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Company No: SC555523 (Scotland)

BVDC GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

BVDC GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

BVDC GROUP LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
BVDC GROUP LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 4 15,000 20,000
Tangible assets 5 15,447 17,542
30,447 37,542
Current assets
Stocks 6 9,353 8,908
Debtors 7 37,510 38,710
Cash at bank and in hand 118,444 73,026
165,307 120,644
Creditors: amounts falling due within one year 8 ( 80,733) ( 61,377)
Net current assets 84,574 59,267
Total assets less current liabilities 115,021 96,809
Provision for liabilities ( 2,566) ( 2,943)
Net assets 112,455 93,866
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 112,355 93,766
Total shareholders' funds 112,455 93,866

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of BVDC Group Limited (registered number: SC555523) were approved and authorised for issue by the Board of Directors on 26 March 2025. They were signed on its behalf by:

Mr A J Dickie
Director
BVDC GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
BVDC GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

BVDC Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 273 High Street, Dalbeattie, DG5 4DW, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover consists of the sales value in the period for the supply of services and goods to third parties.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 and 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.

Basic 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 financing 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 or 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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 14

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 50,000 50,000
At 30 June 2024 50,000 50,000
Accumulated amortisation
At 01 July 2023 30,000 30,000
Charge for the financial year 5,000 5,000
At 30 June 2024 35,000 35,000
Net book value
At 30 June 2024 15,000 15,000
At 30 June 2023 20,000 20,000

5. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 July 2023 51,690 11,591 63,281
Additions 3,204 0 3,204
At 30 June 2024 54,894 11,591 66,485
Accumulated depreciation
At 01 July 2023 34,669 11,070 45,739
Charge for the financial year 5,056 243 5,299
At 30 June 2024 39,725 11,313 51,038
Net book value
At 30 June 2024 15,169 278 15,447
At 30 June 2023 17,021 521 17,542

6. Stocks

2024 2023
£ £
Stocks 9,353 8,908

7. Debtors

2024 2023
£ £
Trade debtors 36,770 36,918
Prepayments 740 1,792
37,510 38,710

8. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 475 510
Accruals and deferred income 26,340 20,705
Taxation and social security 53,016 35,196
Other creditors 902 4,966
80,733 61,377

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
60 Ordinary A shares of £ 1.00 each 60 60
40 Ordinary B shares of £ 1.00 each 40 40
100 100

10. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed by to key management personnel 475 510