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REGISTERED NUMBER: SC536058 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Vision Dental Laboratory Ltd

Vision Dental Laboratory Ltd (Registered number: SC536058)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vision Dental Laboratory Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: W G Flack
Mrs G Flack
R R Snook
Mrs C Snook





REGISTERED OFFICE: Sydenham Cottage
Edinburgh Road
Kelso
Roxburghshire
TD5 7EN





REGISTERED NUMBER: SC536058 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Vision Dental Laboratory Ltd (Registered number: SC536058)

Balance Sheet
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,000 20,000
Property, plant and equipment 5 359,110 361,978
375,110 381,978

CURRENT ASSETS
Inventories 4,000 4,000
Debtors 6 139,678 163,280
Cash at bank 268,887 251,569
412,565 418,849
CREDITORS
Amounts falling due within one year 7 297,945 382,052
NET CURRENT ASSETS 114,620 36,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

489,730

418,775

CREDITORS
Amounts falling due after more than one
year

8

(146,559

)

(179,462

)

PROVISIONS FOR LIABILITIES (50,500 ) (53,500 )
NET ASSETS 292,671 185,813

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 292,571 185,713
SHAREHOLDERS' FUNDS 292,671 185,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Vision Dental Laboratory Ltd (Registered number: SC536058)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





R R Snook - Director


Vision Dental Laboratory Ltd (Registered number: SC536058)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Vision Dental Laboratory Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Vision Dental Laboratory Ltd (Registered number: SC536058)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 40,000
AMORTISATION
At 1 June 2022 20,000
Charge for year 4,000
At 31 May 2023 24,000
NET BOOK VALUE
At 31 May 2023 16,000
At 31 May 2022 20,000

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 133,355 475,800 609,155
Additions - 80,220 80,220
Disposals - (35,000 ) (35,000 )
At 31 May 2023 133,355 521,020 654,375
DEPRECIATION
At 1 June 2022 - 247,177 247,177
Charge for year - 51,468 51,468
Eliminated on disposal - (3,380 ) (3,380 )
At 31 May 2023 - 295,265 295,265
NET BOOK VALUE
At 31 May 2023 133,355 225,755 359,110
At 31 May 2022 133,355 228,623 361,978

Vision Dental Laboratory Ltd (Registered number: SC536058)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 128,815 158,435
Other debtors 10,863 4,845
139,678 163,280

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 29,372 30,607
Hire purchase contracts 3,222 6,563
Trade creditors 44,410 37,528
Taxation and social security 44,806 75,773
Other creditors 176,135 231,581
297,945 382,052

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans 145,602 175,282
Hire purchase contracts 957 4,180
146,559 179,462