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REGISTERED NUMBER: 08486321 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Ermevin Ltd

Ermevin Ltd (Registered number: 08486321)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ermevin Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: A Rao





REGISTERED OFFICE: Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ





REGISTERED NUMBER: 08486321 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Ermevin Ltd (Registered number: 08486321)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,145,411 902,562
Investments 6 150,240 150,140
1,295,651 1,052,702

CURRENT ASSETS
Stocks 28,363 21,419
Debtors 7 792,538 672,485
Cash at bank 1,623 22,090
822,524 715,994
CREDITORS
Amounts falling due within one year 8 620,792 477,429
NET CURRENT ASSETS 201,732 238,565
TOTAL ASSETS LESS CURRENT LIABILITIES 1,497,383 1,291,267

CREDITORS
Amounts falling due after more than one
year

9

(664,494

)

(781,622

)

PROVISIONS FOR LIABILITIES (116,335 ) (52,180 )
NET ASSETS 716,554 457,465

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 716,553 457,464
716,554 457,465

Ermevin Ltd (Registered number: 08486321)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 28 January 2025 and were signed by:





A Rao - Director


Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Ermevin Ltd 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.

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


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 as modified by the revaluation of certain assets.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of dentistry services in the ordinary course of the company’s activities.

The company recognises revenue when:
- it is in line with work performed;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

For Denplan patients the company recognises revenue:
- evenly across the year as it is received from Denplan;
- when the amount to be received can be reliably measured;
- when it is probable that it will be paid to the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its estimated useful life of five years.

Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and buildings -not provided
Plant and machinery -20% on cost
Motor vehicles -20% on cost

At the year end the director has confirmed the market value of freehold land and buildings is greater than the cost, and the buildings are kept in a good state of repair, therefore the freehold land and buildings are not depreciated.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Dental stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.


Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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
The financial statements have been prepared on a going concern basis following confirmation that the director will continue to financially support the company in order to maintain its operations as necessary for the foreseeable future and at least 12 months from the date of signing the financial statements.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 234,997
AMORTISATION
At 1 May 2023
and 30 April 2024 234,997
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Freehold
land and Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 May 2023 655,183 557,463 91,144 1,303,790
Additions - 8,171 - 8,171
Revaluations 294,817 - - 294,817
At 30 April 2024 950,000 565,634 91,144 1,606,778
DEPRECIATION
At 1 May 2023 - 396,481 4,747 401,228
Charge for year - 41,910 18,229 60,139
At 30 April 2024 - 438,391 22,976 461,367
NET BOOK VALUE
At 30 April 2024 950,000 127,243 68,168 1,145,411
At 30 April 2023 655,183 160,982 86,397 902,562



6. FIXED ASSET INVESTMENTS
Interest
in
participatin
interests
£   
COST
At 1 May 2023 150,140
Additions 100
At 30 April 2024 150,240
NET BOOK VALUE
At 30 April 2024 150,240
At 30 April 2023 150,140

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed by participating interests 768,911 654,995
Other debtors 23,627 17,490
792,538 672,485

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 313,271 142,312
Hire purchase contracts 24,568 20,679
Trade creditors 111,151 146,884
Amounts owed to participating interests 33,507 12,640
Taxation and social security 15,288 70,867
Other creditors 123,007 84,047
620,792 477,429

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 557,789 650,348
Hire purchase contracts 106,705 131,274
664,494 781,622

Included in bank loans in notes 9 and 10 is a combined balance of £199,904 (2023 - £271,165) which is guaranteed by the government and unsecured.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 131,273 151,953
Bank loans 632,542 377,629
763,815 529,582

Bank loans are secured by a legal charge which covers the freehold property known as 17 Queen Square, Bristol, BS1 4NH.

Hire purchase contracts are secured over the assets to which they relate.

11. PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £1,562 (2023 - £1,401) were payable to the fund at the reporting date.

12. OFF BALANCE SHEET COMMITMENTS

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £12,772 (2023 - £15,414).

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

13. RELATED PARTY DISCLOSURES

Loans to related parties



Other related
parties


Total
2024 £ £
At start of period 654,995 654,995
Advanced 377,927 377,927
Repaid (264,011 ) (264,011 )
At end of period 768,911 768,911


Other related
parties


Total
2023 £ £
At start of period 503,654 503,654
Advanced 207,920 207,920
Repaid (56,579 ) (56,579 )
At end of period 654,995 654,995

The loans to other related parties are interest free and repayable on demand.

Ermevin Ltd (Registered number: 08486321)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

13. RELATED PARTY DISCLOSURES - continued

Loans from related parties



Key
management

Other related
parties


Total
2024 £ £ £
At start of period - 12,640 12,640
Advanced 180,533 20,867 201,400
Repaid (180,491 ) - (180,491 )
At end of period 42 33,507 33,549


Key
management

Other related
parties


Total
2023 £ £ £
At start of the period 50 8,957 9,007
Advanced 302,799 15,000 317,799
Repaid (302,849 ) (11,317 ) (314,166 )
At end of period - 12,640 12,640

The loans from key management are interest free and repayable on demand.

The loans from other related parties are interest free and repayable on demand.