M.G. Dental Supplies Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01316980 (England and Wales)

M.G. DENTAL SUPPLIES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs M E D Gill

Mr M Gill

Mr D R Priestley

SECRETARY:

Mrs M E D Gill

REGISTERED OFFICE:

2 Bank Street

Brighouse

West Yorkshire

HD6 1BD

REGISTERED NUMBER:

01316980 (England and Wales)

ACCOUNTANTS:

Sheards

Chartered Accountants

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

FIXED ASSETS

Tangible assets

2

21,720

32,780

CURRENT ASSETS

Stocks

6,423

5,785

Debtors

3

110,804

116,191

Cash at bank

614,785

590,252

732,012

712,228

CREDITORS

Amounts falling due within one year

4

(557,153

)

(580,036

)

NET CURRENT ASSETS

174,859

132,192

TOTAL ASSETS LESS CURRENT
LIABILITIES

196,579

164,972

CREDITORS

Amounts falling due after more than one
year

4

(8,534

)

(22,780

)

PROVISIONS FOR LIABILITIES

(3,390

)

-

NET ASSETS

184,655

142,192

CAPITAL AND RESERVES

Called up share capital

5

7,500

Profit and loss account

177,155

134,692

SHAREHOLDERS' FUNDS

184,655

142,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 February 2017 and were signed on its behalf
by:

Mr M Gill - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

113,387

DEPRECIATION

At 1 May 2015

80,607

Charge for year

11,060

At 30 April 2016

91,667

NET BOOK VALUE

At 30 April 2016

21,720

At 30 April 2015

32,780

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 91,509 (2015 - £ 86,933 )

4.

CREDITORS

Creditors include an amount of £ 34,321 (2015 - £ 55,508 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

7,500

Ordinary Shares

1

7,500

6.	ULTIMATE PARENT COMPANY

Malcolm Gill Limited is regarded by the directors as being the company's ultimate parent company.