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Registration number: 03891771

Dentalserve.net Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2023

 

Dentalserve.net Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 14

 

Dentalserve.net Ltd

Company Information

Directors

K D K Photay

S S Photay

N A Blackstock

D A Photay

D S Hands

M L Photay

N L Photay

Company secretary

D A Photay

Registered office

1 Overcliffe
Gravesend
Kent
DA11 0EF

Accountants

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

 

Dentalserve.net Ltd

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the abridged financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

K D K Photay

S S Photay

N A Blackstock

D A Photay - Company secretary and director

D S Hands

M L Photay

N L Photay

Principal activity

The principal activity of the company is Continued to be the provision of dental laboratory services to dentists and software development for dental laboratories. The company's income is derived from its crown & bridge activities, prosthetics service and, to a smaller extent, from artwork, equipment installation and maintenance and the provision of dentistry services.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 4 March 2024 and signed on its behalf by:
 

.........................................
M L Photay
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dentalserve.net Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dentalserve.net Ltd for the year ended 31 December 2023 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Dentalserve.net Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dentalserve.net Ltd and state those matters that we have agreed to state to the Board of Directors of Dentalserve.net Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dentalserve.net Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dentalserve.net Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dentalserve.net Ltd . You consider that Dentalserve.net Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Dentalserve.net Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

4 March 2024

 

Dentalserve.net Ltd

Abridged Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Gross profit

 

1,778,813

1,707,406

Administrative expenses

 

(1,813,045)

(1,740,731)

Other interest receivable and similar income

 

10

4

Interest payable and similar expenses

 

(17,193)

(9,112)

Loss before tax

4

(51,415)

(42,433)

Tax on loss

 

55,244

14,164

Profit/(loss) for the financial year

 

3,829

(28,269)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Dentalserve.net Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit/(loss) for the year

3,829

(28,269)

Total comprehensive income for the year

3,829

(28,269)

 

Dentalserve.net Ltd

(Registration number: 03891771)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

5

430,835

463,470

Current assets

 

Stocks

6

40,000

38,500

Debtors

7

732,331

673,670

Cash at bank and in hand

 

43,035

18,298

 

815,366

730,468

Prepayments and accrued income

 

14,553

13,295

Creditors: Amounts falling due within one year

(724,791)

(621,750)

Net current assets

 

105,128

122,013

Total assets less current liabilities

 

535,963

585,483

Creditors: Amounts falling due after more than one year

(39,529)

(70,490)

Provisions for liabilities

(25,736)

(7,324)

Accruals and deferred income

 

(3,000)

(3,800)

Net assets

 

467,698

503,869

Capital and reserves

 

Called up share capital

8

58,200

58,200

Retained earnings

409,498

445,669

Shareholders' funds

 

467,698

503,869

For the financial year ending 31 December 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 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Dentalserve.net Ltd

(Registration number: 03891771)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 4 March 2024 and signed on its behalf by:
 

.........................................
M L Photay
Director

 

Dentalserve.net Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

58,200

445,669

503,869

Profit for the year

-

3,829

3,829

Dividends

-

(40,000)

(40,000)

At 31 December 2023

58,200

409,498

467,698

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

58,200

481,877

540,077

Loss for the year

-

(28,269)

(28,269)

Dividends

-

(7,939)

(7,939)

At 31 December 2022

58,200

445,669

503,869

 

Dentalserve.net Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
1 Overcliffe
Gravesend
Kent
DA11 0EF

These financial statements were authorised for issue by the Board on 4 March 2024.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
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 and deferred 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.

 

Dentalserve.net Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible 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

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:

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.

Stocks

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.

 

Dentalserve.net Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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.

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.

Leases

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.

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.

 

Dentalserve.net Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2022 - 42).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

32,635

36,356

5

Tangible Assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

269,827

9,000

485,649

764,476

At 31 December 2023

269,827

9,000

485,649

764,476

Depreciation

At 1 January 2023

-

2,250

298,756

301,006

Charge for the year

-

1,688

30,947

32,635

At 31 December 2023

-

3,938

329,703

333,641

Carrying amount

At 31 December 2023

269,827

5,062

155,946

430,835

At 31 December 2022

269,827

6,750

186,893

463,470

Included within the net book value of land and buildings above is £269,827 (2022 - £269,827) in respect of freehold land and buildings.
 

 

Dentalserve.net Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

40,000

38,500

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

58,200

58,200

58,200

58,200

         

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of 0.687 (2022 - 0.136) per each Ordinary shares

 

40,000

 

7,939

         

10

Related party transactions

 

Dentalserve.net Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

166,016

181,031

11

Parent and ultimate parent undertaking

The ultimate controlling party is D Photay & M Photay.