Company No: SC569676 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	4	90,900		121,200
Tangible assets	5	35,508		32,396
		126,408		153,596
Current assets
Stocks	6	27,158		12,555
Debtors	7	146,706		102,983
Cash at bank and in hand	8	154,342		118,797
		328,206		234,335
Creditors: amounts falling due within one year	9	( 355,747)		( 274,629)
Net current liabilities		(27,541)		(40,294)
Total assets less current liabilities		98,867		113,302
Creditors: amounts falling due after more than one year	10	( 17,379)		( 33,593)
Provision for liabilities		( 7,891)		( 7,283)
Net assets		73,597		72,426
Capital and reserves
Called-up share capital	11	2		2
Profit and loss account		73,595		72,424
Total shareholder's funds		73,597		72,426

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Inchvannie House Dental Practice Ltd (registered number: SC569676) were approved and authorised for issue by the Board of Directors on 17 September 2025. They were signed on its behalf by:

Navin Aziz Director

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

Inchvannie House Dental Practice Ltd (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 41 Duke Street, Huntly, AB54 8DT, 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 goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

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	6.66 years straight line
Fixtures and fittings	15 years straight line
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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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	15		16

4. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 October 2023	303,000		303,000
At 30 September 2024	303,000		303,000
Accumulated amortisation
At 01 October 2023	181,800		181,800
Charge for the financial year	30,300		30,300
At 30 September 2024	212,100		212,100
Net book value
At 30 September 2024	90,900		90,900
At 30 September 2023	121,200		121,200

5. Tangible assets

	Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 October 2023	41,899		978		11,512		54,389
Additions	7,977		692		2,382		11,051
At 30 September 2024	49,876		1,670		13,894		65,440
Accumulated depreciation
At 01 October 2023	12,965		54		8,974		21,993
Charge for the financial year	6,656		84		1,199		7,939
At 30 September 2024	19,621		138		10,173		29,932
Net book value
At 30 September 2024	30,255		1,532		3,721		35,508
At 30 September 2023	28,934		924		2,538		32,396

6. Stocks

	2024		2023
	£		£
Stocks	27,158		12,555

7. Debtors

	2024		2023
	£		£
Trade debtors	124,075		93,894
Prepayments	13,181		7,989
Corporation tax	9,000		0
Other debtors	450		1,100
	146,706		102,983

8. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	154,342		118,797

9. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,000		10,000
Amounts owed to Group undertakings	148,718		187,147
Taxation and social security	102,257		2,649
Obligations under finance leases and hire purchase contracts	6,207		6,207
Other creditors	88,565		68,626
	355,747		274,629

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

	2024		2023
	£		£
Bank loans (secured)	6,667		16,667
Obligations under finance leases and hire purchase contracts	10,712		16,926
	17,379		33,593

The bank loan is secured by way of a floating charge over all of the property and undertakings of the company. The charge contains a negative pledge.

11. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

12. Related party transactions

Other related party transactions

	2024		2023
	£		£
Amounts owed to AGDP Holdings Ltd	165,258		164,509
Amounts owed by Huntly Dental Practice Ltd	25,880		26,098
Amounts owed by Inverurie Smile Care Ltd	4,888		3,962
Amounts owed to Skye & Lochalsh Dental Practice Ltd	14,229		52,699

The loans are unsecured and repayable on demand.

13. Ultimate controlling party

Parent Company:

AGDP Holdings Limited

41 Duke Street Huntly AB54 8DT