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REGISTERED NUMBER: 08486321 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Ermevin Ltd

Ermevin Ltd (Registered number: 08486321)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ermevin Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTOR: A Rao





REGISTERED OFFICE: Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ





REGISTERED NUMBER: 08486321 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Ermevin Ltd (Registered number: 08486321)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 902,562 772,178
Investments 6 150,140 150,140
1,052,702 922,318

CURRENT ASSETS
Stocks 21,419 17,500
Debtors 7 672,485 535,658
Cash at bank 22,090 156,066
715,994 709,224
CREDITORS
Amounts falling due within one year 8 477,429 371,150
NET CURRENT ASSETS 238,565 338,074
TOTAL ASSETS LESS CURRENT LIABILITIES 1,291,267 1,260,392

CREDITORS
Amounts falling due after more than one
year

9

(781,622

)

(647,883

)

PROVISIONS FOR LIABILITIES (52,180 ) (22,368 )
NET ASSETS 457,465 590,141

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 457,464 590,140
457,465 590,141

Ermevin Ltd (Registered number: 08486321)

Balance Sheet - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 18 January 2024 and were signed by:





A Rao - Director


Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Ermevin Ltd is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of dentistry services in the ordinary course of the company’s activities.

The company recognises revenue when:
- It is in line with work performed;
- 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.

For Denplan patients the company recognises revenue:
- Evenly across the year as it is received from Denplan;
- When the amount to be received can be reliably measured;
- When it is probable that it will be paid to the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its estimated useful life of five years.

Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated in the balance sheet 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. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and buildings -not provided
Plant and machinery -20% on cost
Motor vehicles -20% on cost

At the year end the director has confirmed the market value of freehold land and buildings is greater than the cost, and the buildings are kept in a good state of repair, therefore the freehold land and buildings are not depreciated.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Dental 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.

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.


Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 15 ) .

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 234,997
AMORTISATION
At 1 May 2022
and 30 April 2023 234,997
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

5. TANGIBLE FIXED ASSETS
Freehold
land and Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 May 2022 655,183 457,027 5,358 1,117,568
Additions - 100,436 91,144 191,580
Disposals - - (5,358 ) (5,358 )
At 30 April 2023 655,183 557,463 91,144 1,303,790
DEPRECIATION
At 1 May 2022 - 341,995 3,395 345,390
Charge for year - 54,486 4,745 59,231
Eliminated on disposal - - (3,393 ) (3,393 )
At 30 April 2023 - 396,481 4,747 401,228
NET BOOK VALUE
At 30 April 2023 655,183 160,982 86,397 902,562
At 30 April 2022 655,183 115,032 1,963 772,178

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 May 2022
and 30 April 2023 150,140
NET BOOK VALUE
At 30 April 2023 150,140
At 30 April 2022 150,140

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:


Undertaking Registered Office Holding Proportion of voting rights
and shares held
Associate 2023 2022





Cinal Ltd
Suite 5 Corum 2
Corum Office Park,
Crown Way,
Warmley, Bristol,
BS30 8FJ




Ordinary




50%




50%

Ermevin Ltd owns 50 (2022 - 50) ordinary shares each worth £0.01.

The principal activity of Cinal Ltd is dental practice activities.


Undertaking Registered Office Holding Proportion of voting rights
and shares held
Associate 2023 2022


58 Queen Square Limited
58 Queen Square,
Bristol, BS1 4LF

Ordinary

33.33%

33.33%

Ermevin Ltd owns 3,334 (2022 - 3,334) ordinary shares each worth £0.01.

The principal activity of 58 Queen Square Limited is the provision of clinical facilities.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Amounts owed by participating interests 654,995 503,654
Other debtors 17,490 32,004
672,485 535,658

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 142,312 99,611
Hire purchase contracts 20,679 -
Trade creditors 146,884 59,153
Amounts owed to participating interests 12,640 8,957
Taxation and social security 70,867 80,122
Other creditors 84,047 123,307
477,429 371,150

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans 650,348 647,883
Hire purchase contracts 131,274 -
781,622 647,883

Included in bank loans in notes 8 and 9 is a combined balance of £271,165 (2022: £342,763) which is guaranteed by the government and unsecured.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Hire purchase contracts 151,953 -
Bank loans 377,629 404,732
529,582 404,732

Bank loans are secured by a legal charge which covers the freehold property known as 17 Queen Square, Bristol, BS1 4NH.

Hire purchase contracts are secured over the assets to which they relate.

11. PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £1,401 (2022 - £1,323) were payable to the fund at the reporting date.

12. OFF BALANCE SHEET COMMITMENTS

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £15,414 (2022 - £18,056).

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

13. RELATED PARTY DISCLOSURES

Loans to related parties



Other related
parties


Total
2023 £ £
At start of period 503,654 503,654
Advanced (56,579 ) (56,579 )
Repaid 207,920 207,920
At end of period 654,995 654,995


Other related
parties


Total
2022 £ £
At start of period 321,219 321,219
Advanced (43,251 ) (43,251 )
Repaid 225,686 225,686
At end of period 503,654 503,654

The loans to other related parties are interest free and repayable on demand.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

13. RELATED PARTY DISCLOSURES - continued

Loans from related parties



Key
Management

Other related
parties


Total
2023 £ £ £
At start of period 50 8,957 9,007
Advanced 302,799 15,000 317,799
Repaid (302,849 (11,317 ) (314,166 )
At end of period - 12,640 12,640


Key
Management

Other related
parties


Total
2022 £ £ £
At start of period 336 - 336
Advanced 265,874 9,000 274,874
Repaid (266,160 (43 ) (266,203 )
At end of period 50 8,957 9,007

The loans from key management are interest free and repayable on demand.
The loans from other related parties are interest free and repayable on demand.