Technicare Dental Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04071187 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

TECHNICARE DENTAL SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J D Walters

SECRETARY:

Mrs A V Walters

REGISTERED OFFICE:

57 Torquay Road

Paignton

Devon

TQ3 3DT

REGISTERED NUMBER:

04071187 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Unit 4

Brunel Buildings

Brunel Road

Newton Abbot

Devon

TQ12 4PB

BANKERS:

Barclays Bank Plc

40 Courtenay Street

Newton Abbot

Devon

TQ12 2EA

FIXED ASSETS

Intangible assets

4

1,500

2,250

Tangible assets

5

2,378

1,444

3,878

3,694

CURRENT ASSETS

Stocks

6

24,250

24,100

Debtors

7

169,575

181,563

Cash at bank

78,908

75,428

272,733

281,091

CREDITORS

Amounts falling due within one year

8

99,761

109,251

NET CURRENT ASSETS

172,972

171,840

TOTAL ASSETS LESS CURRENT LIABILITIES

176,850

175,534

PROVISIONS FOR LIABILITIES

452

288

NET ASSETS

176,398

175,246

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

176,394

175,242

SHAREHOLDERS' FUNDS

176,398

175,246

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 17 January 2020 and were signed by:

Mr J D Walters - Director

1.	STATUTORY INFORMATION

Technicare Dental Supplies 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twenty 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.

Fixtures and fittings

-

15% on reducing balance

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 Statement

of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2018 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2018

and 31 August 2019

15,000

AMORTISATION

At 1 September 2018

12,750

Amortisation for year

750

At 31 August 2019

13,500

NET BOOK VALUE

At 31 August 2019

1,500

At 31 August 2018

2,250

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2018

8,297

Additions

1,508

At 31 August 2019

9,805

DEPRECIATION

At 1 September 2018

6,853

Charge for year

574

At 31 August 2019

7,427

NET BOOK VALUE

At 31 August 2019

2,378

At 31 August 2018

1,444

6.

STOCKS

2019

2018

£

£

Stocks

24,250

24,100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

139,497

126,512

Other debtors

5,011

13,344

Directors' current accounts

22,857

39,497

Prepayments

2,210

2,210

169,575

181,563

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

51,847

50,526

Tax

22,550

30,309

Social security and other taxes

1,808

850

VAT

16,911

21,458

Other creditors

4,706

4,169

Accrued expenses

1,939

1,939

99,761

109,251

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 August 2019 and 31 August 2018:

2019

2018

£

£

Mr J D Walters

Balance outstanding at start of year

39,497

2,278

Amounts advanced

86,707

133,103

Amounts repaid

(103,347

)

(95,884

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,857

39,497

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £75,000 (2018 - £70,000) were paid to the director .