PFM Dental Sales and Valuations Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11196146

PFM Dental Sales and Valuations Limited

Filleted Unaudited Financial Statements

For the year ended

28 February 2025

PFM Dental Sales and Valuations Limited

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Intangible assets	5	5,308	6,755
Tangible assets	6	2,291	3,056
		-------	-------
		7,599	9,811

Current assets

Debtors	7	138,085	146,995
Cash at bank and in hand		263,628	371,649
		----------	----------
		401,713	518,644

Creditors: amounts falling due within one year	8	( 212,242)		( 233,886)
		----------		----------
Net current assets			189,471		284,758
			----------		----------
Total assets less current liabilities			197,070		294,569
			----------		----------
Net assets			197,070		294,569
			----------		----------

Capital and reserves

Called up share capital	16,572	16,572
Profit and loss account	180,498	277,997
	----------	----------
Shareholders funds	197,070	294,569
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 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 financial statements for the year in question in accordance with section 476 ;

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

PFM Dental Sales and Valuations Limited

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:

Mr J A Fearn	Mr J R Drysdale
Director	Director

Mr M P Bradshaw
Director

Company registration number: 11196146

PFM Dental Sales and Valuations Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 62 Skeldergate, York, YO1 6WN, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the provision of services is recognised when the amount can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Income from Limited Liability Partnerships in which the company is a partner is recognised in the period to which it arises. (d) Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. (e) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

(f) Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Customer database	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

(g) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(h) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	25% reducing balance

(i) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

(j) Financial instruments

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 entity after deducting all of its financial liabilities.

(k) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 7 ).

5. Intangible assets

	Customer database
	£
Cost
At 1 March 2024 and 28 February 2025	14,472
	--------
Amortisation
At 1 March 2024	7,717
Charge for the year	1,447
	--------
At 28 February 2025	9,164
	--------
Carrying amount
At 28 February 2025	5,308
	--------
At 29 February 2024	6,755
	--------

6. Tangible assets

	Office equipment
	£
Cost
At 1 March 2024 and 28 February 2025	10,664
	--------
Depreciation
At 1 March 2024	7,608
Charge for the year	765
	--------
At 28 February 2025	8,373
	--------
Carrying amount
At 28 February 2025	2,291
	--------
At 29 February 2024	3,056
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	7,215	1,845
Other debtors	130,870	145,150
	----------	----------
	138,085	146,995
	----------	----------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	2,402	949
Accruals	5,240	26,210
Corporation tax	83,324	73,892
Social security and other taxes	5,208	16,767
Director loan accounts	5,312	5,312
Other creditors	110,756	110,756
	----------	----------
	212,242	233,886
	----------	----------

9. Related party transactions

During the year a director made available a loan to the company. The loan was interest free and repayable on demand. At the year end date the balance due to the director totalled £ 5,312 (2024 - £5,312).