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Registration number: 838510

The Griffen Dental Laboratory Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

The Griffen Dental Laboratory Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Griffen Dental Laboratory Limited

Company Information

Directors

Mr Robert Ian Brasington

Mr Graham Paul Eke

Mr Kieran Winston Callan

Registered office

9 High Road
Byfleet
Surrey
Surrey
KT14 7QH

Accountants

MSH Accountancy Limited
3 Bank Buildings
149 High Street
Cranleigh
Surrey
GU6 8BB

 

The Griffen Dental Laboratory Limited

(Registration number: 838510)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

20,604

108,918

Current assets

 

Stocks

5

13,807

3,850

Debtors

6

69,281

54,567

Cash at bank and in hand

 

98,585

108,915

 

181,673

167,332

Creditors: Amounts falling due within one year

(81,680)

(58,867)

Net current assets

 

99,993

108,465

Net assets

 

120,597

217,383

Capital and reserves

 

Called up share capital

7

30,045

30,045

Retained earnings

90,552

187,338

Shareholders' funds

 

120,597

217,383

 

The Griffen Dental Laboratory Limited

(Registration number: 838510)
Balance Sheet as at 30 September 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 December 2024 and signed on its behalf by:
 

.........................................
Mr Graham Paul Eke
Director

   
     
 

The Griffen Dental Laboratory Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
9 High Road
Byfleet
Surrey
Surrey
KT14 7QH

These financial statements were authorised for issue by the Board on 4 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

The Griffen Dental Laboratory Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

50% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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.

 

The Griffen Dental Laboratory Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 13).

 

The Griffen Dental Laboratory Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

84,215

355,761

9,000

448,976

Disposals

(84,215)

-

-

(84,215)

At 30 September 2024

-

355,761

9,000

364,761

Depreciation

At 1 October 2023

-

332,183

7,875

340,058

Charge for the year

-

3,537

562

4,099

At 30 September 2024

-

335,720

8,437

344,157

Carrying amount

At 30 September 2024

-

20,041

563

20,604

At 30 September 2023

84,215

23,578

1,125

108,918

Included within the net book value of land and buildings above is £Nil (2023 - £84,215) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

13,807

3,850

6

Debtors

Current

2024
£

2023
£

Trade debtors

69,281

53,817

Other debtors

-

750

 

69,281

54,567

 

The Griffen Dental Laboratory Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

30,000

30,000

30,000

30,000

Ordinary B Shares of £1 each

45

45

45

45

30,045

30,045

30,045

30,045

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £8.1333 (2023 - £2.3498) per each A Ordinary

244,000

70,494

Interim dividend of £1.40 (2023 - £1,446.04) per each B Ordinary

63,000

65,072

307,000

135,566

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,152

25,152

Contributions paid to money purchase schemes

24,960

24,960

50,112

50,112