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Registered number: 08270327
Hughes Dental Laboratory Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08270327
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 58,621 54,530
58,621 54,530
CURRENT ASSETS
Stocks 6 10,000 24,500
Debtors 7 72,405 63,666
Cash at bank and in hand 150,790 102,418
233,195 190,584
Creditors: Amounts Falling Due Within One Year 8 (158,917 ) (141,635 )
NET CURRENT ASSETS (LIABILITIES) 74,278 48,949
TOTAL ASSETS LESS CURRENT LIABILITIES 132,899 103,479
Creditors: Amounts Falling Due After More Than One Year 9 (15,000 ) (25,000 )
NET ASSETS 117,899 78,479
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 117,799 78,379
SHAREHOLDERS' FUNDS 117,899 78,479
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jonathan Hughes
Director
5 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hughes Dental Laboratory Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08270327 . The registered office is 2 Mount Parade, Harrogate, HG1 1BX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 20% reducing balance method
Motor Vehicles 25%/15% reduction balance method
Fixtures & Fittings 33.33% straight line method
Computer Equipment 33.33% straight line method
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 9)
10 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 50,000
As at 30 November 2023 50,000
Amortisation
As at 1 December 2022 50,000
As at 30 November 2023 50,000
Net Book Value
As at 30 November 2023 -
As at 1 December 2022 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 89,589 83,099 - 172,688
Additions 7,867 18,971 - 26,838
Disposals - (7,599 ) - (7,599 )
As at 30 November 2023 97,456 94,471 - 191,927
Depreciation
As at 1 December 2022 65,098 53,060 - 118,158
Provided during the period 8,090 11,451 - 19,541
Disposals - (4,393 ) - (4,393 )
As at 30 November 2023 73,188 60,118 - 133,306
Net Book Value
As at 30 November 2023 24,268 34,353 - 58,621
As at 1 December 2022 24,491 30,039 - 54,530
6. Stocks
2023 2022
£ £
Stock 7,500 17,500
Work in progress 2,500 7,000
10,000 24,500
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 70,844 61,528
Prepayments and accrued income 1,561 2,138
72,405 63,666
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 389
Trade creditors 15,467 16,864
Bank loans and overdrafts 10,000 10,000
Corporation tax 29,985 40,627
Other taxes and social security 2,103 2,259
Other creditors 430 -
Accruals and deferred income 4,006 5,780
Directors' loan accounts 96,926 65,716
158,917 141,635
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 15,000 25,000
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 389
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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