| Vatech Dental Manufacturing Limited |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Going concern |
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The company is reliant on its parent company for funds to support its working capital. The parent company has pledged continued financial support for the company for at least 12 months from the date of the approval of these financial statements and in particular will not seek repayment of the amount owed to them.
On this basis, the director believes that it remains appropriate to prepare the financial statements on a going concern basis. |
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Turnover |
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Turnover represents amounts receivable from the sale of digital dental radiography equipment and other associated service costs.
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods).
Rental income from operating leases of dental radiography equipment is recognised on a straight-line basis over the lease term. |
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Tangible fixed assets |
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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: |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 4 years |
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Stocks |
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined using the average cost method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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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. |
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Provisions |
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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. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. |
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The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Indra Raj Giri ACA, FCCA |
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Firm: |
IG Accounting & Auditing Limited |
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Date of audit report: |
27 January 2026 |
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| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
11 |
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10 |
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| 4 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 January 2025 |
88,224 |
|
212,098 |
|
300,322 |
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Additions |
24,218 |
|
24,817 |
|
49,035 |
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Disposals |
- |
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(34,738) |
|
(34,738) |
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At 31 December 2025 |
112,442 |
|
202,177 |
|
314,619 |
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Depreciation |
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At 1 January 2025 |
4,059 |
|
145,392 |
|
149,451 |
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Charge for the year |
22,434 |
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31,483 |
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53,917 |
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On disposals |
- |
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(34,726) |
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(34,726) |
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At 31 December 2025 |
26,493 |
|
142,149 |
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168,642 |
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Net book value |
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At 31 December 2025 |
85,949 |
|
60,028 |
|
145,977 |
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At 31 December 2024 |
84,165 |
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66,706 |
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150,871 |
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| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
1,283,680 |
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1,159,074 |
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Other debtors |
127,224 |
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117,329 |
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1,410,904 |
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1,276,403 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Amounts owed to group undertakings |
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1,162,232 |
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1,265,727 |
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Taxation and social security costs |
87,340 |
|
60,715 |
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Other creditors |
28,453 |
|
54,207 |
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1,278,025 |
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1,380,649 |
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| 7 |
Other financial commitments |
2025 |
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2024 |
| £ |
£ |
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Total future minimum payments under non-cancellable operating leases |
|
282,655 |
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347,057 |
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| 8 |
Related party transactions |
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During the year, the company purchased goods from its parent company Vatech Co., Ltd totalled £2,055,757 (2024: £1,774,912) on normal commercial terms. The amount owed to Vatech Co., Ltd at the year end was £1,149,526 (2024: £1,236,013).
During the year, the company purchased goods from its fellow group companies totalled £41,311 (2024: £65,796) on normal commercial terms. The amount owed to them at the year end was £12,706 (2024 : £29,714). |
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| 9 |
Controlling party |
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The company is controlled by Vatech Co., Ltd, a company registered in South Korea, by virtue of its ownership of 100% of the issued ordinary share capital in the company.
This is the only group within which Vatech Dental Manufacturing Ltd is consolidated. The consolidated statements of Vatech Co., Ltd can be obtained from 13 Samsung 1-ro 2-gil, Hwaseong-si, Gyenggi-do, 445-170, Korea. |
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| 10 |
Other information |
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Vatech Dental Manufacturing Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
7th Floor |
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Suite 1, Apex Tower |
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High Street, New Malden |
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Surrey |
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KT3 4DQ |