IRIS Accounts Production v24.3.2.46 03652780 Board of Directors 1.1.24 31.12.24 31.12.24 19.3.25 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036527802023-12-31036527802024-12-31036527802024-01-012024-12-31036527802022-12-31036527802023-01-012023-12-31036527802023-12-3103652780ns15:EnglandWales2024-01-012024-12-3103652780ns14:PoundSterling2024-01-012024-12-3103652780ns10:Director12024-01-012024-12-3103652780ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3103652780ns10:SmallEntities2024-01-012024-12-3103652780ns10:Audited2024-01-012024-12-3103652780ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3103652780ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3103652780ns10:FullAccounts2024-01-012024-12-3103652780ns10:Director22024-01-012024-12-3103652780ns10:Director32024-01-012024-12-3103652780ns10:CompanySecretary12024-01-012024-12-3103652780ns10:RegisteredOffice2024-01-012024-12-3103652780ns5:CurrentFinancialInstruments2024-12-3103652780ns5:CurrentFinancialInstruments2023-12-3103652780ns5:Non-currentFinancialInstruments2024-12-3103652780ns5:Non-currentFinancialInstruments2023-12-3103652780ns5:ShareCapital2024-12-3103652780ns5:ShareCapital2023-12-3103652780ns5:SharePremium2024-12-3103652780ns5:SharePremium2023-12-3103652780ns5:RetainedEarningsAccumulatedLosses2024-12-3103652780ns5:RetainedEarningsAccumulatedLosses2023-12-310365278012024-01-012024-12-3103652780ns5:LandBuildings2023-12-3103652780ns5:PlantMachinery2023-12-3103652780ns5:LandBuildings2024-01-012024-12-3103652780ns5:PlantMachinery2024-01-012024-12-3103652780ns5:LandBuildings2024-12-3103652780ns5:PlantMachinery2024-12-3103652780ns5:LandBuildings2023-12-3103652780ns5:PlantMachinery2023-12-3103652780ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3103652780ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3103652780ns5:WithinOneYear2024-12-3103652780ns5:WithinOneYear2023-12-3103652780ns5:BetweenOneFiveYears2024-12-3103652780ns5:BetweenOneFiveYears2023-12-3103652780ns5:AllPeriods2024-12-3103652780ns5:AllPeriods2023-12-310365278012024-01-012024-12-31
REGISTERED NUMBER: 03652780 (England and Wales)
















SWALLOW DENTAL SUPPLIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SWALLOW DENTAL SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: F M Agge
K J Redin
J A S Weller





SECRETARY: A Kilburn





REGISTERED OFFICE: Unit 5 Marrtree Business Park
Ryefield Way
Silsden
Bradford
BD20 0EF





REGISTERED NUMBER: 03652780 (England and Wales)





AUDITORS: BPR Audit Limited
Statutory Auditors
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 134,047 147,789

CURRENT ASSETS
Stocks 447,909 473,629
Debtors: amounts falling due within one
year

5

827,224

843,576
Cash at bank and in hand 3,540,544 3,065,875
4,815,677 4,383,080
CREDITORS
Amounts falling due within one year 6 (413,389 ) (693,764 )
NET CURRENT ASSETS 4,402,288 3,689,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,536,335

3,837,105

CREDITORS
Amounts falling due after more than one
year

7

(1,360

)

-

PROVISIONS FOR LIABILITIES (26,271 ) (10,378 )
NET ASSETS 4,508,704 3,826,727

CAPITAL AND RESERVES
Called up share capital 60 60
Share premium 43,461 43,461
Retained earnings 4,465,183 3,783,206
SHAREHOLDERS' FUNDS 4,508,704 3,826,727

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 Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





J A S Weller - Director


SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)

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

1. STATUTORY INFORMATION

Swallow Dental Supplies Limited 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.

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.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below.

The financial statements have been prepared using the going concern basis.

The current economic conditions present risks for all businesses. In response to such conditions, the directors have carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the directors consider that the company maintains an appropriate level of liquidity sufficient to meet the demands of the business including any capital and servicing obligations of external debt liabilities.

In addition, the company's assets are assessed for recoverability on a regular basis, and the directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

Significant judgements and estimates
The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. These estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events. However, the nature of estimation means that actual results may differ from these estimates.

Key sources of estimation uncertainty
Determining appropriate rates of depreciation requires an estimation of the useful lives and expected residual values of fixed assets. The net carrying amount of assets is £134,047 (2023: £147,789)
During the year depreciation of £43,519 has been provided.(2023: £27,111).

SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of of goods is recognised with the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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.

Leasehold property - Over the terms of the lease
Plant and machinery- Straight line over 3 to 5 years
Fixtures and fittings - Straight line over 3 to 5 years
Computer equipment - Straight line over 3 to 5 years

The gain or loss arising on the disposal of any asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Stocks
Stocks are stated at the lower of average cost and estimated selling price less costs to complete and sell.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit and loss.

SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)

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

2. ACCOUNTING POLICIES - continued

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 3,800 336,666 340,466
Additions - 32,510 32,510
Disposals - (121,507 ) (121,507 )
At 31 December 2024 3,800 247,669 251,469
DEPRECIATION
At 1 January 2024 1,487 191,190 192,677
Charge for year 991 42,528 43,519
Eliminated on disposal - (118,774 ) (118,774 )
At 31 December 2024 2,478 114,944 117,422
NET BOOK VALUE
At 31 December 2024 1,322 132,725 134,047
At 31 December 2023 2,313 145,476 147,789

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 700,935 692,379
Other debtors 126,289 151,197
827,224 843,576

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 187,665 287,110
Taxation and social security 147,233 325,707
Other creditors 78,491 80,947
413,389 693,764

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 1,360 -

SWALLOW DENTAL SUPPLIES LIMITED (REGISTERED NUMBER: 03652780)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 40,698 47,421
Between one and five years 24,264 68,998
64,962 116,419

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Garrity FCA FCCA (Senior Statutory Auditor)
for and on behalf of BPR Audit Limited

10. CONTROL

Swallow Dental Supplies Limited is a 90% owned subsidiary of Lifco Ab, a company registered in Sweden.