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 2021

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:

Garner-Stevens & Co Ltd

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,167

1,630

4,167

1,630

CURRENT ASSETS

Stocks

3,404

4,129

Debtors

6

18,250

13,068

Cash at bank

61,540

43,643

83,194

60,840

CREDITORS

Amounts falling due within one year

7

29,436

19,931

NET CURRENT ASSETS

53,758

40,909

TOTAL ASSETS LESS CURRENT LIABILITIES

57,925

42,539

CREDITORS

Amounts falling due after more than one year

8

27,333

20,000

NET ASSETS

30,592

22,539

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

29,592

21,539

SHAREHOLDERS' FUNDS

30,592

22,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 17 March 2022 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

Fixtures and fittings

-

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 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

41,499

AMORTISATION

At 1 January 2021

and 31 December 2021

41,499

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2021

1

6,241

-

3,703

9,945

Additions

-

-

3,925

-

3,925

At 31 December 2021

1

6,241

3,925

3,703

13,870

DEPRECIATION

At 1 January 2021

1

5,140

-

3,174

8,315

Charge for year

-

275

981

132

1,388

At 31 December 2021

1

5,415

981

3,306

9,703

NET BOOK VALUE

At 31 December 2021

-

826

2,944

397

4,167

At 31 December 2020

-

1,101

-

529

1,630

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

18,250

12,334

Other debtors

-

734

18,250

13,068

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

8,000

-

Tax

17,898

12,319

Social security and other taxes

876

263

Other creditors

526

692

Directors' current accounts

2,136

6,657

29,436

19,931

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

27,333

20,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

35,333

20,000

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