Smile Kent Ltd 09437747 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Dental Practice Digita Accounts Production Advanced 6.30.9574.0 true 09437747 2022-03-01 2023-02-28 09437747 2023-02-28 09437747 bus:OrdinaryShareClass1 2023-02-28 09437747 bus:OrdinaryShareClass2 2023-02-28 09437747 bus:OrdinaryShareClass3 2023-02-28 09437747 core:CurrentFinancialInstruments 2023-02-28 09437747 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09437747 core:Non-currentFinancialInstruments 2023-02-28 09437747 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 09437747 core:FurnitureFittings 2023-02-28 09437747 core:OfficeEquipment 2023-02-28 09437747 core:PlantMachinery 2023-02-28 09437747 bus:SmallEntities 2022-03-01 2023-02-28 09437747 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 09437747 bus:FullAccounts 2022-03-01 2023-02-28 09437747 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 09437747 bus:RegisteredOffice 2022-03-01 2023-02-28 09437747 bus:Director1 2022-03-01 2023-02-28 09437747 bus:Director2 2022-03-01 2023-02-28 09437747 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 09437747 bus:OrdinaryShareClass2 2022-03-01 2023-02-28 09437747 bus:OrdinaryShareClass3 2022-03-01 2023-02-28 09437747 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09437747 core:ComputerEquipment 2022-03-01 2023-02-28 09437747 core:FurnitureFittings 2022-03-01 2023-02-28 09437747 core:OfficeEquipment 2022-03-01 2023-02-28 09437747 core:PlantMachinery 2022-03-01 2023-02-28 09437747 countries:England 2022-03-01 2023-02-28 09437747 2022-02-28 09437747 core:FurnitureFittings 2022-02-28 09437747 core:OfficeEquipment 2022-02-28 09437747 core:PlantMachinery 2022-02-28 09437747 2021-03-01 2022-02-28 09437747 2022-02-28 09437747 bus:OrdinaryShareClass1 2022-02-28 09437747 bus:OrdinaryShareClass2 2022-02-28 09437747 bus:OrdinaryShareClass3 2022-02-28 09437747 core:CurrentFinancialInstruments 2022-02-28 09437747 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 09437747 core:Non-currentFinancialInstruments 2022-02-28 09437747 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 09437747 core:FurnitureFittings 2022-02-28 09437747 core:OfficeEquipment 2022-02-28 09437747 core:PlantMachinery 2022-02-28 09437747 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 09437747 bus:OrdinaryShareClass2 2021-03-01 2022-02-28 09437747 bus:OrdinaryShareClass3 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09437747

Smile Kent Ltd

trading as Smile Kent Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Smile Kent Ltd

trading as Smile Kent Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Smile Kent Ltd

trading as Smile Kent Limited

Company Information

Directors

Mrs Mary Short

Ms Caroline Short

Registered office

12 Liverymen Walk
Greenhithe
DA9 9GZ

Accountants

Elements Financial Solutions Limited
T/A AIMS Accountants for Business
2 Chalk Close
Dartford
Kent
DA1 1AN

 

Smile Kent Ltd

trading as Smile Kent Limited

(Registration number: 09437747)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

31,399

59,920

Current assets

 

Debtors

5

9,711

11,581

Cash at bank and in hand

 

201,655

196,831

 

211,366

208,412

Creditors: Amounts falling due within one year

6

(55,809)

(81,722)

Net current assets

 

155,557

126,690

Total assets less current liabilities

 

186,956

186,610

Creditors: Amounts falling due after more than one year

6

(45,825)

(47,039)

Net assets

 

141,131

139,571

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

141,031

139,471

Shareholders' funds

 

141,131

139,571

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 November 2023 and signed on its behalf by:
 

 

Smile Kent Ltd

trading as Smile Kent Limited

(Registration number: 09437747)
Balance Sheet as at 28 February 2023

.........................................
Ms Caroline Short
Director

 

Smile Kent Ltd

trading as Smile Kent Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
12 Liverymen Walk
Greenhithe
DA9 9GZ
England

These financial statements were authorised for issue by the Board on 30 November 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

 

Smile Kent Ltd

trading as Smile Kent Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet 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

25% Straight Line Method

Computer Equipment

25% Straight Line Method

Fixture and Fittings

20% Straight Line Method

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.

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.

Borrowings

 

Smile Kent Ltd

trading as Smile Kent Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 7).

 

Smile Kent Ltd

trading as Smile Kent Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2022

25,306

108,436

87,326

221,068

At 28 February 2023

25,306

108,436

87,326

221,068

Depreciation

At 1 March 2022

20,756

86,180

54,212

161,148

Charge for the year

1,726

9,003

17,792

28,521

At 28 February 2023

22,482

95,183

72,004

189,669

Carrying amount

At 28 February 2023

2,824

13,253

15,322

31,399

At 28 February 2022

4,550

22,256

33,114

59,920

5

Debtors

Current

2023
£

2022
£

Other debtors

9,711

11,581

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

1,060

15,005

Trade creditors

 

-

10,875

Taxation and social security

 

54,041

50,677

Other creditors

 

708

5,165

 

55,809

81,722

Creditors: amounts falling due after more than one year

 

Smile Kent Ltd

trading as Smile Kent Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

45,825

47,039

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordnary Shares A of £1 each

100

100

100

100

Ordnary Shares B of £1 each

1

1

1

1

Ordnary Shares C of £1 each

1

1

1

1

 

102

102

102

102

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

12,051

11,990

Other borrowings

33,774

35,049

45,825

47,039

 

Smile Kent Ltd

trading as Smile Kent Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

6,028

Other borrowings

1,060

8,977

1,060

15,005

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £Nil (2022 - £560.00) per each Ordnary Shares A

 

-

 

56,000

Interim dividend of £117,000.00 (2022 - £101,000.00) per each Ordnary Shares B

 

117,000

 

101,000

Interim dividend of £39,000.00 (2022 - £24,000.00) per each Ordnary Shares C

 

39,000

 

24,000

   

156,000

 

181,000

10

Related party transactions

 

Smile Kent Ltd

trading as Smile Kent Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

28,000

28,000