Company Registration No. SC571510 (Scotland)
DENTAL IMPLANTS ABERDEEN LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2018
PAGES FOR FILING WITH REGISTRAR
DENTAL IMPLANTS ABERDEEN LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
DENTAL IMPLANTS ABERDEEN LTD
BALANCE SHEET
AS AT 31 OCTOBER 2018
31 October 2018
- 1 -
2018
Notes
£
£
Fixed assets
Intangible assets
4
450,000
Tangible assets
5
26,086
476,086
Current assets
Stocks
2,062
Debtors
6
349,515
Cash at bank and in hand
107,310
458,887
Creditors: amounts falling due within one year
7
(851,249)
Net current liabilities
(392,362)
Total assets less current liabilities
83,724
Capital and reserves
Called up share capital
8
100
Profit and loss reserves
83,624
Total equity
83,724
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on .........................
2019-04-17
..............................
2019-04-17
Mr C F Gray
Director
Company Registration No. SC571510
DENTAL IMPLANTS ABERDEEN LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 OCTOBER 2018
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Period ended 31 October 2018:
Profit and total comprehensive income for the period
-
83,624
83,624
Share capital
100
-
100
Balance at 31 October 2018
100
83,624
83,724
DENTAL IMPLANTS ABERDEEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2018
- 3 -
1
Accounting policies
Company information
Dental Implants Aberdeen Ltd is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
15 Gladstone Place, Stirling, FK8 2NN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover consists of the sales value in the period for the supply of services and good to third parties.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% Reducing balance
Fixtures and fittings
15% Reducing balance
Computers
25% Straight line
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
DENTAL IMPLANTS ABERDEEN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2018
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was 6.
4
Intangible fixed assets
Goodwill
£
Cost
At 18 July 2017
-
Additions
500,000
At 31 October 2018
500,000
Amortisation and impairment
At 18 July 2017
-
Amortisation charged for the period
50,000
At 31 October 2018
50,000
Carrying amount
At 31 October 2018
450,000
DENTAL IMPLANTS ABERDEEN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2018
- 5 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 18 July 2017
-
Additions
30,870
At 31 October 2018
30,870
Depreciation and impairment
At 18 July 2017
-
Depreciation charged in the period
4,784
At 31 October 2018
4,784
Carrying amount
At 31 October 2018
26,086
6
Debtors
2018
Amounts falling due within one year:
£
Trade debtors
20,730
Other debtors
328,536
Prepayments and accrued income
249
349,515
7
Creditors: amounts falling due within one year
2018
£
Corporation tax
32,626
Other creditors
792,347
Accruals and deferred income
26,276
851,249
8
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
DENTAL IMPLANTS ABERDEEN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2018
8
Called up share capital
(Continued)
- 6 -
9
Directors' transactions
At the balance sheet date the company owed Mr C F Gray £377,890. The loan is unsecured, interest free and repayable on demand.