Company registration number 10200802 (England and Wales)
ADVANCED DENTAL LABORATORIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
ADVANCED DENTAL LABORATORIES LTD
COMPANY INFORMATION
Directors
M G Coldicott
K S Bhandal
J M Rabone
Secretary
B Coldicott
Company number
10200802
Registered office
Unit 10 Bartley Green Business Centre
10 Kettles Wood Drive
Woodgate
Birmingham
West Midlands
B32 3DB
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
ADVANCED DENTAL LABORATORIES LTD
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
ADVANCED DENTAL LABORATORIES LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF ADVANCED DENTAL LABORATORIES LTD
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Advanced Dental Laboratories Ltd for the year ended 31 May 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Advanced Dental Laboratories Ltd, as a body, in accordance with the terms of our engagement letter dated 20 August 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Advanced Dental Laboratories Ltd and state those matters that we have agreed to state to the board of directors of Advanced Dental Laboratories Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Advanced Dental Laboratories Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Advanced Dental Laboratories Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Advanced Dental Laboratories Ltd. You consider that Advanced Dental Laboratories Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Advanced Dental Laboratories Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jerroms GCN Limited
31 March 2025
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
ADVANCED DENTAL LABORATORIES LTD
STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
277,237
146,718
Current assets
Stocks
34,405
34,405
Debtors
4
264,438
241,558
Cash at bank and in hand
161,774
107,089
460,617
383,052
Creditors: amounts falling due within one year
5
(447,191)
(267,959)
Net current assets
13,426
115,093
Total assets less current liabilities
290,663
261,811
Creditors: amounts falling due after more than one year
6
(10,833)
(21,667)
Provisions for liabilities
(26,627)
(31,319)
Net assets
253,203
208,825
Capital and reserves
Called up share capital
7
150
100
Profit and loss reserves
253,053
208,725
Total equity
253,203
208,825
ADVANCED DENTAL LABORATORIES LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024
31 May 2024
- 3 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 March 2025 and are signed on its behalf by:
K S Bhandal
Director
Company registration number 10200802 (England and Wales)
ADVANCED DENTAL LABORATORIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information
Advanced Dental Laboratories Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 10 Bartley Green Business Centre, 10 Kettles Wood Drive, Woodgate, Birmingham, West Midlands, B32 3DB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
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.
The Company adds the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit and loss during the period in which they are incurred.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
Enter depreciation rate via StatDB - cd75
Plant and machinery
10% straight line
Fixtures and fittings
15% straight line
Motor vehicles
25% straight line
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.
1.4
Stocks
Inventories and work in progress are valued at the lower of cost and net realisable value.
Cost is calculated using the first in, first out method and includes all purchase, transport and handling costs in bringing inventories to their present location.
1.5
Taxation
The tax expense represents the sum of the tax currently payable 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.
ADVANCED DENTAL LABORATORIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
Current or deferred taxation assets or 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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.6
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
18
18
ADVANCED DENTAL LABORATORIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
200,332
47,479
29,669
277,480
Additions
150,574
1,428
5,346
157,348
At 31 May 2024
150,574
201,760
52,825
29,669
434,828
Depreciation and impairment
At 1 June 2023
86,480
27,427
16,855
130,762
Depreciation charged in the year
20,164
3,462
3,203
26,829
At 31 May 2024
106,644
30,889
20,058
157,591
Carrying amount
At 31 May 2024
150,574
95,116
21,936
9,611
277,237
At 31 May 2023
113,852
20,052
12,814
146,718
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
196,329
199,999
Other debtors
68,109
41,559
264,438
241,558
Amounts owed by related parties do not bear interest, are unsecured and are repayable on demand.
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Obligations under finance leases
1,722
Trade creditors
54,892
40,311
Corporation tax
19,723
4,822
Other taxation and social security
18,006
13,880
Other creditors
341,150
194,224
Accruals and deferred income
3,420
3,000
447,191
267,959
ADVANCED DENTAL LABORATORIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
10,833
21,667
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
150
100
150
100