IRIS Accounts Production v17.3.1.106 SC372251 director 1.5.16 30.4.17 30.4.17 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC3722512016-04-30SC3722512017-04-30SC3722512016-05-012017-04-30SC3722512015-04-30SC3722512015-05-012016-04-30SC3722512016-04-30SC372251ns15:Scotland2016-05-012017-04-30SC372251ns14:PoundSterling2016-05-012017-04-30SC372251ns10:Director12016-05-012017-04-30SC372251ns10:PrivateLimitedCompanyLtd2016-05-012017-04-30SC372251ns10:SmallEntities2016-05-012017-04-30SC372251ns10:AuditExempt-NoAccountantsReport2016-05-012017-04-30SC372251ns10:SmallCompaniesRegimeForDirectorsReport2016-05-012017-04-30SC372251ns10:SmallCompaniesRegimeForAccounts2016-05-012017-04-30SC372251ns10:FullAccounts2016-05-012017-04-30SC37225112016-05-012017-04-30SC372251ns10:CompanySecretary12016-05-012017-04-30SC372251ns10:RegisteredOffice2016-05-012017-04-30SC372251ns5:CurrentFinancialInstruments2017-04-30SC372251ns5:CurrentFinancialInstruments2016-04-30SC372251ns5:Non-currentFinancialInstruments2017-04-30SC372251ns5:Non-currentFinancialInstruments2016-04-30SC372251ns5:ShareCapital2017-04-30SC372251ns5:ShareCapital2016-04-30SC372251ns5:RetainedEarningsAccumulatedLosses2017-04-30SC372251ns5:RetainedEarningsAccumulatedLosses2016-04-30SC372251ns5:NetGoodwill2016-05-012017-04-30SC372251ns5:IntangibleAssetsOtherThanGoodwill2016-05-012017-04-30SC372251ns5:PlantMachinery2016-05-012017-04-30SC372251ns5:FurnitureFittings2016-05-012017-04-30SC372251ns5:NetGoodwill2016-04-30SC372251ns5:NetGoodwill2017-04-30SC372251ns5:NetGoodwill2016-04-30SC372251ns5:PlantMachinery2016-04-30SC372251ns5:FurnitureFittings2016-04-30SC372251ns5:PlantMachinery2017-04-30SC372251ns5:FurnitureFittings2017-04-30SC372251ns5:PlantMachinery2016-04-30SC372251ns5:FurnitureFittings2016-04-30SC372251ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-04-30SC372251ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-04-30SC372251ns5:Secured2017-04-30SC372251ns5:Secured2016-04-30SC372251ns5:DeferredTaxation2016-04-30SC372251ns5:DeferredTaxation2016-05-012017-04-30SC372251ns5:DeferredTaxation2017-04-30


REGISTERED NUMBER: SC372251 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2017

for

Academy Practice Limited

Academy Practice Limited (Registered number: SC372251)






Contents of the Financial Statements
for the Year Ended 30 April 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Academy Practice Limited

Company Information
for the Year Ended 30 April 2017







DIRECTOR: Mr Cameron Black





SECRETARY: Mrs Margaret Rose Black





REGISTERED OFFICE: 29 Academy Street
Coatbridge
Lanarkshire
ML5 3AW





REGISTERED NUMBER: SC372251 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Academy Practice Limited (Registered number: SC372251)

Balance Sheet
30 April 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 260,000 280,000
Tangible assets 5 10,124 12,657
270,124 292,657

CURRENT ASSETS
Stock 1,252 1,570
Debtors 6 14,249 16,652
Cash at bank 5,161 6,747
20,662 24,969
CREDITORS
Amounts falling due within one year 7 57,398 60,817
NET CURRENT LIABILITIES (36,736 ) (35,848 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

233,388

256,809

CREDITORS
Amounts falling due after more than one
year

8

(3,133

)

(7,833

)

PROVISIONS FOR LIABILITIES 10 (1,924 ) (2,531 )
NET ASSETS 228,331 246,445

Academy Practice Limited (Registered number: SC372251)

Balance Sheet - continued
30 April 2017

2017 2016
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 228,231 246,345
SHAREHOLDERS' FUNDS 228,331 246,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 27 January 2018 and were signed by:





Mr Cameron Black - Director


Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements
for the Year Ended 30 April 2017

1. STATUTORY INFORMATION

Academy Practice Limited is a private company, limited by shares , registered in Scotland. The
company's registered number and registered office address can be found on the Company Information
page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2010, is being
amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Dental equipment - 20% on reducing balance
Fittings and equipment - 20% on reducing balance

Stocks
Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete
and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
except to the extent that it relates to items recognised in other comprehensive income or directly in
equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
enacted or substantively enacted by the balance sheet date.


Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2017

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods
different from those in which they are recognised in financial statements. Deferred tax is measured
using tax rates and laws that have been enacted or substantively enacted by the year end and that are
expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2016
and 30 April 2017 400,000
AMORTISATION
At 1 May 2016 120,000
Charge for year 20,000
At 30 April 2017 140,000
NET BOOK VALUE
At 30 April 2017 260,000
At 30 April 2016 280,000

Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2017

5. TANGIBLE FIXED ASSETS
Fittings
Dental and
equipment equipment Totals
£    £    £   
COST
At 1 May 2016
and 30 April 2017 16,747 10,474 27,221
DEPRECIATION
At 1 May 2016 9,453 5,111 14,564
Charge for year 1,460 1,073 2,533
At 30 April 2017 10,913 6,184 17,097
NET BOOK VALUE
At 30 April 2017 5,834 4,290 10,124
At 30 April 2016 7,294 5,363 12,657

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 14,249 16,652

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 4,700 4,700
Taxation and social security 30,705 33,986
Other creditors 21,993 22,131
57,398 60,817

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2017 2016
£    £   
Bank loans 3,133 7,833

9. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 7,833 12,533

Academy Practice Limited (Registered number: SC372251)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2017

10. PROVISIONS FOR LIABILITIES
2017 2016
£    £   
Deferred tax 1,924 2,531

Deferred
tax
£   
Balance at 1 May 2016 2,531
Provided during year (607 )
Balance at 30 April 2017 1,924

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr. & Mrs. Cameron Black.