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Registration number: 08230156

Grange Farm Dental Practice Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

image-name
 

Grange Farm Dental Practice Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Grange Farm Dental Practice Ltd

Company Information

Director

G Challa

Registered office

27 Singleton Drive
Grange Farm
Milton Keynes
Buckinghamshire
MK8 0PX

Accountants

Michael J Emery & Co Limited
Chartered Accountants22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Grange Farm Dental Practice Ltd

(Registration number: 08230156)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

18,401

20,701

Tangible assets

5

118,929

123,760

 

137,330

144,461

Current assets

 

Stocks

6

2,100

960

Debtors

7

11,768

10,334

Cash at bank and in hand

 

31,173

28,894

 

45,041

40,188

Creditors: Amounts falling due within one year

8

(49,243)

(24,449)

Net current (liabilities)/assets

 

(4,202)

15,739

Total assets less current liabilities

 

133,128

160,200

Creditors: Amounts falling due after more than one year

8

(102,000)

(156,439)

Net assets

 

31,128

3,761

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

31,126

3,759

Shareholders' funds

 

31,128

3,761

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 June 2025
 

 

Grange Farm Dental Practice Ltd

(Registration number: 08230156)
Balance Sheet as at 31 December 2024

.........................................
G Challa
Director

 

Grange Farm Dental Practice Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales. Company number 08230156.

The address of its registered office is:
27 Singleton Drive
Grange Farm
Milton Keynes
Buckinghamshire
MK8 0PX
UK

These financial statements were authorised for issue by the director on 13 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Grange Farm Dental Practice Ltd

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

Straight line over 16 years

Plant and machinery etc

15% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: over twenty years.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Grange Farm Dental Practice Ltd

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Grange Farm Dental Practice Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, including the director, was 4 (2023 - 4).

 

Grange Farm Dental Practice Ltd

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

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

46,000

1

46,001

At 31 December 2024

46,000

1

46,001

Amortisation

At 1 January 2024

25,300

-

25,300

Amortisation charge

2,300

-

2,300

At 31 December 2024

27,600

-

27,600

Carrying amount

At 31 December 2024

18,400

1

18,401

At 31 December 2023

20,700

1

20,701

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

146,862

256,892

403,754

Additions

-

16,061

16,061

At 31 December 2024

146,862

272,953

419,815

Depreciation

At 1 January 2024

99,761

180,233

279,994

Charge for the year

9,179

11,713

20,892

At 31 December 2024

108,940

191,946

300,886

Carrying amount

At 31 December 2024

37,922

81,007

118,929

At 31 December 2023

47,101

76,659

123,760

 

Grange Farm Dental Practice Ltd

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

6

Stocks

2024
£

2023
£

Inventory

2,100

960

7

Debtors

Current

2024
£

2023
£

Trade debtors

5,151

3,434

Prepayments

6,300

6,900

Other debtors

317

-

 

11,768

10,334

 

Grange Farm Dental Practice Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

5,248

-

Trade creditors

 

15,001

1,605

Taxation and social security

 

23,943

7,139

Other creditors

 

3,851

12,345

Accruals

 

1,200

3,360

 

49,243

24,449

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

102,000

156,439

9

Share capital

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

102,000

156,439

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,248

-