Pitsea Dental Laboratory Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04625947 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

PITSEA DENTAL LABORATORY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Bastow

Mrs H D Bastow

SECRETARY:

Mrs H D Bastow

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

04625947 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,630

954

1,630

954

CURRENT ASSETS

Stocks

4,129

3,844

Debtors

6

13,068

12,800

Cash at bank

43,643

2,110

60,840

18,754

CREDITORS

Amounts falling due within one year

7

19,931

13,214

NET CURRENT ASSETS

40,909

5,540

TOTAL ASSETS LESS CURRENT LIABILITIES

42,539

6,494

CREDITORS

Amounts falling due after more than one year

8

20,000

-

NET ASSETS

22,539

6,494

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

21,539

5,494

SHAREHOLDERS' FUNDS

22,539

6,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 and authorised for issue on 22 March 2021 and were signed on its behalf by:

R J Bastow - Director

Mrs H D Bastow - Director

1.	STATUTORY INFORMATION

Pitsea Dental Laboratory 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 invoiced sales of goods and services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten 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.

Improvements to property

-

at varying rates on cost

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% 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 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 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2020

and 31 December 2020

41,499

AMORTISATION

At 1 January 2020

and 31 December 2020

41,499

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2020

1

5,561

3,163

8,725

Additions

-

680

540

1,220

At 31 December 2020

1

6,241

3,703

9,945

DEPRECIATION

At 1 January 2020

1

4,773

2,997

7,771

Charge for year

-

367

177

544

At 31 December 2020

1

5,140

3,174

8,315

NET BOOK VALUE

At 31 December 2020

-

1,101

529

1,630

At 31 December 2019

-

788

166

954

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

12,334

12,800

Other debtors

734

-

13,068

12,800

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

12,319

9,613

Social security and other taxes

263

300

Other creditors

692

465

Directors' current accounts

6,657

2,836

19,931

13,214

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

20,000

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

20,000

-

The bank loan is secured by way of a government backed guarantee.