Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsedental prosthetics2023-05-0122truetruefalse 04410115 2023-05-01 2024-04-30 04410115 2022-05-01 2023-04-30 04410115 2024-04-30 04410115 2023-04-30 04410115 c:Director1 2023-05-01 2024-04-30 04410115 d:OfficeEquipment 2023-05-01 2024-04-30 04410115 d:OfficeEquipment 2024-04-30 04410115 d:OfficeEquipment 2023-04-30 04410115 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04410115 d:CurrentFinancialInstruments 2024-04-30 04410115 d:CurrentFinancialInstruments 2023-04-30 04410115 d:Non-currentFinancialInstruments 2024-04-30 04410115 d:Non-currentFinancialInstruments 2023-04-30 04410115 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04410115 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04410115 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 04410115 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04410115 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 04410115 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 04410115 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 04410115 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 04410115 d:ShareCapital 2024-04-30 04410115 d:ShareCapital 2023-04-30 04410115 d:RetainedEarningsAccumulatedLosses 2024-04-30 04410115 d:RetainedEarningsAccumulatedLosses 2023-04-30 04410115 c:FRS102 2023-05-01 2024-04-30 04410115 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04410115 c:FullAccounts 2023-05-01 2024-04-30 04410115 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04410115 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 04410115





 
L. Holmes Dental Laboratory Ltd          
 
Financial statements          

For the year ended 30 April 2024          

 
L. Holmes Dental Laboratory Ltd
Registered number:04410115

Balance sheet
As at 30 April 2024


2024

2023
                                                                                   Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,183
1,399

Current assets
  

Stock
  
2,900
3,500

Debtors
 5 
18,387
20,126

Bank and cash
  
5,111
20,720

  
26,398
44,346

Creditors: amounts falling due within one year
 6 
(14,169)
(21,523)

Net current assets
  
 
 
12,229
 
 
22,823

Total assets less current liabilities
  
13,412
24,222

Creditors: amounts falling due after more than one year
 7 
(13,240)
(12,020)

  

Net assets
  
172
12,202


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
72
12,102

  
172
12,202


The director considers 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 director acknowledges his 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 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 22 November 2024.


L Holmes
Director

The notes on pages 2 to 7 form part of these financial statements.
Page 1

 
L. Holmes Dental Laboratory Ltd
 
 
Notes to the financial statements
For the year ended 30 April 2024

1.


General information

L. Holmes Dental Laboratory Ltd is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ and its principal place of business is Unit 6 Riverside Industrial Estate, South Street, Rochford, SS4 1BS.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

Page 2

 
L. Holmes Dental Laboratory Ltd
 
 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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 at the following rate:

Furniture, fittings and 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.

 
2.4

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

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.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 3

 
L. Holmes Dental Laboratory Ltd
 
 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Page 4

 
L. Holmes Dental Laboratory Ltd
 
 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

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.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

2024
2023
£
£

Wages and salaries
17,940
17,940


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
L. Holmes Dental Laboratory Ltd
 
 
Notes to the financial statements
For the year ended 30 April 2024

4.


Tangible fixed assets





Furniture, fittings and equipment

£



Cost 


At 1 May 2023
8,895


Additions
155



At 30 April 2024

9,050



Depreciation


At 1 May 2023
7,496


Charge for the year
371



At 30 April 2024

7,867



Net book value



At 30 April 2024
1,183



At 30 April 2023
1,399


5.


Debtors

2024
2023
£
£


Trade debtors
7,790
6,200

Other debtors
7,918
10,684

Prepayments and accrued income
2,679
3,242

18,387
20,126


Included within other debtors due within one year is a loan to L Holmes, the sole director, amounting to £7,919 (2023 - £10,684), the maximum outstanding amount on this loan during the year was £34,919. Interest has been charged at 2.25% on this loan.

Page 6

 
L. Holmes Dental Laboratory Ltd
 
 
Notes to the financial statements
For the year ended 30 April 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,326
5,750

Trade creditors
80
334

Corporation tax
9,747
13,519

Accruals and deferred income
2,016
1,920

14,169
21,523



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,240
12,020



8.


Loans


Analysis of the maturity of loan is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,326
5,750

Amounts falling due 1-2 years

Bank loans
2,397
5,924

Amounts falling due 2-5 years

Bank loans
10,844
6,096


15,567
17,770


The bank loan is repayable by monthly instalments over a 72 month period. The interest rate applicable on the loan is a fixed rate of 2.5%. The loan is unsecured.

 
Page 7