Company Registration No. 07049142 (England and Wales)
CTS DENTAL RETAIL SUPPLIES LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018
CTS DENTAL RETAIL SUPPLIES LIMITED
COMPANY INFORMATION
Directors
Mrs Y Brown
Mr J Lodge
Company number
07049142
Registered office
Three Arch Business Park
Three Arch Road
Redhill
Surrey
RH1 5SS
Accountants
MHA Carpenter Box
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
CTS DENTAL RETAIL SUPPLIES LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Notes to the financial statements
5 - 6
CTS DENTAL RETAIL SUPPLIES LIMITED
DIRECTORS REPORT
FOR THE YEAR ENDED 30 JUNE 2018
- 1 -
The directors present their annual report and financial statements for the year ended 30 June 2018.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mrs Y Brown
Mr J Lodge
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr J Lodge
Director
22 November 2018
CTS DENTAL RETAIL SUPPLIES LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CTS DENTAL RETAIL SUPPLIES LIMITED FOR THE YEAR ENDED 30 JUNE 2018
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CTS Dental Retail Supplies Limited for the year ended 30 June 2018 set out on pages 3 to 6 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/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of CTS Dental Retail Supplies Limited, as a body, in accordance with the terms of our engagement
.
Our work has been undertaken solely to prepare for your approval the financial statements of CTS Dental Retail Supplies Limited
and state those matters that we have agreed to state to the Board of Directors of CTS Dental Retail Supplies 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 CTS Dental Retail Supplies Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that CTS Dental Retail Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss of CTS Dental Retail Supplies Limited. You consider that CTS Dental Retail Supplies 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 financial statements of CTS Dental Retail Supplies 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 financial statements.
MHA Carpenter Box
6 December 2018
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
CTS DENTAL RETAIL SUPPLIES LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2018
- 3 -
Year
Year
ended
ended
30 June
30 June
2018
2017
Notes
£
£
Administrative expenses
(11,264)
-
Loss before taxation
(11,264)
-
Tax on loss
-
-
Loss for the financial year
(11,264)
-
CTS DENTAL RETAIL SUPPLIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2018
30 June 2018
- 4 -
2018
2017
Notes
£
£
£
£
Non-current assets
Investment properties
2
666,770
-
Current assets
Cash and cash equivalents
15,002
1
Current liabilities
3
(693,034)
-
Net current (liabilities)/assets
(678,032)
1
Total assets less current liabilities
(11,262)
1
Equity
Called up share capital
4
2
1
Retained earnings
(11,264)
-
Total equity
(11,262)
1
For the financial year ended 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 22 November 2018 and are signed on its behalf by:
Mrs Y Brown
Mr J Lodge
Director
Director
Company Registration No. 07049142
CTS DENTAL RETAIL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018
- 5 -
1
Accounting policies
Company information
CTS Dental Retail Supplies Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Three Arch Business Park, Three Arch Road, Redhill, Surrey, RH1 5SS.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £
1
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30
June
201
8
are the
first
financial statements of
CTS Retail Supplies Limited
prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1
July
201
6
. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Going concern
A
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
The surplus or deficit on revaluation is recognised in profit or loss.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as property, plant and equipment.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include
debtors
, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost
.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. All called up share capital is allotted and fully paid.
CTS DENTAL RETAIL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2018
- 6 -
2
Investment property
2018
£
Fair value
At 1 July 2017
-
Additions
666,770
At 30 June 2018
666,770
The fair value of the investment property
is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
.
3
Current liabilities
2018
2017
£
£
Other payables
693,034
-
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
2 ordinary share of £1 each
2
1
2
1