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Mckillop Dental Equipment Limited
For the year ended 31 October 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 02433132
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Mckillop Dental Equipment Limited
Accountants' Report
For the year ended 31 October 2016
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the
accounts of Mckillop Dental Equipment Limited for the year ended 31 October 2016 which comprise the Profit and
Loss Account, the Balance Sheet and the related notes from the company's accounting records and from
information and explanations you have given us.
As a practising firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other
professional requirements which are detailed at http://rulebook.accaglobal.com.
This report is made solely to the Board of Directors of Mckillop Dental Equipment Limited, as a body, in accordance
with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval
the accounts of Mckillop Dental Equipment Limited and state those matters that we have agreed to state to the
Board of Directors of Mckillop Dental Equipment Limited, as a body, in this report in accordance with the
requirements of the Association of Chartered Certified Accountants and as detailed at
http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than Mckillop Dental Equipment Limited and its Board of Directors as a body for our
work or for this report.
It is your duty to ensure that Mckillop Dental Equipment 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
Mckillop Dental Equipment Limited. You consider that Mckillop Dental Equipment Limited is exempt from the
statutory audit requirement for the year.
S.B.P. (Southport) Limited T/as S B Patel & Co
Tolsey House
1 Marshside Road
Churchtown
Southport
PR9 9TL
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Abbreviated Balance Sheet
Mckillop Dental Equipment Limited
As at 31 October 2016
02433132
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Tangible assets
2
35,028
43,786
35,028
43,786
Current assets
Stocks
59,428
51,434
Debtors
74,279
202,550
Cash at bank and in hand
140,303
154,728
394,287
288,435
Creditors: amounts falling due within one year
(258,557)
(367,222)
29,878
27,065
Net current assets
Total assets less current liabilities
62,093
73,664
Creditors: amounts falling due after more than one year
3
(90,043)
(30,248)
(6,804)
(8,060)
Provisions for liabilities
25,041
Net assets/liabilities
(24,439)
Capital and reserves
Called up share capital
2,250
2,250
Reserves
7,750
7,750
Profit and loss account
15,041
(34,439)
25,041
(24,439)
Shareholders funds
For the year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) 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.
Date approved by the board: 23 February 2017
Mr Simon Michael Pearce Director
Signed on behalf of the board of directors
Mrs Amanda Jane Pearce Director
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Notes to the Abbreviated Financial Statements
Mckillop Dental Equipment Limited
For the year ended 31 October 2016
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles
20% Reducing balance
Fixtures, Fittings & Equipment
20% Reducing balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Notes to the Abbreviated Financial Statements
Mckillop Dental Equipment Limited
For the year ended 31 October 2016
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
121,589
At 01 November 2015
2,184
Additions
(13,306)
Disposals
At 31 October 2016
110,467
Depreciation
77,803
At 01 November 2015
(11,120)
Disposals
8,756
Charge for year
75,439
At 31 October 2016
Net book values
At 31 October 2016
35,028
43,786
At 31 October 2015
2015
2016
3 Creditors due after more than one year
£
£
30,248
89,295
Bank loans and overdraft
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