Registered number
SC476470
Vitality Dental Laboratory Ltd
Filleted Accounts
30 April 2024
Vitality Dental Laboratory Ltd
Registered number: SC476470
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 35,616 43,646
Current assets
Stocks 5,500 5,500
Debtors 4 80,018 71,352
Cash at bank and in hand 47,011 89,534
132,529 166,386
Creditors: amounts falling due within one year 5 (157,464) (172,236)
Net current liabilities (24,935) (5,850)
Total assets less current liabilities 10,681 37,796
Creditors: amounts falling due after more than one year 6 (32,439) (37,028)
Net (liabilities)/assets (21,758) 768
Capital and reserves
Called up share capital 10 10
Profit and loss account (21,768) 758
Shareholders' funds (21,758) 768
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alex Adair
Director
Approved by the board on 23 April 2025
Vitality Dental Laboratory Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Reducing balance
Motor vehicles 20% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
A prior year corporation tax adjustment has been undertaken following an R&D claim for the financial year April 2019.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 10
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 May 2023 91,486 27,512 118,998
Additions 722 - 722
At 30 April 2024 92,208 27,512 119,720
Depreciation
At 1 May 2023 60,687 14,665 75,352
Charge for the year 6,183 2,569 8,752
At 30 April 2024 66,870 17,234 84,104
Net book value
At 30 April 2024 25,338 10,278 35,616
At 30 April 2023 30,799 12,847 43,646
4 Debtors 2024 2023
£ £
Trade debtors 80,018 71,352
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 49,550 51,599
Obligations under finance lease and hire purchase contracts - 6,730
Trade creditors 39,307 44,853
Taxation and social security costs 49,553 46,643
Accrued charges 19,054 22,411
157,464 172,236
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 32,439 35,000
Obligations under finance lease and hire purchase contracts - 2,028
32,439 37,028
7 Loans 2024 2023
£ £
Creditors include:
Secured loans - 8,758
The secured loans are in the form of Hire Purchase contracts and secured over the assets.
8 Controlling party
The director, Alex Adair held a beneficial interest in the share capital of the company.
9 Other information
Vitality Dental Laboratory Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
Flat 0/1
9 Horselethill Road
Glasgow
G12 9LX
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