The Adams and Lee Dental Practice Ltd - Limited company - abbreviated

REGISTERED NUMBER: 06555907 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

THE ADAMS AND LEE DENTAL PRACTICE LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr D Adams

Mr C J Lee

Ms L Adams

Ms T Lee

SECRETARY:

Mr C J Lee

REGISTERED OFFICE:

Gosford Lodge

Binley Road

Coventry

CV3 1JD

REGISTERED NUMBER:

06555907 (England and Wales)

ACCOUNTANTS:

Pentlands Accountants & Business Advisors

Chartered Certified Accountants

and Registered Auditors

3 Pegasus House

Pegasus Court

Olympus Avenue

Warwick

Warwickshire

CV34 6LW

FIXED ASSETS

Intangible assets

2

487,500

Tangible assets

3

37,345

45,663

524,845

533,163

CURRENT ASSETS

Stocks

7,500

16,300

Debtors

53,202

84,492

Cash at bank and in hand

4,345

412

65,047

101,204

CREDITORS

Amounts falling due within one
year

4

214,425

260,046

NET CURRENT LIABILITIES

(149,378

)

(158,842

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

375,467

374,321

CREDITORS

Amounts falling due after more
than one year

4

(63,721

)

(102,800

)

PROVISIONS FOR LIABILITIES

(6,541

)

(7,135

)

NET ASSETS

305,205

264,386

CAPITAL AND RESERVES

Called up share capital

5

100

Profit and loss account

305,105

264,286

SHAREHOLDERS' FUNDS

305,205

264,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year
in accordance with the requirements of Sections 394 and 395 and which otherwise comply
with the requirements of the Companies Act 2006 relating to financial statements, so far
as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 July 2014 and were
signed on its behalf by:

Mr D Adams - Director

Mr C J Lee - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in

respect of service contracts where turnover is recognised when the company obtains the

right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Goodwill is regarded as being held below market value and is therefore no longer being

amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Over the term of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment and website

-

33% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over

the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a

straight line basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

650,000

AMORTISATION

At 1 April 2013

and 31 March 2014

162,500

NET BOOK VALUE

At 31 March 2014

487,500

At 31 March 2013

487,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

149,278

Additions

11,971

Disposals

(11,193

)

At 31 March 2014

150,056

DEPRECIATION

At 1 April 2013

103,615

Charge for year

15,567

Eliminated on disposal

(6,471

)

At 31 March 2014

112,711

NET BOOK VALUE

At 31 March 2014

37,345

At 31 March 2013

45,663

4.

CREDITORS

Creditors include an amount of £ 67,420 (2013 - £ 84,194 ) for which security has been

given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

6.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by Mr D Adams and Mr C J Lee.

The Adams and Lee Dental Practice Ltd - Limited company - abbreviated - 11.0.0

The Adams and Lee Dental Practice Ltd - Limited company - abbreviated - 11.0.0