PFM Dental Sales and Valuations Limited Filleted accounts for Companies House (small and micro)

PFM Dental Sales and Valuations Limited Filleted accounts for Companies House (small and micro)

PFM DENTAL SALES AND VALUATIONS LIMITED - Company Information

Print Friendly Version

7 false false false false false false false false false true false false false false false false No description of principal activity 2021-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 14,472 3,376 1,447 4,823 9,649 11,096 10,367 3,520 1,712 5,232 5,135 6,847 xbrli:pure xbrli:shares iso4217:GBP 11196146 2021-03-01 2022-02-28 11196146 2022-02-28 11196146 2021-02-28 11196146 2020-03-01 2021-02-28 11196146 2021-02-28 11196146 bus:Director2 2021-03-01 2022-02-28 11196146 bus:Director3 2021-03-01 2022-02-28 11196146 bus:Director4 2021-03-01 2022-02-28 11196146 core:WithinOneYear 2022-02-28 11196146 core:WithinOneYear 2021-02-28 11196146 core:ShareCapital 2022-02-28 11196146 core:ShareCapital 2021-02-28 11196146 core:RetainedEarningsAccumulatedLosses 2022-02-28 11196146 core:RetainedEarningsAccumulatedLosses 2021-02-28 11196146 bus:SmallEntities 2021-03-01 2022-02-28 11196146 bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 11196146 bus:FullAccounts 2021-03-01 2022-02-28 11196146 bus:SmallCompaniesRegimeForAccounts 2021-03-01 2022-02-28 11196146 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 11196146 core:CustomerRelationships 2021-03-01 2022-02-28 11196146 core:OfficeEquipment 2021-03-01 2022-02-28 11196146 core:CustomerRelationships 2022-02-28 11196146 core:CustomerRelationships 2021-02-28 11196146 core:OfficeEquipment 2022-02-28 11196146 core:OfficeEquipment 2021-02-28 11196146 core:KeyManagementIndividualGroup1 2021-03-01 2022-02-28 11196146 core:KeyManagementIndividualGroup1 2022-02-28
COMPANY REGISTRATION NUMBER: 11196146
PFM Dental Sales and Valuations Limited
Filleted Unaudited Financial Statements
For the year ended
28 February 2022
PFM Dental Sales and Valuations Limited
Statement of Financial Position
28 February 2022
2022
2021
Note
£
£
£
£
Fixed assets
Intangible assets
5
9,649
11,096
Tangible assets
6
5,135
6,847
--------
--------
14,784
17,943
Current assets
Debtors
7
314,055
114,497
Cash at bank and in hand
804,582
406,519
-------------
----------
1,118,637
521,016
Creditors: amounts falling due within one year
8
( 364,109)
( 184,823)
-------------
----------
Net current assets
754,528
336,193
----------
----------
Total assets less current liabilities
769,312
354,136
----------
----------
Net assets
769,312
354,136
----------
----------
Capital and reserves
Called up share capital
16,572
16,572
Profit and loss account
752,740
337,564
----------
----------
Shareholders funds
769,312
354,136
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PFM Dental Sales and Valuations Limited
Statement of Financial Position (continued)
28 February 2022
These financial statements were approved by the board of directors and authorised for issue on 11 May 2022 , and are signed on behalf of the board by:
Mr J A Fearn
Mr J R Drysdale
Director
Director
Mr M P Bradshaw
Director
Company registration number: 11196146
PFM Dental Sales and Valuations Limited
Notes to the Financial Statements
Year ended 28 February 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 62 Skeldergate, York, YO1 6WN, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the provision of services is recognised when the amount can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Income from Limited Liability Partnerships in which the company is a partner is recognised in the period to which it arises. (c) Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively . Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date . Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference . (d) Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses .
(e) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Customer database
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(f) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% reducing balance
(h) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date .
(i) Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
(j) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities .
(k) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2021: 7 ).
5. Intangible assets
Customer database
£
Cost
At 1 March 2021 and 28 February 2022
14,472
--------
Amortisation
At 1 March 2021
3,376
Charge for the year
1,447
--------
At 28 February 2022
4,823
--------
Carrying amount
At 28 February 2022
9,649
--------
At 28 February 2021
11,096
--------
6. Tangible assets
Office equipment
£
Cost
At 1 March 2021 and 28 February 2022
10,367
--------
Depreciation
At 1 March 2021
3,520
Charge for the year
1,712
--------
At 28 February 2022
5,232
--------
Carrying amount
At 28 February 2022
5,135
--------
At 28 February 2021
6,847
--------
7. Debtors
2022
2021
£
£
Trade debtors
181,055
2,597
Other debtors
133,000
111,900
----------
----------
314,055
114,497
----------
----------
8. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
2,443
2,269
Accruals
19,483
6,233
Corporation tax
150,308
44,100
Social security and other taxes
76,119
21,465
Director loan accounts
5,000
–
Other creditors
110,756
110,756
----------
----------
364,109
184,823
----------
----------
9. Related party transactions
During the year a director made available a loan to the company. The loan was interest free and repayable on demand . At the year end date the balance due to the director totalled £ 5,000 (2021 - £nil).