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Registered number: 07615554









PRESTIGE DENTAL STUDIO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
PRESTIGE DENTAL STUDIO LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 8


 
PRESTIGE DENTAL STUDIO LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PRESTIGE DENTAL STUDIO LIMITED
FOR THE YEAR ENDED 31 MAY 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 Prestige Dental Studio Limited for the year ended 31 May 2024 which comprise  the Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Prestige Dental Studio Limited, as a body, in accordance with the terms of our engagement letter dated 30 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of Prestige Dental Studio Limited and state those matters that we have agreed to state to the Board of Directors of Prestige Dental Studio Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Prestige Dental Studio Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Prestige Dental Studio 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 profit of Prestige Dental Studio Limited. You consider that Prestige Dental Studio Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Prestige Dental Studio 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
23 October 2024
Page 1

 
PRESTIGE DENTAL STUDIO LIMITED
REGISTERED NUMBER: 07615554

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,421
10,587

  
9,421
10,587

Current assets
  

Stocks
  
22,343
23,321

Debtors: amounts falling due within one year
 5 
92,349
79,280

Cash at bank and in hand
  
6,391
24,178

  
121,083
126,779

Creditors: amounts falling due within one year
 6 
(42,535)
(38,060)

Net current assets
  
 
 
78,548
 
 
88,719

Total assets less current liabilities
  
87,969
99,306

Provisions for liabilities
  

Deferred tax
  
(2,167)
(2,435)

  
 
 
(2,167)
 
 
(2,435)

Net assets
  
85,802
96,871


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
85,800
96,869

  
85,802
96,871


Page 2

 
PRESTIGE DENTAL STUDIO LIMITED
REGISTERED NUMBER: 07615554
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 October 2024.




Mr N Rounce
Mrs I Rounce
Director
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
PRESTIGE DENTAL STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

The company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office and trading address is Unit J Little Money Road, Loddon Industrial Estate, Norwich, Norfolk, NR14 6JD.
The company's principal activity is the production and supply of custom made medical devices. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principle accounting policies adopted in the preparation of the financial statements are set out below, remain unchanged from the previous year and have been consistently applied within the same accounts. 

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of the production and supply of custom made medical devices. Turnover is recognised on an accruals basis and upon delivery.
Turnover is recognised to the extent that it is probable that economic benefits will flow to the company and turnover can be reliably measured.

 
2.3

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but 
not reversed by the balance sheet date. 
Current and deferred tax is determined using tax rates and laws that have been enacted or 
substantively enacted by the balance sheet date. 

Page 4

 
PRESTIGE DENTAL STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
20%
 reducing balance
Fixtures & fittings
-
15%
 reducing balance
Office equipment
-
25%
 reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition. 

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


Page 5

 
PRESTIGE DENTAL STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
23,110
2,669
4,074
29,853


Additions
1,200
-
-
1,200


Disposals
-
-
(121)
(121)



At 31 May 2024

24,310
2,669
3,953
30,932



Depreciation


At 1 June 2023
15,453
918
2,895
19,266


Charge for the year on owned assets
1,771
263
282
2,316


Disposals
-
-
(71)
(71)



At 31 May 2024

17,224
1,181
3,106
21,511



Net book value



At 31 May 2024
7,086
1,488
847
9,421



At 31 May 2023
7,657
1,751
1,179
10,587

Page 6

 
PRESTIGE DENTAL STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
57,402
41,868

Other debtors
33,650
36,485

Prepayments and accrued income
1,297
927

92,349
79,280



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,808
8,366

Other taxation and social security
28,002
23,478

Other creditors
2,615
2,952

Accruals and deferred income
4,110
3,264

42,535
38,060



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary A share of £1.00
1
1
1 Ordinary B share of £1.00
1
1

2

2



8.


Pension commitments

Contributions totalling £nil (2023: £676) were payable to the fund at the balance sheet date and are included in creditors. 


9.Commitments, guarantees and contingencies

The company had total financial commitments, guarantees and contingencies which are not included in the balance sheet amounting to £83,980 (2023: £42,368).

Page 7

 
PRESTIGE DENTAL STUDIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Transactions with directors

As at 31 May 2024, the company owed the directors £1,937 (2023: £1,625). This loan is included in other creditors in note 6 to the financial statements. The loan is interest free and is repayable on demand. 

 
Page 8