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REGISTERED NUMBER: SC358427















PEARL WHITE DENTAL LABORATORY LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 75,000 90,000
Tangible assets 5 175,192 166,735
250,192 256,735

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 6 158,152 141,415
Cash at bank 80,201 41,611
258,353 203,026
CREDITORS
Amounts falling due within one year 7 242,370 305,796
NET CURRENT ASSETS/(LIABILITIES) 15,983 (102,770 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,175

153,965

CREDITORS
Amounts falling due after more than one year 8 (54,611 ) (56,526 )

PROVISIONS FOR LIABILITIES (24,030 ) (13,657 )
NET ASSETS 187,534 83,782

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 187,531 83,779
187,534 83,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 December 2024 and were signed on its behalf by:





W L G Jackson - Director


PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)

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

1. STATUTORY INFORMATION

Pear White Dental Laboratory Ltd is a private company, limited by shares, registered in Scotland. The registered office is 1 Hogg Street, Airdrie, Scotland, ML6 9JH.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider that there are no such significant judgements.

Turnover
Turnover represents the invoiced cost of goods and services sold during the year, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods and services have been passed to the buyer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33.3% on cost, 25% on reducing balance, 25% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Stocks
Stocks are valued at lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items.

PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. 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.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)

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

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 150,000
AMORTISATION
At 1 April 2023 60,000
Charge for year 15,000
At 31 March 2024 75,000
NET BOOK VALUE
At 31 March 2024 75,000
At 31 March 2023 90,000

PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 295,839
Additions 57,802
Disposals (14,945 )
At 31 March 2024 338,696
DEPRECIATION
At 1 April 2023 129,104
Charge for year 39,775
Eliminated on disposal (5,375 )
At 31 March 2024 163,504
NET BOOK VALUE
At 31 March 2024 175,192
At 31 March 2023 166,735

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 128,348
Additions 51,512
Disposals (14,945 )
Transfer to ownership (14,400 )
At 31 March 2024 150,515
DEPRECIATION
At 1 April 2023 37,605
Charge for year 22,808
Eliminated on disposal (5,375 )
Transfer to ownership (8,695 )
At 31 March 2024 46,343
NET BOOK VALUE
At 31 March 2024 104,172
At 31 March 2023 90,743

PEARL WHITE DENTAL LABORATORY LTD (REGISTERED NUMBER: SC358427)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 157,733 141,315
Other debtors 419 100
158,152 141,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,162 9,911
Hire purchase contracts 24,762 19,411
Trade creditors 43,434 36,582
Taxation and social security 87,708 68,092
Other creditors 76,304 171,800
242,370 305,796

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 13,948 24,110
Hire purchase contracts 40,663 32,416
54,611 56,526

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 65,425 51,827

The hire purchase and finance lease liabilities are secured over the assets to which it relates.

10. RELATED PARTY DISCLOSURES

At the year end the directors were owed £49,592 (2023: £156,970). This loan is interest free and no repayment terms have been established.