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COMPANY REGISTRATION NUMBER: 09560865
HARRISON DENTAL LIMITED
Unaudited Financial Statements
31 March 2024
HARRISON DENTAL LIMITED
Financial Statements
Year ended 31 March 2024
Contents
Page
Director's report
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
6
HARRISON DENTAL LIMITED
Director's Report
Year ended 31 March 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2024 .
Director
The director who served the company during the year was as follows:
Mr E HARRISON
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 28 August 2024 and signed on behalf of the board by:
Mr E HARRISON
Director
HARRISON DENTAL LIMITED
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of HARRISON DENTAL LIMITED
Year ended 31 March 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 March 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
LONGDEN & COOK DENTAL ACCOUNTANCY PRACTICE Chartered accountants
113 UNION STREET OLDHAM OL1 1RU
28 August 2024
HARRISON DENTAL LIMITED
Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Turnover
308,230
389,508
Cost of sales
180,532
173,738
---------
---------
Gross profit
127,698
215,770
Administrative expenses
126,028
143,918
Other operating income
6,177
6,600
---------
---------
Operating profit
7,847
78,452
Other interest receivable and similar income
( 597)
( 4,365)
---------
---------
Profit before taxation
5
7,250
74,087
Tax on profit
1,378
15,407
-------
--------
Profit for the financial year and total comprehensive income
5,872
58,680
-------
--------
Dividends paid and payable
( 5,150)
( 37,100)
Retained earnings at the start of the year
21,848
268
--------
--------
Retained earnings at the end of the year
22,570
21,848
--------
--------
All the activities of the company are from continuing operations.
HARRISON DENTAL LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
16,400
15,408
Current assets
Stocks
1,530
1,530
Debtors
7
35,238
48,821
Cash at bank and in hand
10,341
16,784
--------
--------
47,109
67,135
Creditors: amounts falling due within one year
8
28,881
41,061
--------
--------
Net current assets
18,228
26,074
--------
--------
Total assets less current liabilities
34,628
41,482
Creditors: amounts falling due after more than one year
9
9,100
16,900
Provisions
Taxation including deferred tax
2,957
2,733
--------
--------
Net assets
22,571
21,849
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
22,570
21,848
--------
--------
Shareholders funds
22,571
21,849
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HARRISON DENTAL LIMITED
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr E HARRISON
Director
Company registration number: 09560865
HARRISON DENTAL LIMITED
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 113 Union Street, Oldham, Lancashire, OL1 1RU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Machinery
-
20% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
2,945
3,171
-------
-------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 April 2023
31,109
18,281
49,390
Additions
3,937
3,937
--------
--------
--------
At 31 March 2024
31,109
22,218
53,327
--------
--------
--------
Depreciation
At 1 April 2023
22,832
11,150
33,982
Charge for the year
1,655
1,290
2,945
--------
--------
--------
At 31 March 2024
24,487
12,440
36,927
--------
--------
--------
Carrying amount
At 31 March 2024
6,622
9,778
16,400
--------
--------
--------
At 31 March 2023
8,277
7,131
15,408
--------
--------
--------
7. Debtors
2024
2023
£
£
Other debtors
35,238
48,821
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,800
9,913
Trade creditors
18,633
16,930
Corporation tax
1,154
14,217
Social security and other taxes
511
Other creditors
783
1
--------
--------
28,881
41,061
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,100
16,900
-------
--------
10. Related party transactions
The company was under the control of Mr Harrison throughout the current period. Mr Harrison is the managing director and majority shareholder.