REGISTRAR OF COMPANIES |
Registration number:
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James Tomlinson Dental Implants Limited
Contents
Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
James Tomlinson Dental Implants Limited
for the Year Ended 2 May 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of James Tomlinson Dental Implants Limited for the year ended 2 May 2022 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of James Tomlinson Dental Implants Limited, as a body, in accordance with the terms of our engagement letter dated 8 February 2019. Our work has been undertaken solely to prepare for your approval the accounts of James Tomlinson Dental Implants Limited and state those matters that we have agreed to state to the Board of Directors of James Tomlinson Dental Implants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James Tomlinson Dental Implants Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that James Tomlinson Dental Implants Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of James Tomlinson Dental Implants Limited. You consider that James Tomlinson Dental Implants Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of James Tomlinson Dental Implants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Chartered Accountants
Cornmarket
PENRITH
CA11 7HW
James Tomlinson Dental Implants Limited
(Registration number: 07699535)
Balance Sheet as at 2 May 2022
Note |
2022 |
2021 |
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Fixed assets |
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Other financial assets |
390,390 |
347,025 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Allotted, called up and fully paid share capital |
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Profit and loss account |
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Total equity |
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James Tomlinson Dental Implants Limited
(Registration number: 07699535)
Balance Sheet as at 2 May 2022 (continued)
For the financial year ending 2 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
.........................................
J W Tomlinson
Director
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M A F Tomlinson
Director
James Tomlinson Dental Implants Limited
Notes to the Financial Statements for the Year Ended 2 May 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
James Tomlinson Dental Implants Limited
Notes to the Financial Statements for the Year Ended 2 May 2022 (continued)
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.
James Tomlinson Dental Implants Limited
Notes to the Financial Statements for the Year Ended 2 May 2022 (continued)
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
James Tomlinson Dental Implants Limited
Notes to the Financial Statements for the Year Ended 2 May 2022 (continued)
Other financial assets (current and non-current) |
2022 |
2021 |
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Non-current financial assets |
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Financial assets at fair value through profit and loss |
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Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 3 May 2021 |
347,025 |
347,025 |
Fair value adjustments |
43,365 |
43,365 |
At 2 May 2022 |
390,390 |
390,390 |
Carrying amount |
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At 2 May 2022 |
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390,390 |
James Tomlinson Dental Implants Limited
Notes to the Financial Statements for the Year Ended 2 May 2022 (continued)
Debtors |
2022 |
2021 |
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Other debtors |
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Creditors |
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Corporation tax liability |
13,507 |
9,549 |
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Other creditors |
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Related party transactions |
Transactions with directors |
2022 |
At 3 May 2021 |
Advances |
Repayments |
Other payments |
Dividends credited |
Interest |
At 2 May 2022 |
J W Tomlinson |
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Loan |
( |
( |
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- |
1,500 |
(391) |
( |
M A F Tomlinson |
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Loan |
- |
( |
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- |
28,500 |
(48) |
( |
2021 |
At 3 May 2020 |
Advances |
Repayments |
Other payments |
Dividends credited |
Interest |
At 2 May 2021 |
J W Tomlinson |
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Loan |
( |
( |
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- |
53,000 |
(888) |
( |
Directors' advances are repayable on demand.
Interest has been charged at a rate of 2% on advances to the directors.