Oral Creations Dental Laboratory Ltd - Period Ending 2016-03-31

Registration number: 06919542

Oral Creations Dental Laboratory Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Ashfield Accountancy Service
Suite 3a
Oriental Road
Woking
Surrey
GU22 7AH

Oral Creations Dental Laboratory Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Abbreviated Statutory Accounts of
Oral Creations Dental Laboratory Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oral Creations Dental Laboratory Ltd for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Oral Creations Dental Laboratory Ltd, as a body, in accordance with the terms of our engagement letterdated 9 July 2009. Our work has been undertaken solely to prepare for your approval the accounts of Oral Creations Dental Laboratory Ltd and state those matters that we have agreed to state to them, as a body, in this report and for no other purpose . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oral Creations Dental Laboratory Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oral Creations Dental Laboratory Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oral Creations Dental Laboratory Ltd. You consider that Oral Creations Dental Laboratory Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Oral Creations Dental Laboratory Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Ashfield Accountancy Service
Suite 3a
Oriental Road
Woking
Surrey
GU22 7AH

12 September 2016

Page 1

Oral Creations Dental Laboratory Ltd
(Registration number: 06919542)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					168,850			76,515
Current assets
Stocks					26,500			21,500
Debtors					189,469			246,963
Cash at bank and in hand					295,595			201,819
					511,564			470,282
Creditors: Amounts falling due within one year					(143,498)			(167,910)
Net current assets					368,066			302,372
Total assets less current liabilities					536,916			378,887
Creditors: Amounts falling due after more than one year					(73,853)			-
Net assets					463,063			378,887
Capital and reserves
Called up share capital		3			4			4
Profit and loss account					463,059			378,883
Shareholders' funds					463,063			378,887

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 12 September 2016 and signed on its behalf by:

.........................................
Mr Jan Truter Bothma
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Oral Creations Dental Laboratory Ltd
(Registration number: 06919542)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mr Dennis Mostert
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Oral Creations Dental Laboratory Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any residual value, over their expected useful economic life.

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance basis
Fixtures and fittings	25% reducing balance basis
Motor vehicles	25% reducing balance basis
Office equipment	25% reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Oral Creations Dental Laboratory Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		200,961			200,961
Additions		157,772			157,772
Disposals		(26,193)			(26,193)
At 31 March 2016		332,540			332,540
Depreciation
At 1 April 2015		124,446			124,446
Charge for the year		56,861			56,861
Eliminated on disposals		(17,617)			(17,617)
At 31 March 2016		163,690			163,690
Net book value
At 31 March 2016		168,850			168,850
At 31 March 2015		76,515			76,515

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £1 each		1			1			1			1
Ordinary B of £1 each		1			1			1			1
Ordinary C of £1 each		1			1			1			1
Ordinary D of £1 each		1			1			1			1
		4			4			4			4

Page 5