Company Registration No. 08217340 (England and Wales)
Metadent (UK) Ltd
Unaudited accounts
for the year ended 30 September 2023
Metadent (UK) Ltd
Unaudited accounts
Contents
Metadent (UK) Ltd
Company Information
for the year ended 30 September 2023
Directors
Dr A DeVivo
Ms M DeVivo
Company Number
08217340 (England and Wales)
Registered Office
15 QUEEN STREET
KINGS HILL
WEST MALLING
ME19 4DA
ENGLAND
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Metadent (UK) Ltd
Statement of financial position
as at 30 September 2023
Intangible assets
756,567
757,950
Tangible assets
58,589
78,378
Cash at bank and in hand
5,980
1,578
Creditors: amounts falling due within one year
(440,486)
(309,108)
Net current assets
20,708
64,556
Total assets less current liabilities
835,864
900,884
Creditors: amounts falling due after more than one year
(414,594)
(501,199)
Provisions for liabilities
Deferred tax
(11,716)
(1,851)
Net assets
409,554
397,834
Called up share capital
3
3
Fair value reserve
504,000
504,000
Profit and loss account
(94,449)
(106,169)
Shareholders' funds
409,554
397,834
For the year ending 30 September 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by
Dr A DeVivo
Director
Company Registration No. 08217340
Metadent (UK) Ltd
Notes to the Accounts
for the year ended 30 September 2023
Metadent (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 08217340. The registered office is 15 QUEEN STREET, KINGS HILL, WEST MALLING, ME19 4DA, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Metadent (UK) Ltd
Notes to the Accounts
for the year ended 30 September 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Intangible fixed assets
Goodwill
Other
Total
At 1 October 2022
914,000
13,828
927,828
At 30 September 2023
914,000
13,828
927,828
At 1 October 2022
164,000
5,878
169,878
Charge for the year
-
1,383
1,383
At 30 September 2023
164,000
7,261
171,261
At 30 September 2023
750,000
6,567
756,567
At 30 September 2022
750,000
7,950
757,950
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2022
165,951
2,532
13,581
182,064
Additions
1,765
-
1,015
2,780
At 30 September 2023
167,716
2,532
14,596
184,844
At 1 October 2022
92,820
2,027
8,839
103,686
Charge for the year
18,724
505
3,340
22,569
At 30 September 2023
111,544
2,532
12,179
126,255
At 30 September 2023
56,172
-
2,417
58,589
At 30 September 2022
73,131
505
4,742
78,378
Metadent (UK) Ltd
Notes to the Accounts
for the year ended 30 September 2023
Amounts falling due within one year
Other debtors
444,413
361,285
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
221,064
118,540
Obligations under finance leases and hire purchase contracts
47,029
73,437
Taxes and social security
136,856
95,435
Other creditors
14,337
496
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
350,913
391,489
Obligations under finance leases and hire purchase contracts
63,681
109,710
9
Deferred taxation
2023
2022
Accelerated capital allowances
11,716
1,851
Provision at start of year
1,851
1,851
Charged to the profit and loss account
9,865
-
Provision at end of year
11,716
1,851
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans to Director
300,573
83,127
-
383,700
Metadent (UK) Ltd
Notes to the Accounts
for the year ended 30 September 2023
12
Transactions with related parties
As At 30/09/2023, Metadent UK Ltd Owes £83,032 to Implant Solutions Ltd
13
Average number of employees
During the year the average number of employees was 7 (2022: 7).