Dentine Issues Limited - Period Ending 2017-03-31
Dentine Issues Limited - Period Ending 2017-03-31
Registration number:
Dentine Issues Limited
for the Year Ended 31 March 2017
Accountants
8 The Courtyard
Goldsmith Way
Eliot Business Pk
Nuneaton
CV10 7RJ
Dentine Issues Limited
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Dentine Issues Limited
Company Information
Directors |
Mr Jodi Tabalotny Ms Katherine Jayne Ballenger |
Company secretary |
Mr David Zollo Mr Jodi Tabalotny |
Ms Katherine Jayne Ballenger |
Registered office |
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Accountants |
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Page 1 |
Dentine Issues Limited
Directors' Report for the Year Ended 31 March 2017
The directors present their report and the financial statements for the year ended 31 March 2017.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is the provision of goods, services and staff for the use by dental practices
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
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Mr Jodi Tabalotny
Director
Page 2 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dentine Issues Limited
for the Year Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dentine Issues Limited for the year ended 31 March 2017 as set out on pages 4 to 10 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 Dentine Issues Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dentine Issues Limited and state those matters that we have agreed to state to the Board of Directors of Dentine Issues Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dentine Issues Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Dentine Issues Limited 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 Dentine Issues Limited. You consider that Dentine Issues Limited 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 Dentine Issues Limited. 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.
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Accountants
Goldsmith Way
Eliot Business Pk
Nuneaton
CV10 7RJ
Page 3 |
Dentine Issues Limited
(Registration number: 04725687)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Page 4 |
Dentine Issues Limited
(Registration number: 04725687)
Balance Sheet as at 31 March 2017
Approved and authorised by the
.
.........................................
Mr Jodi Tabalotny
Director
Page 5 |
Dentine Issues Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
General information |
The company is a private company limited by share capital incorporated in England and wales.
The address of its registered office is:
The principal place of business is:
1 Back Street
Nuneaton
Warwickshire
CV11 4DG
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 6 |
Dentine Issues Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
50% straight line |
Fixtures, fittings and equipment |
25% straight line |
Computer equipment |
33% straight line |
Leasehold properties |
Straight line over the life of the lease |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Page 7 |
Dentine Issues Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2017 |
2016 |
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Depreciation expense |
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Page 8 |
Dentine Issues Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 April 2016 |
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
- |
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- |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
- |
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- |
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At 31 March 2016 |
- |
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- |
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Included within the net book value of land and buildings above is £ (2016 - £Nil) in respect of freehold land and buildings.
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2016 |
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Provision |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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Stocks |
2017 |
2016 |
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Raw materials and consumables |
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Page 9 |
Dentine Issues Limited
Notes to the Financial Statements for the Year Ended 31 March 2017
Debtors |
2017 |
2016 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Directors loan accounts |
8,453 |
12,109 |
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Other creditors |
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Transition to FRS 102 |
The previous financial statements for the year ended 31 March 2016 were prepared under UK GAAP.
The transition to FRS 102 (1A) have resulted in no changes in company profits, equity or accounting policies compared to those previously reported under UK GAAP.
Page 10 |