2M Practices Limited - Filleted accounts

Registered number

07947688

2M Practices Limited

Filleted Accounts

31 March 2026

2M Practices Limited
Registered number:		07947688
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Intangible assets	3		197,808			197,808
Tangible assets	4		247,062			273,648
			444,870			471,456

Current assets
Stocks		11,215			11,100
Debtors	5	237,470			135,192
Cash at bank and in hand		112,724			184,550
		361,409			330,842

Creditors: amounts falling due within one year	6	(201,590)			(201,015)

Net current assets			159,819			129,827

Total assets less current liabilities			604,689			601,283

Creditors: amounts falling due after more than one year	7		(290,278)			(439,166)

Provisions for liabilities			(58,618)			(68,412)


Net assets			255,793			93,705

Capital and reserves
Called up share capital			500			500
Profit and loss account			255,293			93,205

Shareholders' funds			255,793			93,705

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mitul Patel
Director
Approved by the board on 20 October 2026

2M Practices Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			15% reducing balance basis
	Fixtures, fittings, tools and equipment			15% reducing balance basis
	Computer equipment			15% reducing balance basis
	Motor vehicles			25% reducing balance basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					8		8


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2025							659,360
	At 31 March 2026							659,360

	Amortisation
	At 1 April 2025							461,552
	At 31 March 2026							461,552

	Net book value
	At 31 March 2026							197,808
	At 31 March 2025							197,808

	Goodwill is not being written off as it is not expected to diminish in value over time.


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2025	104,146		445,851		207,144		757,141
	Additions	58,822		8,080		-		66,902
	Disposals	-		-		(173,898)		(173,898)
	At 31 March 2026	162,968		453,931		33,246		650,145

	Depreciation
	At 1 April 2025	46,006		310,301		127,186		483,493
	Charge for the year	10,686		21,545		6,233		38,464
	On disposals	-		-		(118,874)		(118,874)
	At 31 March 2026	56,692		331,846		14,545		403,083

	Net book value
	At 31 March 2026	106,276		122,085		18,701		247,062
	At 31 March 2025	58,140		135,550		79,958		273,648


5	Debtors					2026		2025
£							£

	Trade debtors					13,871		12,377
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					98,221		5,337
	Other debtors					125,378		117,478
						237,470		135,192


6	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					43,667		56,000
	Obligations under finance lease and hire purchase contracts					34,073		43,930
	Trade creditors					21,054		13,644
	Taxation and social security costs					78,675		65,803
	Other creditors					24,121		21,638
						201,590		201,015


7	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					265,466		312,421
	Obligations under finance lease and hire purchase contracts					24,812		126,745
						290,278		439,166


8	Loans					2026		2025
£							£
	Creditors include:
	Instalments falling due for payment after more than five years					59,887		73,220


	Secured bank loans					309,133		368,421

	The total outstanding balance of the loan at 31st March 2026 was £309,133.


9	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mitul Patel
	Director's loan	89,791		7,901		-		97,692

		89,791		7,901		-		97,692

	The above loan was unsecured and repayable on demand. Interest was paid at the official rate.
	An amount of £7,901 will be repaid to the company within 9 months of the 31 March 2026.


10	Other information

	2M Practices Limited is a private company limited by shares and incorporated in England. Its registered office is:
	4 Waterden Road
	Waterden Dental Practice
	Guildford
	Surrey
	GU1 2AW