Company No: SC741478 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	4	24,275		0
Tangible assets	5	41,664		0
		65,939		0
Current assets
Stocks	6	1,810		0
Debtors	7	108,842		100
Cash at bank and in hand	8	7,047		0
		117,699		100
Creditors: amounts falling due within one year	9	( 56,231)		0
Net current assets		61,468		100
Total assets less current liabilities		127,407		100
Creditors: amounts falling due after more than one year	10	( 128,736)		0
Provision for liabilities		( 3,187)		0
Net (liabilities)/assets		( 4,516)		100
Capital and reserves
Called-up share capital	11	100		100
Profit and loss account		( 4,616 )		0
Total shareholders' (deficit)/funds		( 4,516)		100

For the financial year ending 31 May 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Moray Firth Dental Ltd (registered number: SC741478) were approved and authorised for issue by the Board of Directors on 14 May 2026. They were signed on its behalf by:

Andre Hein Vogelzang Director

Surine Vogelzang Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Moray Firth Dental Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 16 Commerce Street, Elgin, IV30 1BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Trademarks, patents and licences	10 years straight line
Other intangible assets	10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Vehicles	25 % reducing balance
Office equipment	15 % reducing balance
Computer equipment	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		2

4. Intangible assets

	Goodwill		Trademarks, patents and licences		Other intangible assets		Total
	£		£		£		£
Cost
At 01 June 2024	0		0		0		0
Additions	26,270		2		2		26,274
At 31 May 2025	26,270		2		2		26,274
Accumulated amortisation
At 01 June 2024	0		0		0		0
Charge for the financial year	1,999		0		0		1,999
At 31 May 2025	1,999		0		0		1,999
Net book value
At 31 May 2025	24,271		2		2		24,275
At 31 May 2024	0		0		0		0

5. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 June 2024	0		0		0		0		0
Additions	10,000		28,151		1,515		6,257		45,923
At 31 May 2025	10,000		28,151		1,515		6,257		45,923
Accumulated depreciation
At 01 June 2024	0		0		0		0		0
Charge for the financial year	0		3,519		121		619		4,259
At 31 May 2025	0		3,519		121		619		4,259
Net book value
At 31 May 2025	10,000		24,632		1,394		5,638		41,664
At 31 May 2024	0		0		0		0		0

6. Stocks

	2025		2024
	£		£
Stocks	1,810		0

7. Debtors

	2025		2024
	£		£
Trade debtors	928		0
Amounts owed by Group undertakings	69,916		0
Amounts owed by directors	36,609		100
Prepayments	1,389		0
	108,842		100

8. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	7,047		0

9. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	40,000		0
Accruals	7,674		0
Other taxation and social security	1,927		0
Obligations under finance leases and hire purchase contracts	6,167		0
Other creditors	463		0
	56,231		0

10. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	120,000		0
Obligations under finance leases and hire purchase contracts	8,736		0
	128,736		0

There are no amounts included above in respect of which any security has been given by the small entity.

11. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

12. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed by directors	36,609		100

The loan is unsecured, interest free and repayable on demand.

Other related party transactions

	2025		2024
	£		£
Amounts owed by Moray Firth Ltd	69,916		0

The loan is unsecured, interest free and repayable on demand.