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REGISTERED NUMBER: 06753258 (England and Wales)












Unaudited Financial Statements for the Year Ended 30 November 2023

for

Mercia Dental Equipment Limited

Mercia Dental Equipment Limited (Registered number: 06753258)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Mercia Dental Equipment Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: N Stevenson
Mrs L Stevenson





SECRETARY: Mrs L Stevenson





REGISTERED OFFICE: Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB





REGISTERED NUMBER: 06753258 (England and Wales)





ACCOUNTANTS: The Profit Key Limited
Prince William House
10 Lower Church Street
Ashby de la Zouch
Leicestershire
LE65 1AB

Mercia Dental Equipment Limited (Registered number: 06753258)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 143,683 121,541
143,683 121,541

CURRENT ASSETS
Stocks 6 51,614 71,590
Debtors 7 355,431 177,028
Cash at bank 140,352 185,679
547,397 434,297
CREDITORS
Amounts falling due within one year 8 360,834 235,332
NET CURRENT ASSETS 186,563 198,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

330,246

320,506

CREDITORS
Amounts falling due after more than one year 9 (15,677 ) (29,161 )

PROVISIONS FOR LIABILITIES (32,204 ) (23,093 )
NET ASSETS 282,365 268,252

CAPITAL AND RESERVES
Called up share capital 11 500 400
Retained earnings 281,865 267,852
SHAREHOLDERS' FUNDS 282,365 268,252

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Mercia Dental Equipment Limited (Registered number: 06753258)

Statement of Financial Position - continued
30 November 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 25 July 2024 and were signed on its behalf by:





N Stevenson - Director


Mercia Dental Equipment Limited (Registered number: 06753258)

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

1. STATUTORY INFORMATION

Mercia Dental Equipment Limited 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.

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
Turnover 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 2009, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks 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 statement of financial position date.


Mercia Dental Equipment Limited (Registered number: 06753258)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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 statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a 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.

Loans from directors
Any loans from the Director's to the company are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 200,000
AMORTISATION
At 1 December 2022
and 30 November 2023 200,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

Mercia Dental Equipment Limited (Registered number: 06753258)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 - 4,967 183,888 11,093 199,948
Additions 22,265 - 47,085 1,027 70,377
At 30 November 2023 22,265 4,967 230,973 12,120 270,325
DEPRECIATION
At 1 December 2022 - 4,388 64,947 9,072 78,407
Charge for year 5,566 147 41,507 1,015 48,235
At 30 November 2023 5,566 4,535 106,454 10,087 126,642
NET BOOK VALUE
At 30 November 2023 16,699 432 124,519 2,033 143,683
At 30 November 2022 - 579 118,941 2,021 121,541

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022 68,065
Transfer to ownership (51,437 )
At 30 November 2023 16,628
DEPRECIATION
At 1 December 2022 20,134
Charge for year 2,338
Transfer to ownership (12,859 )
At 30 November 2023 9,613
NET BOOK VALUE
At 30 November 2023 7,015
At 30 November 2022 47,931

6. STOCKS
2023 2022
£    £   
Stocks 51,614 71,590

Mercia Dental Equipment Limited (Registered number: 06753258)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 339,940 161,165
VAT - 6,756
Called up share capital not paid 500 400
Prepayments 14,991 8,707
355,431 177,028

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,255 10,132
Hire purchase contracts (see note 10) 3,536 6,869
Trade creditors 226,135 175,516
Tax 84,714 29,333
Social security and other taxes 1,074 981
VAT 23,817 -
Other creditors 263 601
Directors' current accounts 7,040 3,845
Accrued expenses 4,000 8,055
360,834 235,332

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,255 10,132
Bank loans - 2-5 years 5,127 15,198
Hire purchase contracts (see note 10) 295 3,831
15,677 29,161

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,536 6,869
Between one and five years 295 3,831
3,831 10,700

Mercia Dental Equipment Limited (Registered number: 06753258)

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

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 3,574 3,574
Between one and five years 3,574 12,808
In more than five years 5,659 -
12,807 16,382

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
300 Ordinary "A" - "C" £1 400 300
500 400