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REGISTERED NUMBER: 08250153 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Regency Dental Practice (Cheltenham) Ltd

Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Regency Dental Practice (Cheltenham) Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Dr C D Barley
Dr A G Barley



REGISTERED OFFICE: 41 Sydenham Villas Road
Cheltenham
GL52 6EE



REGISTERED NUMBER: 08250153 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Lloyds Bank
130 High Street
Cheltenham
GL50 1EW

Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,308 80,618
Tangible assets 5 202,333 144,632
242,641 225,250

CURRENT ASSETS
Stocks 5,175 4,500
Debtors 6 179,123 263,758
Cash at bank and in hand 138,348 99,782
322,646 368,040
CREDITORS
Amounts falling due within one year 7 132,352 146,825
NET CURRENT ASSETS 190,294 221,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

432,935

446,465

CREDITORS
Amounts falling due after more than one
year

8

(380,963

)

(407,688

)

PROVISIONS FOR LIABILITIES (50,583 ) (35,622 )
NET ASSETS 1,389 3,155

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,289 3,055
SHAREHOLDERS' FUNDS 1,389 3,155

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

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

The directors acknowledge their 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.

Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

Statement of Financial Position - continued
31 December 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 Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:





Dr C D Barley - Director


Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

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


1. STATUTORY INFORMATION

Regency Dental Practice (Cheltenham) Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill being the amount paid in connection with the acquisition of the business in 2013 and 2015 is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - in accordance with the property
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

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.

Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 January 2024
and 31 December 2024 795,607
Amortisation
At 1 January 2024 714,989
Charge for year 40,310
At 31 December 2024 755,299
Net book value
At 31 December 2024 40,308
At 31 December 2023 80,618

Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
Cost
At 1 January 2024 4,763 240,711 33,946 279,420
Additions - 91,552 19,952 111,504
Disposals (4,763 ) (2,653 ) (829 ) (8,245 )
At 31 December 2024 - 329,610 53,069 382,679
Depreciation
At 1 January 2024 2,619 120,178 11,991 134,788
Charge for year 238 42,417 8,381 51,036
Eliminated on disposal (2,857 ) (2,107 ) (514 ) (5,478 )
At 31 December 2024 - 160,488 19,858 180,346
Net book value
At 31 December 2024 - 169,122 33,211 202,333
At 31 December 2023 2,144 120,533 21,955 144,632

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and
fittings
£   
Cost
At 1 January 2024 58,621
Additions 59,016
Transfer to ownership (22,930 )
At 31 December 2024 94,707
Depreciation
At 1 January 2024 27,789
Charge for year 16,467
Transfer to ownership (15,416 )
At 31 December 2024 28,840
Net book value
At 31 December 2024 65,867
At 31 December 2023 30,832

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 2,868 2,563
Other debtors 176,255 261,195
179,123 263,758

Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 58,126 55,680
Hire purchase contracts (see note 9) 20,584 8,667
Trade creditors 6,214 12,128
Taxation and social security 29,607 54,935
Other creditors 17,821 15,415
132,352 146,825

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Bank loans 334,097 392,222
Hire purchase contracts (see note 9) 46,866 15,466
380,963 407,688

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 111,025 170,048
Hire purchase 9,176 -
120,201 170,048

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/12/24 31/12/23
£    £   
Net obligations repayable:
Within one year 20,584 8,667
Between one and five years 37,690 15,466
In more than five years 9,176 -
67,450 24,133

Non-cancellable operating leases
31/12/24 31/12/23
£    £   
Within one year 45,800 -
Between one and five years 183,200 -
In more than five years 198,467 -
427,467 -

Regency Dental Practice (Cheltenham) Ltd (Registered number: 08250153)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

31/12/24 31/12/23
£    £   
Bank loans 378,055 423,735

The bank loans are secured by fixed and floating charges over the leasehold property and assets of the company.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24 31/12/23
£    £   
Dr C D Barley
Balance outstanding at start of year 190,455 179,843
Amounts advanced 122,942 126,553
Amounts repaid (217,800 ) (115,941 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 95,597 190,455

The above loan to the director has no fixed repayment terms. Interest totalling £3,218 (2023 - £4,045) has been charged during the year at the HMRC official rate of interest.

12. RELATED PARTY DISCLOSURES

CASO Property Ltd
A company controlled by the directors

The company leases a property from CASO Property Ltd. During the year rent of £42,247 (2023 - £nil) was charged.