Metrodent Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00320774 (England and Wales)

Financial Statements

for the Year Ended 31 December 2018

for

METRODENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G B Needham

M J Toon

SECRETARY:

M J Toon

REGISTERED OFFICE:

Lowergate Works

Lowergate

Paddock

Huddersfield

HD3 4EP

REGISTERED NUMBER:

00320774 (England and Wales)

ACCOUNTANTS:

Rawse, Varley & Co

Chartered Accountants

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Tangible assets

4

92,456

97,532

CURRENT ASSETS

Stock and work in progress

1,655,757

1,629,726

Debtors

5

800,620

766,347

Cash at bank

68,082

265,241

2,524,459

2,661,314

CREDITORS

Amounts falling due within one year

6

707,662

761,105

NET CURRENT ASSETS

1,816,797

1,900,209

TOTAL ASSETS LESS CURRENT LIABILITIES

1,909,253

1,997,741

PROVISIONS FOR LIABILITIES

15,457

16,245

NET ASSETS

1,893,796

1,981,496

CAPITAL AND RESERVES

Called up share capital

9

50,000

50,000

Retained earnings

1,843,796

1,931,496

SHAREHOLDERS' FUNDS

1,893,796

1,981,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 27 September 2019 and were signed on its behalf by:

G B Needham - Director

1.	STATUTORY INFORMATION

Metrodent Limited is a private company, limited by shares , registered in England and Wales. 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 represents amounts invoiced in respect of sales and work done less returns and allowances, excluding

value added tax

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.

Depreciation in calculated to write off the assets over their expected useful lives at the following annual rates:

Plant, machinery and fixtures

-

10% and 20% of cost

Computer equipment

-

25% of cost

Motor vehicles

-

25% of cost

Stock and work in progress

Stock and work in progress are stated at the lower of cost and net realisable value. In the case of manufactured

goods, cost includes attributable manufacturing overheads.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

Rentals payable under operating leases are charged to profit and loss account on a straight line basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2017 - 42 ) .

4.	TANGIBLE FIXED ASSETS

Office

furniture

and

equipment

£

COST

At 1 January 2018

1,162,507

Additions

23,226

At 31 December 2018

1,185,733

DEPRECIATION

At 1 January 2018

1,064,975

Charge for year

28,302

At 31 December 2018

1,093,277

NET BOOK VALUE

At 31 December 2018

92,456

At 31 December 2017

97,532

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

730,981

728,612

Corporation tax

9,294

-

Prepayments and accrued income

60,345

37,735

800,620

766,347

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

500,216

507,752

Corporation tax

-

9,294

Social security and other taxes

126,806

158,552

Other creditors

7,035

8,267

Directors' loan accounts

28,127

27,528

Accruals and deferred income

45,478

49,712

707,662

761,105

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

75,930

65,973

Between one and five years

196,483

190,555

In more than five years

87,500

122,500

359,913

379,028

8.	SECURED DEBTS

Bank borrowings are secured by fixed and floating charges over the company's assets.There were no bank

borrowings at 31 December 2018 (2017 - none).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

50,000

Ordinary

1.00

50,000

50,000

10.	RELATED PARTIES

Mr G B Needham received the benefit of dividends of £43,610 during the year.