IRIS Accounts Production v24.2.0.383 00443223 Board of Directors 1.2.23 31.1.24 31.1.24 26.9.2024 false true false false true true true false Auditors Opinion Ordinary 1.00000 Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004432232023-01-31004432232024-01-31004432232023-02-012024-01-31004432232022-01-31004432232022-02-012023-01-31004432232023-01-3100443223ns15:EnglandWales2023-02-012024-01-3100443223ns14:PoundSterling2023-02-012024-01-3100443223ns10:Director12023-02-012024-01-3100443223ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3100443223ns10:SmallEntities2023-02-012024-01-3100443223ns10:Audited2023-02-012024-01-3100443223ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3100443223ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3100443223ns10:FullAccounts2023-02-012024-01-3100443223ns10:OrdinaryShareClass12023-02-012024-01-3100443223ns10:OrdinaryShareClass22023-02-012024-01-3100443223ns5:CurrentFinancialInstruments2024-01-3100443223ns5:CurrentFinancialInstruments2023-01-3100443223ns5:Non-currentFinancialInstruments2024-01-3100443223ns5:Non-currentFinancialInstruments2023-01-3100443223ns5:ShareCapital2024-01-3100443223ns5:ShareCapital2023-01-3100443223ns5:RetainedEarningsAccumulatedLosses2024-01-3100443223ns5:RetainedEarningsAccumulatedLosses2023-01-3100443223ns10:RegisteredOffice2023-02-012024-01-3100443223ns5:LeaseholdImprovements2023-02-012024-01-3100443223ns5:FurnitureFittings2023-02-012024-01-3100443223ns5:MotorVehicles2023-02-012024-01-3100443223ns5:LeaseholdImprovements2023-01-3100443223ns5:FurnitureFittings2023-01-3100443223ns5:MotorVehicles2023-01-3100443223ns5:LeaseholdImprovements2024-01-3100443223ns5:FurnitureFittings2024-01-3100443223ns5:MotorVehicles2024-01-3100443223ns5:LeaseholdImprovements2023-01-3100443223ns5:FurnitureFittings2023-01-3100443223ns5:MotorVehicles2023-01-3100443223ns5:CostValuation2023-01-3100443223ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3100443223ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3100443223ns5:WithinOneYear2024-01-3100443223ns5:WithinOneYear2023-01-3100443223ns5:BetweenOneFiveYears2024-01-3100443223ns5:BetweenOneFiveYears2023-01-3100443223ns5:AllPeriods2024-01-3100443223ns5:AllPeriods2023-01-3100443223ns10:OrdinaryShareClass12024-01-3100443223ns10:OrdinaryShareClass22024-01-3100443223ns5:RetainedEarningsAccumulatedLosses2023-01-3100443223ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-31
REGISTERED NUMBER: 00443223 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PLANMECA (UK) LIMITED

PLANMECA (UK) LIMITED (REGISTERED NUMBER: 00443223)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


PLANMECA (UK) LIMITED (REGISTERED NUMBER: 00443223)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,478 70,000
Investments 5 - -
51,478 70,000

CURRENT ASSETS
Stocks 1,000,699 927,890
Debtors 6 421,805 768,432
Cash at bank and in hand 564,789 342,519
1,987,293 2,038,841
CREDITORS
Amounts falling due within one year 7 11,892,366 12,110,893
NET CURRENT LIABILITIES (9,905,073 ) (10,072,052 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,853,595

)

(10,002,052

)

CREDITORS
Amounts falling due after more than one
year

8

286,319

295,159
NET LIABILITIES (10,139,914 ) (10,297,211 )

CAPITAL AND RESERVES
Called up share capital 11 5,081,505 5,081,505
Retained earnings 12 (15,221,419 ) (15,378,716 )
SHAREHOLDERS' FUNDS (10,139,914 ) (10,297,211 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





L O Broadhurst - Director


PLANMECA (UK) LIMITED (REGISTERED NUMBER: 00443223)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Planmeca (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00443223

Registered office: Unit 3 Oak Court
Pilgrims Walk
Prologis Park
Coventry
West Midlands
CV6 4QH

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounting policies set out below have, unless otherwise stated, been applied consistently throughout the reporting period.

Preparation of consolidated financial statements
The financial statements contain information about Planmeca (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Planvest Oy, Asentajankatu 6, SF-00810, Helsinki, Finland..

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires the Directors to make estimates and assumptions that affect the reported amounts of turnover, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If in the future such estimates and assumptions, which are based on the Directors' best judgement at the date of the financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the year in which the circumstances change.

Going concern
The directors have adopted the going concern basis of preparation for the financial statements based on forecasts, which they have prepared, which show that the company will continue to try and return to profitability in the foreseeable future. These forecasts assume that the company will continue to receive financial support from its parent company, Planmeca Oy for at least the next twelve months.

The financial statements do not include any adjustments that might be required if the application of the going concern basis proves to be inappropriate.

PLANMECA (UK) LIMITED (REGISTERED NUMBER: 00443223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover represents amounts receivable from the sale of dental and other healthcare products, provided in the UK and overseas net of trade discounts, VAT and other related taxes. Turnover is recognised on despatch.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the period of lease
Fixtures and fittings - 10% on reducing balance and at varying rates on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Invests in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks
Stocks, which relates to finished goods held ready for sale, are stated at the lower of costs and net realisable value. Cost is determined principally on the weighted average basis. Net realisable value is the price at which the stock can be realised in the normal course of business. Provision is made for obsolescent, slow moving and defective stocks.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. All the financial assets and liabilities are initially measured at transaction price and, where applicable, are subsequently measured at amortised cost. Financial assets and liabilities are only offset in the statement of financial position when, and only when, there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when, and only when; the contractual rights to the cash flows from the financial asset expire or are settled; the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

PLANMECA (UK) LIMITED (REGISTERED NUMBER: 00443223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 9,744 124,329 63,244 197,317
Additions - 7,095 - 7,095
Disposals - (49,089 ) - (49,089 )
At 31 January 2024 9,744 82,335 63,244 155,323
DEPRECIATION
At 1 February 2023 3,823 105,348 18,146 127,317
Charge for year 1,473 11,005 13,139 25,617
Eliminated on disposal - (49,089 ) - (49,089 )
At 31 January 2024 5,296 67,264 31,285 103,845
NET BOOK VALUE
At 31 January 2024 4,448 15,071 31,959 51,478
At 31 January 2023 5,921 18,981 45,098 70,000

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 2,104
PROVISIONS
At 1 February 2023
and 31 January 2024 2,104
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

PLANMECA (UK) LIMITED (REGISTERED NUMBER: 00443223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. FIXED ASSET INVESTMENTS - continued

This is represented by the holding of 100% of the ordinary share capital in the following dormant companies incorporated in England and Wales;

Alex Bell ( Dental Supplies) Limited
Claudius Ash Sons and Company Limited
Planmeca Limited, formerly J & S Davis Limited
Mouth Care Company Limited
Orthologic Limited

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 277,958 640,990
Other debtors 14,702 115
Prepayments and accrued income 129,145 127,327
421,805 768,432

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 49,030 22,125
Amounts owed to group undertakings 11,690,403 11,682,306
Corporation tax 290 -
Social security and other taxes 28,907 22,739
VAT 31,129 93,758
Accrued expenses 92,607 289,965
11,892,366 12,110,893

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 286,319 295,159

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 55,257 51,737
Between one and five years 73,590 98,063
128,847 149,800

PLANMECA (UK) LIMITED (REGISTERED NUMBER: 00443223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   

Nordea Bank Abp holds fixed and floating charge dated 03 March 2005 over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,100,102 Ordinary £1 1,100,102 1,100,102
3,981,403 Ordinary A £1 3,981,403 3,981,403
5,081,505 5,081,505

12. RESERVES
Retained
earnings
£   

At 1 February 2023 (15,378,716 )
Profit for the year 157,297
At 31 January 2024 (15,221,419 )

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Muhammed Shabbir ACA, FCCA (Senior Statutory Auditor)
for and on behalf of Armstrongs Accountancy Ltd

14. ULTIMATE CONTROLLING PARTY

Planmeca Oy is the immediate parent company of Planmeca (UK) Limited.

Planvest Oy, incorporated in Finland, is regarded by the directors as being the ultimate parent company. Planvest Oy prepares consolidated accounts which include the results of Planmeca (UK) Limited. Copies of these accounts are available from the parent undertaking at their head office at Asentajankatu 6, SF-00810, Helsinki, Finland.