Company registration number 02023480 (England and Wales)
SEPTODONT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SEPTODONT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
SEPTODONT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
Fixed assets
Tangible assets
4
291,844
305,347
Current assets
Stocks
2,179,293
1,664,477
Debtors
6
2,584,529
2,669,805
Cash at bank and in hand
96,314
73,604
4,860,136
4,407,886
Creditors: amounts falling due within one year
7
(3,125,841)
(3,420,685)
Net current assets
1,734,295
987,201
Total assets less current liabilities
2,026,139
1,292,548
Provisions for liabilities
9
(11,807)
(12,369)
Net assets
2,014,332
1,280,179
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
2,014,330
1,280,177
Total equity
2,014,332
1,280,179

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 30 April 2025 and are signed on its behalf by:
Michael G.A. Cann
Director
Company registration number 02023480 (England and Wales)
SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Septodont Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units R & S, Orchard Business Centre, St Barnabas Close, Allington, Maidstone, Kent, ME16 0JZ.

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 €.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors are satisfied that the current level of operating activity can be sustained for the forseeable future. The directors consider the financial position of the company to be satisfactory, and having prepared liquidity and trading forecasts, which take into account potential uncertainty for the level of demand for the company products, the directors are satisfied that that the company is able to meet its liabilities as and when they fall due for the forseeable future and for a minimum period of 12 months from the date of approval of these financial statements. Consequently, the financial statements are prepared on the going concern basis.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when 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.

1.4
Tangible 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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
straight line over 50 years
Fixtures and fittings
straight line over 3-10 years

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.

SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads using the FIFO method. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation.

1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of 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 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.

Classification of financial liabilities

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.

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.

SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Derivatives

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

 

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Debt instruments are subsequently measured at amortised cost.

 

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

 

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

 

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

 

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.11
Retirement benefits

The company operates a defined contribution pension scheme which is managed externally. The pension charge represents the amounts payable by the company to the fund in respect of the financial year.

1.12
Leases

Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis.

1.13
Foreign exchange

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of comprehensive income.

 

1.14

Dividend policy

Dividends unpaid at the balance sheet date are recognised as a liability to the extent that they are appropriately authorised and are no longer at the discretion of the company.

1.15

Related party transactions

As the company is a wholly owned subsidiary of Septodont Holding S.A.S., the company has taken advantage of the exemption contained within FRS 102 paragraph 33.1A and has therefore not disclosed transcations or balances with entities which are wholly owned by Septodont Holding S.A.S.

SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.16

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Septodont Holding S.A.S. which can be obtained from Septodont Holding S.A.S., 58 rue du Pont de Creteil, 94107 Saint Maur des Fosses Cedex, France.

 

As a qualifying entity and wholly-owned member of Septodont Holding S.A.S., the ultimate parent company, the company has taken advantage of the exemptions:

 

- From the requirement to disclose transactions with members of the same group that are wholly owned, as provided by paragraph 33.1A of FRS 102,

 

- From the requirement to disclose the key management personnel compensation in total as required by paragraph 33.7 of FRS 102,

 

- From the financial instrument disclosures, required under FRS 102 paragraphs 11.39 to 11.48A and paragraphs 12.26 to 12.29, as the information is provided in the consolidated financial statement disclosures.

2
Accounting estimates and judgements

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

 

(a)Useful economic lives of fixed assets

 

The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 7 for the carrying amount of the fixed assets, and note 3 for the useful economic lives for each class of assets.

 

(b)Impairment of trade receivable

 

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other receivables, management considers factors including the credit rating of the receivable, the ageing profile of receivables and historical experience. Given these factors, no provision has been recognised for bad and doubtful debt (2023: €nil). See note 9 for the net carrying amount of the receivables.

 

(c)Impairment of stock

 

The company has made a provision of €nil for 2024 (2023: €nil) relating to impairment of stock. The provision is calculated by taking account of the future sales, stock expiry date, the probability of unsold stock after expiration and the cost of disposal. This provision represents management's best estimate of the risk, but the amount required is subject to uncertainty.

SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
15
14
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
Cost
At 1 January 2024
796,465
141,061
937,526
Additions
-
0
27,717
27,717
Disposals
-
0
(33,380)
(33,380)
At 31 December 2024
796,465
135,398
931,863
Depreciation and impairment
At 1 January 2024
532,249
99,930
632,179
Depreciation charged in the year
17,294
23,926
41,220
Eliminated in respect of disposals
-
0
(33,380)
(33,380)
At 31 December 2024
549,543
90,476
640,019
Carrying amount
At 31 December 2024
246,922
44,922
291,844
At 31 December 2023
264,216
41,131
305,347
5
Financial instruments
2024
2023
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
236,431
77,467
6
Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
2,227,375
2,396,042
Amounts owed by group undertakings
-
0
118,320
Other debtors
357,154
155,443
2,584,529
2,669,805
SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Debtors
(Continued)
- 8 -

Amounts owed by group undertakings are unsecured, bear interest at daily EURIBOR + 0.2% and are repayable on demand.

7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
28,933
28,140
Amounts owed to group undertakings
2,172,746
2,549,922
Taxation and social security
162,983
79,127
Other creditors
761,179
763,496
3,125,841
3,420,685

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

8
Secured assets

BNP Paribas has fixed and floating charges over the assets of the company. These charges are required to provide security with regard to group borrowings.

9
Provisions for liabilities
2024
2023
Deferred tax liabilities
10
11,807
12,369
10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
Accelerated capital allowances
11,807
12,369
2024
Movements in the year:
Liability at 1 January 2024
12,369
Credit to profit or loss
(562)
Liability at 31 December 2024
11,807
SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Mr Jon Williamson FCA
Statutory Auditor:
Levicks Audit Services Limited
Date of audit report:
7 May 2025
12
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
219,637
224,109
SEPTODONT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
13
Related party transactions

Transactions with Septodont S.A.S.

During the year the company purchased goods amounting to €16,747,065 (2023: €16,123,666) from Septodont S.A.S., a company in which Septodont Holding S.A.S. has a majority interest. The outstanding amount due to Septodont S.A.S. was €1,881,694 (2023: €2,468,628) as at 31 December 2024.

14
Parent company

During the year, the immediate parent undertaking of the company was Septodont NV.SA, a company incorporated in Belgium. The ultimate parent undertaking is Septodont Holding S.A.S. a company incorporated in France. Olivier Schiller has ultimate control, as in the previous financial year, by virtue of his shareholding in the ultimate parent company.

 

As of the 22 February 2024 the ultimate parent company of Septodont Holding S.A.S. will become the immediate parent company due to a group restructuring.

 

Therefore as at the year end the immediate parent undertake of the company is Septodont Holding S.A.S, a company incorporated in France.

 

The group in which the results of the company are consolidated is that headed by Septodont Holding S.A.S. The consolidated financial statements of this company are available to the public and may be obtained from:

 

Septodont Holding S.A.S.
58 Rue du Pont de Créteil
94107 Saint Maur des Fossés Cedex
France

 

15
Dividends

2024          2023

             

Dividends paid - €nil (2023: €213,000) per share         Nil     426,000

 

A final dividend in respect of the financial year ended 31 December 2024 of €500,000 per share, amounting to a total dividend of €1,000,000 is to be proposed at the annual general meeting. These financial statements do not reflect this dividend.

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