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Registration number: 05697979

A&M Dental Laboratory Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2017

Sujatha Renganathan FCCA-AIMS Accountants for Business
Chartered Certified Accountant
167 Kenmore Avenue
London
HA3 8PB

 

A&M Dental Laboratory Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

A&M Dental Laboratory Limited

Company Information

Directors

Marc Portsmouth

A J Fitzhugh

Registered office

326 The Rear
St.Albans Road
Watford
WD24 6PQ

Accountants

Sujatha Renganathan FCCA-AIMS Accountants for Business
Chartered Certified Accountant
167 Kenmore Avenue
London
HA3 8PB

 

A&M Dental Laboratory Limited

(Registration number: 05697979)
Balance Sheet as at 30 November 2017

Note

2017
£

2016
£

Current assets

 

Debtors

5

982

8,775

Cash at bank and in hand

 

2,700

2,069

 

3,682

10,844

Creditors: Amounts falling due within one year

(7,122)

(6,278)

Net (liabilities)/assets

 

(3,440)

4,566

Capital and reserves

 

Called up share capital

6

2

2

Profit and loss account

(3,442)

4,564

Total equity

 

(3,440)

4,566

For the financial year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 August 2018 and signed on its behalf by:
 

.........................................

Marc Portsmouth
Director

.........................................

A J Fitzhugh
Director

 

A&M Dental Laboratory Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
326 The Rear
St.Albans Road
Watford
WD24 6PQ

These financial statements were authorised for issue by the Board on 14 August 2018.

2

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

A&M Dental Laboratory Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% wdv

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 merchandise sold 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

 

A&M Dental Laboratory Limited

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

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 30 November 2017

5

Debtors

2017
£

2016
£

Trade debtors

982

8,775

982

8,775

6

Share capital

Allotted, called up and fully paid shares

 

2017

2016

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

         

7

Dividends

   

2017

 

2016

   

£

 

£

8

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2017
£

2016
£

Remuneration

24,000

16,128