REGISTERED NUMBER: SC441323 (Scotland)

M-Dens Ltd.

Financial Statements For The Year Ended 31 January 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr J M Balbas

REGISTERED OFFICE:

2 Clifton Road

Lossiemouth

Moray

IV31 6DJ

REGISTERED NUMBER:

SC441323 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

The Co-operative Bank

Business Direct

PO Box 250

Skelmerdale

WN8 6WT

FIXED ASSETS

Intangible assets

4

171,103

228,138

Tangible assets

5

43,217

165,568

Investments

6

1,162,147

1,010,922

Investment property

7

799,428

508,682

2,175,895

1,913,310

CURRENT ASSETS

Stocks

6,600

8,000

Debtors

8

62,453

90,857

Cash at bank and in hand

213,701

160,671

282,754

259,528

CREDITORS

Amounts falling due within one year

9

160,888

199,415

NET CURRENT ASSETS

121,866

60,113

TOTAL ASSETS LESS CURRENT LIABILITIES

2,297,761

1,973,423

PROVISIONS FOR LIABILITIES

10

5,885

8,412

NET ASSETS

2,291,876

1,965,011

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

2,291,776

1,964,911

SHAREHOLDERS' FUNDS

2,291,876

1,965,011

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 June 2026 and were signed by:

Dr J M Balbas - Director

1.	STATUTORY INFORMATION

M-Dens Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

4% on cost

Equipment

-

33% on cost, 20% on cost and 10% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2025 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2025

and 31 January 2026

570,348

AMORTISATION

At 1 February 2025

342,210

Charge for year

57,035

At 31 January 2026

399,245

NET BOOK VALUE

At 31 January 2026

171,103

At 31 January 2025

228,138

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

Equipment

fittings

£

£

£

COST

At 1 February 2025

173,577

166,744

30,971

Additions

-

1,173

-

Disposals

(173,577

)

(2,015

)

-

At 31 January 2026

-

165,902

30,971

DEPRECIATION

At 1 February 2025

41,658

137,594

29,223

Charge for year

1,123

13,068

291

Eliminated on disposal

(42,781

)

(1,793

)

-

At 31 January 2026

-

148,869

29,514

NET BOOK VALUE

At 31 January 2026

-

17,033

1,457

At 31 January 2025

131,919

29,150

1,748

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2025

-

8,899

380,191

Additions

23,997

3,770

28,940

Disposals

-

-

(175,592

)

At 31 January 2026

23,997

12,669

233,539

DEPRECIATION

At 1 February 2025

-

6,151

214,626

Charge for year

3,534

2,254

20,270

Eliminated on disposal

-

-

(44,574

)

At 31 January 2026

3,534

8,405

190,322

NET BOOK VALUE

At 31 January 2026

20,463

4,264

43,217

At 31 January 2025

-

2,748

165,565

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2025

1,010,922

Additions

200,000

Disposals

(110,000

)

Share of profit/(loss)

61,225

At 31 January 2026

1,162,147

NET BOOK VALUE

At 31 January 2026

1,162,147

At 31 January 2025

1,010,922

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2025

508,682

Additions

376,814

Disposals

(86,068

)

At 31 January 2026

799,428

NET BOOK VALUE

At 31 January 2026

799,428

At 31 January 2025

508,682

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade debtors

62,453

89,831

Other debtors

-

1,026

62,453

90,857

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade creditors

30,251

20,222

Taxation and social security

119,332

100,911

Other creditors

11,305

78,282

160,888

199,415

10.	PROVISIONS FOR LIABILITIES

31.1.26

31.1.25

£

£

Deferred tax

5,885

8,412

Deferred

tax

£

Balance at 1 February 2025

8,412

Provided during year

(2,527

)

Balance at 31 January 2026

5,885

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.26

31.1.25

value:

£

£

90

Ordinary

1

90

90

10

A Ordinary

1

10

10

100

100

12.

RESERVES

Retained

earnings

£

At 1 February 2025

1,964,911

Profit for the year

371,865

Dividends

(45,000

)

At 31 January 2026

2,291,776

13.	CAPITAL COMMITMENTS

31.1.26

31.1.25

£

£

Contracted but not provided for in the

financial statements

208,666

-

14.	RELATED PARTY DISCLOSURES

During the year, total dividends of £23,000 (2025 - £24,500) were paid to the director .

At 31 January 2025 the company owed the director £72,030. During the year the company met expenses on behalf of the director totalling £71,413. At 31 January 2026 the company owed the director £617. This loan is interest free and has no fixed terms of repayment.