Cottage Dental Ormskirk LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC414533

Cottage Dental Ormskirk LLP

Filleted Unaudited Financial Statements

31 December 2024

Cottage Dental Ormskirk LLP

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	258,727	360,018
Tangible assets	6	48,688	56,341
		---------	---------
		307,415	416,359

Current assets

Stocks		13,500	13,500
Debtors	7	15,933	28,034
Cash at bank and in hand		136,763	269,134
		---------	---------
		166,196	310,668

Creditors: amounts falling due within one year	8	123,067		154,104
		---------		---------
Net current assets			43,129	156,564
			---------	---------
Total assets less current liabilities			350,544	572,923

Creditors: amounts falling due after more than one year	9	9,890	9,950
		---------	---------
Net assets		340,654	562,973
		---------	---------

Represented by:

Loans and other debts due to members

Members' capital classified as a liability	10	(31,459)	(149,161)
Other amounts	10	97,907	334,813
		--------	---------
		66,448	185,652

Members' other interests

Members' capital classified as equity	274,206	377,321
Other reserves	–	–
	---------	---------
	340,654	562,973
	---------	---------

Total members' interests

Loans and other debts due to members	10	66,448	185,652
Members' other interests		274,206	377,321
		---------	---------
		340,654	562,973
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

Cottage Dental Ormskirk LLP

Statement of Financial Position (continued)

31 December 2024

For the year ending 31 December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the members and authorised for issue on 29 September 2025 , and are signed on their behalf by:

RM Dental Limited

Designated Member

Registered number: OC414533

Cottage Dental Ormskirk LLP

Notes to the Financial Statements

Year ended 31 December 2024

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 58 Moor Street, Ormskirk, England, L39 2AW.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2023. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 15 (2023: 16 ).

5.	Intangible assets

	Goodwill
	£
Cost
At 1 January 2024	1,083,326
Additions	1,824
	------------
At 31 December 2024	1,085,150
	------------
Amortisation
At 1 January 2024	723,308
Charge for the year	103,115
	------------
At 31 December 2024	826,423
	------------
Carrying amount
At 31 December 2024	258,727
	------------
At 31 December 2023	360,018
	------------

6.	Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	–	100,844	8,043	4,146	6,790	119,823
Additions	10,443	7,254	–	–	–	17,697
	--------	---------	-------	-------	-------	---------
At 31 Dec 2024	10,443	108,098	8,043	4,146	6,790	137,520
	--------	---------	-------	-------	-------	---------
Depreciation
At 1 Jan 2024	–	60,212	1,115	1,642	513	63,482
Charge for the year	1,442	19,208	1,608	829	2,263	25,350
	--------	---------	-------	-------	-------	---------
At 31 Dec 2024	1,442	79,420	2,723	2,471	2,776	88,832
	--------	---------	-------	-------	-------	---------
Carrying amount
At 31 Dec 2024	9,001	28,678	5,320	1,675	4,014	48,688
	--------	---------	-------	-------	-------	---------
At 31 Dec 2023	–	40,632	6,928	2,504	6,277	56,341
	--------	---------	-------	-------	-------	---------

7.	Debtors

	2024	2023
	£	£
Other debtors	15,933	28,034
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	2,346	4,968
Other creditors	120,721	149,136
	---------	---------
	123,067	154,104
	---------	---------

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

	2024	2023
	£	£
Other creditors	9,890	9,950
	-------	-------

10.	Loans and other debts due to members

	2024	2023
	£	£
Amounts owed to members in respect of profits	97,907	334,813
	--------	---------

11.	Transition to FRS 102

These are the first financial statements that comply with FRS 102. The LLP transitioned to FRS 102 on 1 January 2023.

No transitional adjustments were required in equity or profit or loss for the year.