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Company No: SC374922 (Scotland)

# ANDREW JEFFREY & ASSOCIATES LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

ANDREW JEFFREY & ASSOCIATES LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

ANDREW JEFFREY & ASSOCIATES LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
ANDREW JEFFREY & ASSOCIATES LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 4 | 0 |  | 41,284
Tangible assets | 5 | 196,813 |  | 207,673
|  | 196,813 |  | 248,957
Current assets |  |  |  |
Stocks |  | 17,448 |  | 18,490
Debtors | 6 | 173,341 |  | 91,376
Cash at bank and in hand |  | 229,520 |  | 206,678
|  | 420,309 |  | 316,544
Creditors: amounts falling due within one year | 7 | ( 153,471) |  | ( 156,638)
Net current assets |  | 266,838 |  | 159,906
Total assets less current liabilities |  | 463,651 |  | 408,863
Creditors: amounts falling due after more than one year | 8 | ( 315,238) |  | ( 344,298)
Provision for liabilities | 9 | ( 23,304) |  | ( 33,812)
Net assets |  | 125,109 |  | 30,753
Capital and reserves |  |  |  |
Called-up share capital | 10 | 1,000 |  | 1,000
Profit and loss account |  | 124,109 |  | 29,753
Total shareholders' funds |  | 125,109 |  | 30,753

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have 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 Andrew Jeffrey & Associates Limited (registered number: SC374922) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

A Jeffrey Director |

ANDREW JEFFREY & ASSOCIATES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
ANDREW JEFFREY & ASSOCIATES LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 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

Andrew Jeffrey & Associates 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 5 Hope Park Terrace, Edinburgh, EH8 9LZ, 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 represents amounts receivable for dentistry services. Turnover is recognised when the company has entitlement to the income in exchange for the provision of dental services.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

##### 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.

##### 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

###### Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

##### 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:

Leasehold improvements | 10 years straight line
Plant and machinery | 25 % reducing balance
| 10 years straight line
Vehicles | 25 % reducing balance
Fixtures and fittings | 15 % reducing balance
Office equipment | 3 years straight line

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 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.

##### 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.
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.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

##### 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

#### 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

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 7 |  | 8

#### 4. Intangible assets

| Goodwill |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 517,899 |  | 517,899
At 31 March 2025 | 517,899 |  | 517,899
Accumulated amortisation |  |  |
At 01 April 2024 | 476,615 |  | 476,615
Charge for the financial year | 41,284 |  | 41,284
At 31 March 2025 | 517,899 |  | 517,899
Net book value |  |  |
At 31 March 2025 | 0 |  | 0
At 31 March 2024 | 41,284 |  | 41,284

#### 5. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 April 2024 | 20,294 |  | 223,718 |  | 114,230 |  | 113,209 |  | 20,752 |  | 492,203
Additions | 0 |  | 34,243 |  | 0 |  | 839 |  | 0 |  | 35,082
At 31 March 2025 | 20,294 |  | 257,961 |  | 114,230 |  | 114,048 |  | 20,752 |  | 527,285
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 April 2024 | 20,294 |  | 137,372 |  | 23,195 |  | 91,578 |  | 12,091 |  | 284,530
Charge for the financial year | 0 |  | 26,837 |  | 11,509 |  | 3,320 |  | 4,276 |  | 45,942
At 31 March 2025 | 20,294 |  | 164,209 |  | 34,704 |  | 94,898 |  | 16,367 |  | 330,472
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 March 2025 | 0 |  | 93,752 |  | 79,526 |  | 19,150 |  | 4,385 |  | 196,813
At 31 March 2024 | 0 |  | 86,346 |  | 91,035 |  | 21,631 |  | 8,661 |  | 207,673

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 8,788 |  | 8,141
Amounts owed by directors | 116,563 |  | 59,233
Prepayments | 11,111 |  | 4,942
Other debtors | 36,879 |  | 19,060
| 173,341 |  | 91,376

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 26,902 |  | 25,508
Trade creditors | 19,526 |  | 18,949
Accruals | 6,926 |  | 14,216
Corporation tax | 96,195 |  | 75,205
Other taxation and social security | 0 |  | ( 210)
Other creditors | 3,922 |  | 22,970
| 153,471 |  | 156,638

National Westminster Bank PLC hold a bond and floating charge over the whole assets of the company.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 315,238 |  | 344,298

National Westminster Bank PLC hold a bond and floating charge over the whole assets of the company.

#### 9. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 23,304 |  | 33,812

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000 Ordinary shares of £ 1.00 each | 1,000 |  | 1,000

#### 11. Related party transactions

Transactions with the entity's directors

| 2025 |  | 2024
| £ |  | £
Key Management Personnel | 116,563 |  | 59,233

Balance due to the company from it's directors. Interest is being charged and the balance is repayable on demand.