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Registered number: 8667213
BROADGATE DENTAL LABORATORY LIMITED
Unaudited Financial Statements
For The Year Ended 31 August 2024
FOSDYKE ACCOUNTANCY SERVICES LIMITED
THE OLD VICARAGE
1 BELL LANE
FOSDYKE BOSTON
LINCS
PE20 2BS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8667213
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 774,855 785,616
774,855 785,616
CURRENT ASSETS
Stocks 5 8,775 8,975
Debtors 6 81,145 69,153
Cash at bank and in hand 301,830 151,664
391,750 229,792
Creditors: Amounts Falling Due Within One Year 7 (76,432 ) (64,934 )
NET CURRENT ASSETS (LIABILITIES) 315,318 164,858
TOTAL ASSETS LESS CURRENT LIABILITIES 1,090,173 950,474
NET ASSETS 1,090,173 950,474
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,090,073 950,374
SHAREHOLDERS' FUNDS 1,090,173 950,474
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Page 2
For the year ending 31 August 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 DAVID KILLICK
Director
05/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
BROADGATE DENTAL LABORATORY LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 8667213 . The registered office is 41 BROADGATE, LINCOLN, LINCS, LN2 5AQ.
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. 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:
Freehold 0%
Plant & Machinery 15/25%
2.4. 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.
2.5. 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 year 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 asset reflects 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 September 2023 735,031 184,753 919,784
Additions - 769 769
As at 31 August 2024 735,031 185,522 920,553
Depreciation
As at 1 September 2023 - 134,168 134,168
Provided during the period - 11,530 11,530
As at 31 August 2024 - 145,698 145,698
Net Book Value
As at 31 August 2024 735,031 39,824 774,855
As at 1 September 2023 735,031 50,585 785,616
5. Stocks
2024 2023
£ £
Stock 8,775 -
Materials - 8,975
8,775 8,975
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 78,368 67,477
Other debtors 2,777 1,676
81,145 69,153
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,481 10,000
Corporation tax 61,675 45,343
Other creditors 7,276 9,591
76,432 64,934
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 37,752 106,912
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