Metrodent Limited - Accounts to registrar (filleted) - small 18.2
Metrodent Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2019 |
for |
METRODENT LIMITED |
METRODENT LIMITED (REGISTERED NUMBER: 00320774) |
Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
METRODENT LIMITED |
Company Information |
for the Year Ended 31 December 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Lloyds Bank Chambers |
Hustlergate |
Bradford |
BD1 1UQ |
METRODENT LIMITED (REGISTERED NUMBER: 00320774) |
Balance Sheet |
31 December 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stock |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
METRODENT LIMITED (REGISTERED NUMBER: 00320774) |
Balance Sheet - continued |
31 December 2019 |
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 and authorised for issue on |
METRODENT LIMITED (REGISTERED NUMBER: 00320774) |
Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
1. | STATUTORY INFORMATION |
Metrodent Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
METRODENT LIMITED (REGISTERED NUMBER: 00320774) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
equipment |
£ |
COST |
At 1 January 2019 |
Additions |
At 31 December 2019 |
DEPRECIATION |
At 1 January 2019 |
Charge for year |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
At 31 December 2018 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Corporation tax |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 137,961 | 28,127 |
Accruals and deferred income |
METRODENT LIMITED (REGISTERED NUMBER: 00320774) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
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 2019 (2018 - none). |
Other creditors include amounts totalling £320,754 relating to sales invoice finance advances. Debentures including fixed and floating charges over the assets of the company are held as security for this arrangement. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary | £1 | 50,000 | 50,000 |
10. | RELATED PARTIES |
Mr G B Needham received the benefit of dividends of £43,610 during the year. |