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Registered number: 08318277
Elite Dental Restorations Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Misselbrooks Ltd
Alva House
Valley Drive
Gravesend
Kent
DA12 5UE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08318277
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 30,300 45,450
Tangible Assets 5 39,961 43,546
70,261 88,996
CURRENT ASSETS
Stocks 6 24,700 17,500
Debtors 7 253,254 240,441
Cash at bank and in hand 30,689 30,270
308,643 288,211
Creditors: Amounts Falling Due Within One Year 8 (147,979 ) (136,221 )
NET CURRENT ASSETS (LIABILITIES) 160,664 151,990
TOTAL ASSETS LESS CURRENT LIABILITIES 230,925 240,986
Creditors: Amounts Falling Due After More Than One Year 9 (22,500 ) (33,438 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,675 ) (1,838 )
NET ASSETS 206,750 205,710
CAPITAL AND RESERVES
Called up share capital 11 30 30
Profit and Loss Account 206,720 205,680
SHAREHOLDERS' FUNDS 206,750 205,710
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For the year ending 28 February 2024 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 Cyrous Loghmani
Director
Mr Kevin Morris
Director
01/10/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Elite Dental Restorations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08318277 . The registered office is Misselbrooks Alva House, Valley Drive, Gravesend, DA12 5UE.
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 .... 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:
Plant & Machinery 15% straight line basis
Motor Vehicles 25% Reducing balance basis
Fixtures & Fittings 10% Straight line basis
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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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 9)
9 9
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4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 180,000
As at 28 February 2024 180,000
Amortisation
As at 1 March 2023 134,550
Provided during the period 15,150
As at 28 February 2024 149,700
Net Book Value
As at 28 February 2024 30,300
As at 1 March 2023 45,450
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 116,068 41,134 540 157,742
Additions 3,194 - - 3,194
As at 28 February 2024 119,262 41,134 540 160,936
Depreciation
As at 1 March 2023 93,798 20,074 324 114,196
Provided during the period 1,460 5,265 54 6,779
As at 28 February 2024 95,258 25,339 378 120,975
Net Book Value
As at 28 February 2024 24,004 15,795 162 39,961
As at 1 March 2023 22,270 21,060 216 43,546
6. Stocks
2024 2023
£ £
Materials 24,700 17,500
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 84,902 84,444
Other debtors 168,352 155,997
253,254 240,441
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,118 6,709
Trade creditors 32,424 18,727
Bank loans and overdrafts 9,662 18,253
Other creditors 67,296 64,685
Taxation and social security 37,479 27,847
147,979 136,221
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,118
Bank loans 22,500 32,320
22,500 33,438
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,118 6,709
Later than one year and not later than five years - 1,118
1,118 7,827
1,118 7,827
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30 30
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12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 75,000 80,000
13. Related Party Transactions
At the year end, Mr K Morris, a director, was owed £13,578 (2023 - £12,050) by the company.
At the year end, Mr C Loghmani, a director, was owed £25,726.47 (2023 - £24,405) by the company.
As at the year end, the company was owed £3,667(2023 - £3665) by Elite Dental Holdings Ltd (the parent company), as well as £157,151 (2023 - £146,151) owed from Elite dental Properties Ltd (a fellow subsidiary company). The balances are included within debtors.
As at the year end, the company owed £19,735 (2023 - £19,735) to EDR Digital Ltd (a fellow subsidiary company). The balance is included within creditors.
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