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COMPANY REGISTRATION NUMBER: SC252385
DENTURAMICS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
DENTURAMICS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Page
Officers and professional advisers
1
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
DENTURAMICS LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mr. C Shepherd
Company secretary
Mrs. A. Shepherd
Registered office
26-30 Marine Place
Buckie
Moray
AB56 1UT
Accountants
Ritsons
Chartered Accountants
26-30 Marine Place
Buckie
Moray
AB56 1UT
DENTURAMICS LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DENTURAMICS LIMITED
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 financial statements of Denturamics Limited for the year ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Denturamics Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Denturamics Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Denturamics Limited and its director for our work or for this report.
It is your duty to ensure that Denturamics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Denturamics Limited. You consider that Denturamics Limited 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 financial statements of Denturamics Limited. 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 financial statements.
Ritsons Chartered Accountants
26-30 Marine Place Buckie Moray AB56 1UT
25 September 2024
DENTURAMICS LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
6
34,456
45,119
CURRENT ASSETS
Stocks
6,550
9,050
Debtors
7
37,288
33,468
Cash at bank and in hand
688
7,558
--------
--------
44,526
50,076
CREDITORS: amounts falling due within one year
8
45,239
42,095
--------
--------
NET CURRENT (LIABILITIES)/ASSETS
( 713)
7,981
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
33,743
53,100
CREDITORS: amounts falling due after more than one year
9
14,933
24,825
PROVISIONS
6,903
6,947
--------
--------
NET ASSETS
11,907
21,328
--------
--------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
11,905
21,326
--------
--------
SHAREHOLDERS FUNDS
11,907
21,328
--------
--------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the 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.
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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DENTURAMICS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr. C Shepherd
Director
Company registration number: SC252385
DENTURAMICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 26-30 Marine Place, Buckie, Moray, AB56 1UT.
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.
Turnover
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.
Taxation
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost less depreciation and impairment.
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:
Freehold property
-
10% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
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.
Defined contribution plans
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2022: 7 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
25,000
--------
Amortisation
At 1 January 2023 and 31 December 2023
25,000
--------
Carrying amount
At 31 December 2023
--------
At 31 December 2022
--------
6. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
17,112
104,772
13,766
9,278
144,928
Additions
251
251
--------
---------
--------
-------
---------
At 31 December 2023
17,112
105,023
13,766
9,278
145,179
--------
---------
--------
-------
---------
Depreciation
At 1 January 2023
8,555
75,650
8,527
7,077
99,809
Charge for the year
1,711
7,343
1,310
550
10,914
--------
---------
--------
-------
---------
At 31 December 2023
10,266
82,993
9,837
7,627
110,723
--------
---------
--------
-------
---------
Carrying amount
At 31 December 2023
6,846
22,030
3,929
1,651
34,456
--------
---------
--------
-------
---------
At 31 December 2022
8,557
29,122
5,239
2,201
45,119
--------
---------
--------
-------
---------
7. Debtors
2023
2022
£
£
Trade debtors
22,757
21,359
Other debtors
14,531
12,109
--------
--------
37,288
33,468
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
15,658
16,865
Trade creditors
24,090
20,471
Corporation tax
2,769
2,178
Social security and other taxes
1,222
1,081
Other creditors
1,500
1,500
--------
--------
45,239
42,095
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,933
24,825
--------
--------
10. Director's advances, credits and guarantees
At 31 December 2023 the director owed the company £10,936 (2022: £9,126) by way of a directors' loan account.
11. Related party transactions
Dividends of £8,000 (2022: £8,000) were paid to the directors during the year.