Company No: SC569701 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	4	214,500		286,000
Tangible assets	5	424,796		416,452
		639,296		702,452
Current assets
Stocks	6	19,104		10,020
Debtors	7	88,151		98,408
Cash at bank and in hand	8	94,853		74,593
		202,108		183,021
Creditors: amounts falling due within one year	9	( 438,622)		( 469,973)
Net current liabilities		(236,514)		(286,952)
Total assets less current liabilities		402,782		415,500
Creditors: amounts falling due after more than one year	10	( 213,837)		( 259,431)
Provision for liabilities		( 10,410)		( 12,972)
Net assets		178,535		143,097
Capital and reserves
Called-up share capital	11	2		2
Profit and loss account		178,533		143,095
Total shareholder's funds		178,535		143,097

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 Huntly Dental Practice Limited (registered number: SC569701) 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

Huntly Dental Practice 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 41 Duke Street, Huntly, AB54 8DT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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:

Land and buildings	not depreciated
Leasehold improvements	15 % reducing balance
Plant and machinery	15 % 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
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	16		15

4. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 October 2023	715,000		715,000
At 30 September 2024	715,000		715,000
Accumulated amortisation
At 01 October 2023	429,000		429,000
Charge for the financial year	71,500		71,500
At 30 September 2024	500,500		500,500
Net book value
At 30 September 2024	214,500		214,500
At 30 September 2023	286,000		286,000

5. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 October 2023	337,408		29,330		99,238		1,551		467,527
Additions	0		8,208		13,790		0		21,998
At 30 September 2024	337,408		37,538		113,028		1,551		489,525
Accumulated depreciation
At 01 October 2023	0		4,001		45,891		1,183		51,075
Charge for the financial year	0		4,870		8,692		92		13,654
At 30 September 2024	0		8,871		54,583		1,275		64,729
Net book value
At 30 September 2024	337,408		28,667		58,445		276		424,796
At 30 September 2023	337,408		25,329		53,347		368		416,452

6. Stocks

	2024		2023
	£		£
Stocks	19,104		10,020

7. Debtors

	2024		2023
	£		£
Trade debtors	84,413		92,341
Prepayments	3,738		3,669
Other taxation and social security	0		2,398
	88,151		98,408

8. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	94,853		74,593

9. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	36,365		33,462
Amounts owed to Group undertakings	298,390		355,182
Accruals	67,444		64,716
Taxation and social security	13,559		0
Obligations under finance leases and hire purchase contracts	12,609		6,492
Other creditors	10,255		10,121
	438,622		469,973

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

	2024		2023
	£		£
Bank loans (secured)	213,837		253,084
Obligations under finance leases and hire purchase contracts	0		6,347
	213,837		259,431

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	247,618		308,861
Amounts owed to Inchvannie House Dental Practice Ltd	25,880		26,098
Amounts owed to Inverurie Smile Care Ltd	4,929		5,039
Amounts owed to Skye & Lochalsh Dental Practice Ltd	19,963		15,184

The loans are unsecured and and repayable on demand.

13. Ultimate controlling party

Parent Company:

AGDP Holdings Limited

41 Duke Street Huntly AB54 8DT