 10 10
20 20

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by/(to) key management personnel 638 (1,042)