Registered Number 02433132

MCKILLOP DENTAL EQUIPMENT LIMITED

Abbreviated Accounts

31 October 2015

MCKILLOP DENTAL EQUIPMENT LIMITED Registered Number 02433132

Abbreviated Balance Sheet as at 31 October 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 43,785 33,910
43,785 33,910
Current assets
Stocks 59,427 60,617
Debtors 74,279 71,991
Cash at bank and in hand 154,728 87,070
288,434 219,678
Creditors: amounts falling due within one year (258,555) (216,739)
Net current assets (liabilities) 29,879 2,939
Total assets less current liabilities 73,664 36,849
Creditors: amounts falling due after more than one year (90,043) (141,917)
Provisions for liabilities (8,060) (5,961)
Total net assets (liabilities) (24,439) (111,029)
Capital and reserves
Called up share capital 3 2,250 2,250
Other reserves 7,750 7,750
Profit and loss account (34,439) (121,029)
Shareholders' funds (24,439) (111,029)
  • For the year ending 31 October 2015 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 4 January 2016

And signed on their behalf by:
Amanda Jane Pearce, Director
Simon MIchael Pearce, Director

MCKILLOP DENTAL EQUIPMENT LIMITED Registered Number 02433132

Notes to the Abbreviated Accounts for the period ended 31 October 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The revenue shown in the Income Statement represents the amounts invoiced during the year excluding Value Added Tax. In respect of work in progress, revenue represents the value of work done in the year, including estimates of amounts not invoiced, which is recognised by reference to the stage of completion.

Tangible assets depreciation policy
Depreciation is provided on the cost of tangible fixed assets, in order to write off such cost after taking account of residual values over the expected useful lives as follows:
- Equipment, Fixtures & Fittings - 20% Reducing Balance
- Motor Vehicles - 20 % Reducing Balance

Other accounting policies
Hire Purchase Agreements - Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their cost value. The capital element of the future payments is treated as a liability and the interest is charged to the Income Statement on a straight line basis.
Operating Lease Agreements – Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on straight line basis over the period of the lease.
Inventory – Inventories have been stated at the lower of cost and net realisable value including those costs that have been incurred in bringing the inventory to its current location and condition.
Corporation Taxation - There is a provision for Corporation Tax for the year based upon the taxable profits at a rate of 20% as applicable to small company profits. No provision is considered necessary for Deferred Taxation.
Cash Flow Statement - The directors have elected to take advantage of the exemption in FRS Number 1 from the requirement to produce a cash flow statement on the grounds that the company qualifies as small under the Companies Act 2006.

2Tangible fixed assets
£
Cost
At 1 November 2014 100,767
Additions 20,822
Disposals -
Revaluations -
Transfers -
At 31 October 2015 121,589
Depreciation
At 1 November 2014 66,857
Charge for the year 10,947
On disposals -
At 31 October 2015 77,804
Net book values
At 31 October 2015 43,785
At 31 October 2014 33,910
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
2,250 Ordinary shares of £1 each 2,250 2,250