Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 301,703 | 246,945 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 4 |
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| Cash at bank and in hand | 5 |
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| 282,507 | 80,279 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 144,089 | 10,225 | ||
| Total assets less current liabilities | 445,792 | 257,170 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | 8, 9 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 10 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Forfar Dental Care Limited (registered number:
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Dr Victoria Anne Wakefield Lyburn
Director |
John Usherwood Duncan Lyburn
Director |
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.
Forfar Dental Care 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 83 Castle Street, Forfar, DD8 3AG, Scotland, 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 £.
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.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
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.
| Land and buildings | not depreciated |
| Leasehold improvements | not depreciated |
| Plant and machinery |
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| Computer equipment |
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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.
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 Statement of Income and Retained Earnings 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.
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 Statement of Income and Retained Earnings as described below.
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.
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.
Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors are recognised at transaction price.
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.
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.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Leasehold improve- ments |
Plant and machinery | Computer equipment | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 September 2024 |
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| Additions |
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| At 31 August 2025 |
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| Accumulated depreciation | |||||||||
| At 01 September 2024 |
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| Charge for the financial year |
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| At 31 August 2025 |
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| Net book value | |||||||||
| At 31 August 2025 | 63,110 | 107,132 | 124,599 | 6,862 | 301,703 | ||||
| At 31 August 2024 | 0 | 104,751 | 135,551 | 6,643 | 246,945 |
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| Trade debtors |
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| Amounts owed by related parties |
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| Corporation tax |
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| Other debtors |
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| £ | £ | ||
| Cash at bank and in hand |
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| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Taxation and social security |
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| Obligations under finance leases and hire purchase contracts |
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| Other creditors |
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| £ | £ | ||
| Bank loans |
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| Obligations under finance leases and hire purchase contracts |
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| £ | £ | ||
| Deferred tax |
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| £ | £ | ||
| At the beginning of financial year |
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| Charged to the Statement of Income and Retained Earnings | (
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| At the end of financial year | (
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Other related party transactions
| 2025 | 2024 | ||
| £ | £ | ||
| Messrs J U D Lyburn | 118,517 | 0 |