Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Dr James McManus 05/09/2014 Dr Lee-Anne Scott 05/09/2014 28 April 2025 The principal activity of the Company during the financial year continued to be that of a dental practice. SC486012 2024-07-31 SC486012 bus:Director1 2024-07-31 SC486012 bus:Director2 2024-07-31 SC486012 2023-07-31 SC486012 core:CurrentFinancialInstruments 2024-07-31 SC486012 core:CurrentFinancialInstruments 2023-07-31 SC486012 core:Non-currentFinancialInstruments 2024-07-31 SC486012 core:Non-currentFinancialInstruments 2023-07-31 SC486012 core:ShareCapital 2024-07-31 SC486012 core:ShareCapital 2023-07-31 SC486012 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC486012 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC486012 core:Goodwill 2023-07-31 SC486012 core:Goodwill 2024-07-31 SC486012 core:PlantMachinery 2023-07-31 SC486012 core:Vehicles 2023-07-31 SC486012 core:ComputerEquipment 2023-07-31 SC486012 core:PlantMachinery 2024-07-31 SC486012 core:Vehicles 2024-07-31 SC486012 core:ComputerEquipment 2024-07-31 SC486012 2023-08-01 2024-07-31 SC486012 bus:FilletedAccounts 2023-08-01 2024-07-31 SC486012 bus:SmallEntities 2023-08-01 2024-07-31 SC486012 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC486012 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC486012 bus:Director1 2023-08-01 2024-07-31 SC486012 bus:Director2 2023-08-01 2024-07-31 SC486012 core:Goodwill core:TopRangeValue 2023-08-01 2024-07-31 SC486012 core:Goodwill 2023-08-01 2024-07-31 SC486012 core:PlantMachinery 2023-08-01 2024-07-31 SC486012 core:Vehicles 2023-08-01 2024-07-31 SC486012 core:ComputerEquipment 2023-08-01 2024-07-31 SC486012 2022-08-01 2023-07-31 SC486012 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Company No: SC486012 (Scotland)

MCMANUS & SCOTT HOLYTOWN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH THE REGISTRAR

MCMANUS & SCOTT HOLYTOWN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024

Contents

MCMANUS & SCOTT HOLYTOWN LIMITED

BALANCE SHEET

AS AT 31 JULY 2024
MCMANUS & SCOTT HOLYTOWN LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 4 12,150 16,200
Tangible assets 5 113,388 26,243
125,538 42,443
Current assets
Stocks 6 4,240 4,500
Debtors 7 68,909 43,440
Cash at bank and in hand 8 208,144 145,948
281,293 193,888
Creditors: amounts falling due within one year 9 ( 149,834) ( 99,993)
Net current assets 131,459 93,895
Total assets less current liabilities 256,997 136,338
Creditors: amounts falling due after more than one year 10 ( 84,668) ( 28,333)
Provision for liabilities ( 25,715) 0
Net assets 146,614 108,005
Capital and reserves
Called-up share capital 100 100
Profit and loss account 146,514 107,905
Total shareholders' funds 146,614 108,005

For the financial year ending 31 July 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 McManus & Scott Holytown Limited (registered number: SC486012) were approved and authorised for issue by the Board of Directors on 28 April 2025. They were signed on its behalf by:

Dr James McManus
Director
Dr Lee-Anne Scott
Director
MCMANUS & SCOTT HOLYTOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
MCMANUS & SCOTT HOLYTOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 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

McManus & Scott Holytown 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 Mcmanus And Scott Dental Surgeries 5 Main Street, Holytown, Motherwell, ML1 4TA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for dental work and services provided in the normal course of business.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

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:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 25 % 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
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.

Stocks

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

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

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 August 2023 40,500 40,500
At 31 July 2024 40,500 40,500
Accumulated amortisation
At 01 August 2023 24,300 24,300
Charge for the financial year 4,050 4,050
At 31 July 2024 28,350 28,350
Net book value
At 31 July 2024 12,150 12,150
At 31 July 2023 16,200 16,200

5. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 August 2023 297,972 0 0 297,972
Additions 15,948 89,160 2,498 107,606
At 31 July 2024 313,920 89,160 2,498 405,578
Accumulated depreciation
At 01 August 2023 271,729 0 0 271,729
Charge for the financial year 10,548 9,288 625 20,461
At 31 July 2024 282,277 9,288 625 292,190
Net book value
At 31 July 2024 31,643 79,872 1,873 113,388
At 31 July 2023 26,243 0 0 26,243

6. Stocks

2024 2023
£ £
Stocks 4,240 4,500

7. Debtors

2024 2023
£ £
Trade debtors 67,145 42,382
Other debtors 1,764 1,058
68,909 43,440

8. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 208,144 145,948

9. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 0
Amounts owed to directors 2,068 18
Accruals 39,870 20,916
Taxation and social security 76,265 64,736
Obligations under finance leases and hire purchase contracts 11,384 0
Other creditors 10,247 14,323
149,834 99,993

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

2024 2023
£ £
Bank loans 8,334 28,333
Obligations under finance leases and hire purchase contracts 76,334 0
84,668 28,333

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

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to the directors 2,068 19

The loans were unsecured, interest free and repayable on demand.