SPS Dental Sales Limited 04813508 false 2022-01-01 2023-06-30 2023-06-30 The principal activity of the company is the sale, installation and servicing of dental equipment and furniture. Digita Accounts Production Advanced 6.30.9574.0 true 04813508 2022-01-01 2023-06-30 04813508 2023-06-30 04813508 bus:OrdinaryShareClass1 2023-06-30 04813508 bus:OrdinaryShareClass2 2023-06-30 04813508 core:CurrentFinancialInstruments 2023-06-30 04813508 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04813508 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 04813508 core:Goodwill 2023-06-30 04813508 core:FurnitureFittingsToolsEquipment 2023-06-30 04813508 core:OtherPropertyPlantEquipment 2023-06-30 04813508 bus:SmallEntities 2022-01-01 2023-06-30 04813508 bus:AuditExemptWithAccountantsReport 2022-01-01 2023-06-30 04813508 bus:FullAccounts 2022-01-01 2023-06-30 04813508 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2023-06-30 04813508 bus:RegisteredOffice 2022-01-01 2023-06-30 04813508 bus:CompanySecretaryDirector1 2022-01-01 2023-06-30 04813508 bus:Director1 2022-01-01 2023-06-30 04813508 bus:OrdinaryShareClass1 2022-01-01 2023-06-30 04813508 bus:OrdinaryShareClass2 2022-01-01 2023-06-30 04813508 bus:PrivateLimitedCompanyLtd 2022-01-01 2023-06-30 04813508 bus:Agent1 2022-01-01 2023-06-30 04813508 core:Goodwill 2022-01-01 2023-06-30 04813508 core:ComputerEquipment 2022-01-01 2023-06-30 04813508 core:FurnitureFittingsToolsEquipment 2022-01-01 2023-06-30 04813508 core:OfficeEquipment 2022-01-01 2023-06-30 04813508 core:OtherPropertyPlantEquipment 2022-01-01 2023-06-30 04813508 core:PlantMachinery 2022-01-01 2023-06-30 04813508 countries:AllCountries 2022-01-01 2023-06-30 04813508 2021-12-31 04813508 core:Goodwill 2021-12-31 04813508 core:FurnitureFittingsToolsEquipment 2021-12-31 04813508 core:OtherPropertyPlantEquipment 2021-12-31 04813508 2021-01-01 2021-12-31 04813508 2021-12-31 04813508 bus:OrdinaryShareClass1 2021-12-31 04813508 bus:OrdinaryShareClass2 2021-12-31 04813508 core:CurrentFinancialInstruments 2021-12-31 04813508 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 04813508 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 04813508 core:Goodwill 2021-12-31 04813508 core:FurnitureFittingsToolsEquipment 2021-12-31 04813508 core:OtherPropertyPlantEquipment 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registrar

Registration number: 04813508

SPS Dental Sales Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2022 to 30 June 2023

 

SPS Dental Sales Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

SPS Dental Sales Limited

Company Information

Directors

C Knight

K Knight

Company secretary

K Knight

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Lloyds Bank Plc
2 - 4 Bank Street
Braintree
Essex
CM7 7UN

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

SPS Dental Sales Limited

(Registration number: 04813508)
Balance Sheet as at 30 June 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

5

10,146

7,595

Current assets

 

Stocks

6

759,863

87,728

Debtors

7

195,765

549,951

Cash at bank and in hand

 

196,337

70,700

 

1,151,965

708,379

Creditors: Amounts falling due within one year

8

(976,317)

(569,920)

Net current assets

 

175,648

138,459

Total assets less current liabilities

 

185,794

146,054

Creditors: Amounts falling due after more than one year

8

(19,167)

(34,167)

Provisions for liabilities

(2,334)

(1,443)

Net assets

 

164,293

110,444

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

164,093

110,244

Shareholders' funds

 

164,293

110,444

For the financial period ended 30 June 2023 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 period 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. 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 Board on 6 February 2024 and signed on its behalf by:
 

C Knight
Director

K Knight
Company secretary and director

 
     
 

SPS Dental Sales Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, United Kingdom.

The principal place of business is: Unit 7 Bellcroft, Eastways Industrial Estate, Witham, Essex, CM8 3YU.

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 section 1A '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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

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 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Current Tax is recognised in the profit and loss account, 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

SPS Dental Sales Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 30 June 2023

Tangible assets

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

Depreciation

Depreciation is charged so as to write off the cost or valuation 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

25% Reducing Balance

Office equipment

33% Straight Line Basis and

15% Reducing Balance Method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. 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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

3 years Straight Line Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

 

SPS Dental Sales Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 30 June 2023

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.

Share capital

Ordinary shares are classified as equity.

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

The average number of persons employed by the company (including directors) during the period, was 0 (2021 - 0).

 

SPS Dental Sales Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 30 June 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2022

42,500

42,500

At 30 June 2023

42,500

42,500

Amortisation

At 1 January 2022

42,500

42,500

At 30 June 2023

42,500

42,500

Carrying amount

At 30 June 2023

-

-

At 31 December 2021

-

-

5

Tangible assets

Office equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2022

25,710

797

26,507

Additions

4,960

-

4,960

At 30 June 2023

30,670

797

31,467

Depreciation

At 1 January 2022

18,353

559

18,912

Charge for the period

2,320

89

2,409

At 30 June 2023

20,673

648

21,321

Carrying amount

At 30 June 2023

9,997

149

10,146

At 31 December 2021

7,357

238

7,595

6

Stocks

2023
£

2021
£

Work in progress

481,872

41,728

Stocks

277,991

46,000

759,863

87,728

 

SPS Dental Sales Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 30 June 2023

7

Debtors

Note

2023
£

2021
£

Trade debtors

 

195,138

376,549

Amounts owed by group undertakings

-

156,456

Amounts recoverable on contracts

 

-

16,317

Other debtors

 

-

78

Prepayments and accrued income

 

627

551

Total current trade and other debtors

 

195,765

549,951

8

Creditors

Creditors: amounts falling due within one year

Note

30 June 2023
 £

31 December 2021
 £

Due within one year

 

Loans and borrowing

10,000

10,000

Trade creditors

 

152,282

232,057

Amounts owed to group undertakings

91,453

-

Other creditors

 

722,582

327,863

 

976,317

569,920

Due after one year

 

Loans and borrowings

19,167

34,167

Creditors: amounts falling due after more than one year

Note

2023
£

2021
£

Due after one year

 

Loans and borrowings

19,167

34,167

 

SPS Dental Sales Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 30 June 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2021

 

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

100

100

100

100

 

200

200

200

200