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EXCHANGE STREET PRACTICE LTD

Registered Number
07561034
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

EXCHANGE STREET PRACTICE LTD
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

Adam Peter Ombler

Registered Address

1 Houndale Bank
Driffield
YO25 6BQ

Registered Number

07561034 (England and Wales)
EXCHANGE STREET PRACTICE LTD
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Intangible assets3281,668281,668
Tangible assets4289,107376,074
570,775657,742
Current assets
Stocks17,13712,370
Debtors72,74835,679
Cash at bank and on hand162,978113,718
252,863161,767
Creditors amounts falling due within one year5(306,709)(298,626)
Net current assets (liabilities)(53,846)(136,859)
Total assets less current liabilities516,929520,883
Creditors amounts falling due after one year(44,242)(80,534)
Provisions for liabilities(70,355)(70,960)
Net assets402,332369,389
Capital and reserves
Called up share capital100100
Profit and loss account402,232369,289
Shareholders' funds402,332369,389
The financial statements were approved and authorised for issue by the Director on 18 June 2025, and are signed on its behalf by:
Adam Peter Ombler
Director
Registered Company No. 07561034
EXCHANGE STREET PRACTICE LTD
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Revenue from sale of goods
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year-end date is recognised by reference to the stage of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Intangible assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Related parties
The directors loan account (DLA) is a measure of how much capital the directors has put into the company versus how much the directors have taken out. Within Exchange Street Practice the directors loan account closing balance was £14,297.09 (2024 - £11,232.22).
2.Average number of employees

20252024
Average number of employees during the year2123
3.Intangible assets

Total

£
Cost or valuation
At 01 April 24701,668
At 31 March 25701,668
Amortisation and impairment
At 01 April 24420,000
At 31 March 25420,000
Net book value
At 31 March 25281,668
At 31 March 24281,668
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 24663,776
Additions40,306
Disposals(78,964)
At 31 March 25625,118
Depreciation and impairment
At 01 April 24287,702
Charge for year82,846
On disposals(34,537)
At 31 March 25336,011
Net book value
At 31 March 25289,107
At 31 March 24376,074
5.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables66,36573,437
Amounts owed to related parties171,492190,503
Taxation and social security46,332-
Finance lease and HP contracts19,93234,424
Accrued liabilities and deferred income2,588262
Total306,709298,626
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.
6.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts44,24280,534