Registered number
07995316
Miriam Vivian Limited
Filleted Accounts
31 March 2025
Miriam Vivian Limited
Registered number: 07995316
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 72,708 96,942
Tangible assets 4 363,352 352,334
436,060 449,276
Current assets
Stocks 3,802 2,586
Debtors 5 14,409 42,329
Cash at bank and in hand 140,330 177,174
158,541 222,089
Creditors: amounts falling due within one year 6 (193,168) (190,294)
Net current (liabilities)/assets (34,627) 31,795
Total assets less current liabilities 401,433 481,071
Creditors: amounts falling due after more than one year 7 (292,085) (332,744)
Net assets 109,348 148,327
Capital and reserves
Called up share capital 100 100
Profit and loss account 109,248 148,227
Shareholders' funds 109,348 148,327
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.
M.Vivian
Director
Approved by the board on 30.5.2025
Miriam Vivian Limited
Notes to the Accounts
for the year ended 31 March 2025
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term of 25 years
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 2025 2024
Number Number
Average number of persons employed by the company 12 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 352,956
At 31 March 2025 352,956
Amortisation
At 1 April 2024 256,014
Provided during the year 24,234
At 31 March 2025 280,248
Net book value
At 31 March 2025 72,708
At 31 March 2024 96,942
Goodwill is being written off in equal annual instalments over its estimated economic life and will be fully written off by 31.3.2028
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 112,957 546,068 659,025
Additions - 77,936 77,936
At 31 March 2025 112,957 624,004 736,961
Depreciation
At 1 April 2024 13,148 293,543 306,691
Charge for the year 4,518 62,400 66,918
At 31 March 2025 17,666 355,943 373,609
Net book value
At 31 March 2025 95,291 268,061 363,352
At 31 March 2024 99,809 252,525 352,334
5 Debtors 2025 2024
£ £
Trade debtors 5,179 4,761
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 5,087
Other debtors 9,230 32,481
14,409 42,329
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 57,226 57,226
Obligations under finance lease and hire purchase contracts 19,634 15,399
Trade creditors 116,013 97,895
Taxation and social security costs 295 19,774
193,168 190,294
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 265,685 305,964
Obligations under finance lease and hire purchase contracts 26,400 26,780
292,085 332,744
8 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years 304,871 330,277
Secured bank loans 322,911 363,190
The bank has a charge over the practice lease, goodwill, plant, equipment, fixtures & fittings and the director's personal property.
9 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 259,322 307,322
10 Other information
Miriam Vivian Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Stables Dental Practice
Newton Morrell Farm
Newton Morrell Farm
Oxon
OX27 8AG
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