Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Justin Mark Young 08/08/2011 27 March 2024 The principal activity of the company during the financial year SC404919 2023-09-30 SC404919 bus:Director1 2023-09-30 SC404919 2022-09-30 SC404919 core:CurrentFinancialInstruments 2023-09-30 SC404919 core:CurrentFinancialInstruments 2022-09-30 SC404919 core:Non-currentFinancialInstruments 2023-09-30 SC404919 core:Non-currentFinancialInstruments 2022-09-30 SC404919 core:ShareCapital 2023-09-30 SC404919 core:ShareCapital 2022-09-30 SC404919 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC404919 core:RetainedEarningsAccumulatedLosses 2022-09-30 SC404919 core:Goodwill 2022-09-30 SC404919 core:Goodwill 2023-09-30 SC404919 core:LandBuildings 2022-09-30 SC404919 core:PlantMachinery 2022-09-30 SC404919 core:Vehicles 2022-09-30 SC404919 core:FurnitureFittings 2022-09-30 SC404919 core:OfficeEquipment 2022-09-30 SC404919 core:LandBuildings 2023-09-30 SC404919 core:PlantMachinery 2023-09-30 SC404919 core:Vehicles 2023-09-30 SC404919 core:FurnitureFittings 2023-09-30 SC404919 core:OfficeEquipment 2023-09-30 SC404919 bus:OrdinaryShareClass1 2023-09-30 SC404919 bus:OrdinaryShareClass2 2023-09-30 SC404919 2022-10-01 2023-09-30 SC404919 bus:FilletedAccounts 2022-10-01 2023-09-30 SC404919 bus:SmallEntities 2022-10-01 2023-09-30 SC404919 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC404919 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC404919 bus:Director1 2022-10-01 2023-09-30 SC404919 core:Goodwill core:TopRangeValue 2022-10-01 2023-09-30 SC404919 core:PlantMachinery core:TopRangeValue 2022-10-01 2023-09-30 SC404919 core:Vehicles 2022-10-01 2023-09-30 SC404919 core:FurnitureFittings core:TopRangeValue 2022-10-01 2023-09-30 SC404919 core:OfficeEquipment core:TopRangeValue 2022-10-01 2023-09-30 SC404919 2021-10-01 2022-09-30 SC404919 core:Goodwill 2022-10-01 2023-09-30 SC404919 core:LandBuildings 2022-10-01 2023-09-30 SC404919 core:PlantMachinery 2022-10-01 2023-09-30 SC404919 core:FurnitureFittings 2022-10-01 2023-09-30 SC404919 core:OfficeEquipment 2022-10-01 2023-09-30 SC404919 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 SC404919 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 SC404919 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 SC404919 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 SC404919 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC404919 (Scotland)

YOUNG SMILE DENTAL CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

YOUNG SMILE DENTAL CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023

Contents

YOUNG SMILE DENTAL CARE LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2023
YOUNG SMILE DENTAL CARE LIMITED

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 565,837 635,837
Tangible assets 4 184,108 208,460
749,945 844,297
Current assets
Stocks 6,942 6,942
Debtors 5 48,622 64,415
Cash at bank and in hand 7,210 68,087
62,774 139,444
Creditors: amounts falling due within one year 6 ( 349,886) ( 511,100)
Net current liabilities (287,112) (371,656)
Total assets less current liabilities 462,833 472,641
Creditors: amounts falling due after more than one year 7 ( 315,246) ( 354,955)
Net assets 147,587 117,686
Capital and reserves
Called-up share capital 8 150 150
Profit and loss account 147,437 117,536
Total shareholders' funds 147,587 117,686

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Young Smile Dental Care Limited (registered number: SC404919) were approved and authorised for issue by the Director on 27 March 2024. They were signed on its behalf by:

Justin Mark Young
Director
YOUNG SMILE DENTAL CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
YOUNG SMILE DENTAL CARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Young Smile Dental Care Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 1 Haughton Court, Alford, AB33 8DW, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 4 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 7 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 13 9

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2022 700,004 700,004
At 30 September 2023 700,004 700,004
Accumulated amortisation
At 01 October 2022 64,167 64,167
Charge for the financial year 70,000 70,000
At 30 September 2023 134,167 134,167
Net book value
At 30 September 2023 565,837 565,837
At 30 September 2022 635,837 635,837

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 October 2022 54,428 52,341 112,678 638 10,389 230,474
Additions 0 9,263 0 419 9,743 19,425
At 30 September 2023 54,428 61,604 112,678 1,057 20,132 249,899
Accumulated depreciation
At 01 October 2022 0 9,557 10,073 68 2,316 22,014
Charge for the financial year 0 14,114 25,651 129 3,883 43,777
At 30 September 2023 0 23,671 35,724 197 6,199 65,791
Net book value
At 30 September 2023 54,428 37,933 76,954 860 13,933 184,108
At 30 September 2022 54,428 42,784 102,605 570 8,073 208,460

5. Debtors

2023 2022
£ £
Trade debtors 41,362 55,446
Prepayments 7,260 8,969
48,622 64,415

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 14,933 14,257
Trade creditors 16,770 23,509
Amounts owed to director 189,487 368,363
Accruals and deferred income 32,465 35,461
Taxation and social security 61,147 20,489
Obligations under finance leases and hire purchase contracts 21,895 21,895
Other creditors 13,189 27,126
349,886 511,100

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 248,307 263,241
Obligations under finance leases and hire purchase contracts 66,939 91,714
315,246 354,955

The Royal Bank of Scotland have a fixed charge over the Unit 3 property of the company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each 100 100
50 B ordinary shares of £ 1.00 each 50 50
150 150

9. Related party transactions

During the year the director provided a loan to the company. At the balance sheet date, the company owed the director £189,487 (2022 - £368,363). The loan is unsecured, interest free and repayable on demand.