Company Registration No. 10548377 (England and Wales)
Vsp Dental Limited
Unaudited accounts
for the year ended 31 December 2024
Vsp Dental Limited
Unaudited accounts
Contents
Vsp Dental Limited
Company Information
for the year ended 31 December 2024
Company Number
10548377 (England and Wales)
Vsp Dental Limited
Statement of financial position
as at 31 December 2024
Intangible assets
544,300
635,017
Tangible assets
1,054,897
1,034,850
Cash at bank and in hand
115,864
141,191
Creditors: amounts falling due within one year
(1,569,863)
(1,689,651)
Net current liabilities
(1,444,647)
(1,539,117)
Total assets less current liabilities
154,550
130,750
Creditors: amounts falling due after more than one year
(72,676)
-
Called up share capital
100
100
Profit and loss account
81,774
130,650
Shareholders' funds
81,874
130,750
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 December 2025 and were signed on its behalf by
Vishal Patel
Director
Company Registration No. 10548377
Vsp Dental Limited
Notes to the Accounts
for the year ended 31 December 2024
Vsp Dental Limited is a private company, limited by shares, registered in England and Wales, registration number 10548377.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
A prior year adjustment has been made to correct an error in the amortisation previously charged on intangible assets, resulting in a restatement of comparative figures.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Fixtures & fittings
25% reducing balance
Other tangible fixed assets
10% reducing balance
Vsp Dental Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Intangible fixed assets
Goodwill
At 31 December 2024
907,167
Charge for the year
90,717
At 31 December 2024
362,867
At 31 December 2024
544,300
At 31 December 2023
635,017
Goodwill is stated at cost less accumulated amortisation and impairment losses. It is amortised on a straight-line basis over its estimated useful life of ten years.
During the year, a prior-year adjustment was made to correct an error where goodwill had not previously been amortised. Cumulative amortisation has been recognised in opening retained earnings, and comparatives have been restated accordingly.
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2024
951,642
192,995
749
16,500
438
1,162,324
Additions
25,295
45,048
-
2,943
4,000
77,286
At 31 December 2024
976,937
238,043
749
19,443
4,438
1,239,610
At 1 January 2024
72,559
48,971
-
5,944
-
127,474
Charge for the year
19,300
34,398
-
3,375
166
57,239
At 31 December 2024
91,859
83,369
-
9,319
166
184,713
At 31 December 2024
885,078
154,674
749
10,124
4,272
1,054,897
At 31 December 2023
879,083
144,024
749
10,556
438
1,034,850
Amounts falling due within one year
Accrued income and prepayments
5,864
5,894
Vsp Dental Limited
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,423,457
1,462,824
Obligations under finance leases and hire purchase contracts
31,265
95,225
Trade creditors
37,444
44,705
Taxes and social security
70,549
42,884
Other creditors
722
34,780
Loans from directors
-
814
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
72,676
-
9
Average number of employees
During the year the average number of employees was 11 (2023: 17).