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REGISTERED NUMBER: 06708798 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DMG DENTAL PRODUCTS (UK) LIMITED

DMG DENTAL PRODUCTS (UK) LIMITED (REGISTERED NUMBER: 06708798)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DMG DENTAL PRODUCTS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Ms C Englich





REGISTERED OFFICE: 830 Birchwood Boulevard
Birchwood
Warrington
Cheshire
WA3 7QZ





REGISTERED NUMBER: 06708798 (England and Wales)





ACCOUNTANTS: Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL

DMG DENTAL PRODUCTS (UK) LIMITED (REGISTERED NUMBER: 06708798)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,788 -
Tangible assets 5 19,331 21,366
38,119 21,366

CURRENT ASSETS
Stocks 279,098 320,581
Debtors 6 182,140 193,945
Cash at bank 80,692 96,843
541,930 611,369
CREDITORS
Amounts falling due within one year 7 1,708,002 1,369,694
NET CURRENT LIABILITIES (1,166,072 ) (758,325 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,127,953

)

(736,959

)

CREDITORS
Amounts falling due after more than one
year

8

-

243,164
NET LIABILITIES (1,127,953 ) (980,123 )

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Other reserves 544,000 -
Retained earnings (1,701,953 ) (1,010,123 )
(1,127,953 ) (980,123 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DMG DENTAL PRODUCTS (UK) LIMITED (REGISTERED NUMBER: 06708798)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 16 April 2024 and were signed by:





Ms C Englich - Director


DMG DENTAL PRODUCTS (UK) LIMITED (REGISTERED NUMBER: 06708798)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

DMG Dental Products (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

DMG DENTAL PRODUCTS (UK) LIMITED (REGISTERED NUMBER: 06708798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
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.

Going concern
During the financial year, the company has incurred a net loss of £691,830, and at the year end, had retained losses of £1,701,953. The company is reliant on the support of its parent company Mühlbauer Technology GmbH to continue trading, and Mühlbauer Technology GmbH has expressed its intention to continue to support DMG Dental Products (UK)Ltd., for the foreseeable future, and for at least 12 months following the approval of these financial statements. Consequently, the director has elected to prepare these accounts on a going concern basis. Without the support of the parent company, DMG Dental Products (UK) Ltd would have significant difficulties in continuing as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 23,487
At 31 December 2023 23,487
AMORTISATION
Charge for year 4,699
At 31 December 2023 4,699
NET BOOK VALUE
At 31 December 2023 18,788

DMG DENTAL PRODUCTS (UK) LIMITED (REGISTERED NUMBER: 06708798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 51,490
Additions 4,409
At 31 December 2023 55,899
DEPRECIATION
At 1 January 2023 30,124
Charge for year 6,444
At 31 December 2023 36,568
NET BOOK VALUE
At 31 December 2023 19,331
At 31 December 2022 21,366

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 161,158 193,404
Other debtors 20,982 541
182,140 193,945

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 27,873 -
Amounts owed to group undertakings 1,445,600 1,266,889
Taxation and social security 124,115 95,719
Other creditors 110,414 7,086
1,708,002 1,369,694

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 243,164

DMG DENTAL PRODUCTS (UK) LIMITED (REGISTERED NUMBER: 06708798)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 68,125 68,125
Between one and five years 90,834 136,250
158,959 204,375

10. PROVISIONS FOR LIABILITIES
Other
provisions
£   
Provided during year 69,359
Balance at 31 December 2023 69,359

Provision has been made in these financial statements for costs relating to a legal case that arose prior to the end of the accounting period.

The company is challenging this case.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mühlbauer Technology GmbH.

12. GOING CONCERN

During the year, the company has incurred further losses, and at the year end, the balance sheet is insolvent. These accounts have been prepared on a going concern basis, as the parent company Mühlbauer Technology GmbH has indicated its willingness to continue to support DMG Dental Products (UK) Ltd.