20 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 485,000 303,125 24,250 327,375 157,625 181,875 xbrli:pure xbrli:shares iso4217:GBP 06905096 2022-04-01 2023-03-31 06905096 2023-03-31 06905096 2022-03-31 06905096 2021-04-01 2022-03-31 06905096 2022-03-31 06905096 core:NetGoodwill 2022-04-01 2023-03-31 06905096 core:LandBuildings core:LongLeaseholdAssets 2022-04-01 2023-03-31 06905096 core:PlantMachinery 2022-04-01 2023-03-31 06905096 core:FurnitureFittings 2022-04-01 2023-03-31 06905096 core:MotorVehicles 2022-04-01 2023-03-31 06905096 bus:Director1 2022-04-01 2023-03-31 06905096 core:NetGoodwill 2022-03-31 06905096 core:NetGoodwill 2023-03-31 06905096 core:LandBuildings 2022-03-31 06905096 core:PlantMachinery 2022-03-31 06905096 core:FurnitureFittings 2022-03-31 06905096 core:MotorVehicles 2022-03-31 06905096 core:LandBuildings 2023-03-31 06905096 core:PlantMachinery 2023-03-31 06905096 core:FurnitureFittings 2023-03-31 06905096 core:MotorVehicles 2023-03-31 06905096 core:LandBuildings 2022-04-01 2023-03-31 06905096 core:WithinOneYear 2023-03-31 06905096 core:WithinOneYear 2022-03-31 06905096 core:AfterOneYear 2023-03-31 06905096 core:AfterOneYear 2022-03-31 06905096 core:ShareCapital 2023-03-31 06905096 core:ShareCapital 2022-03-31 06905096 core:RetainedEarningsAccumulatedLosses 2023-03-31 06905096 core:RetainedEarningsAccumulatedLosses 2022-03-31 06905096 core:NetGoodwill 2022-03-31 06905096 core:LandBuildings 2022-03-31 06905096 core:PlantMachinery 2022-03-31 06905096 core:FurnitureFittings 2022-03-31 06905096 core:MotorVehicles 2022-03-31 06905096 bus:Director1 2022-03-31 06905096 bus:Director1 2023-03-31 06905096 bus:Director1 2021-03-31 06905096 bus:Director1 2022-03-31 06905096 bus:Director1 2021-04-01 2022-03-31 06905096 bus:SmallEntities 2022-04-01 2023-03-31 06905096 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06905096 bus:FullAccounts 2022-04-01 2023-03-31 06905096 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06905096 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 06905096
Smile Design Centre Limited
Filleted Unaudited Financial Statements
31 March 2023
Smile Design Centre Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
157,625
181,875
Tangible assets
6
83,929
48,704
---------
---------
241,554
230,579
Current assets
Debtors
7
146,681
38,041
Cash at bank and in hand
244,669
385,419
---------
---------
391,350
423,460
Creditors: amounts falling due within one year
8
149,693
195,814
---------
---------
Net current assets
241,657
227,646
---------
---------
Total assets less current liabilities
483,211
458,225
Creditors: amounts falling due after more than one year
9
23,626
33,315
Provisions
Taxation including deferred tax
15,916
10,822
---------
---------
Net assets
443,669
414,088
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
443,569
413,988
---------
---------
Shareholders funds
443,669
414,088
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Smile Design Centre Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 24 January 2024 , and are signed on behalf of the board by:
Mr H Moti
Director
Company registration number: 06905096
Smile Design Centre Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 286 Aylestone Road, Leicester, LE2 7QT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for dental services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
15% straight line
Plant & machinery
-
15% reducing balance
Fixture & fittings
-
20% reducing balance
Motor Vehicles
-
33% reducing balance
Office equipment
-
30 % reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2022: 21 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
485,000
---------
Amortisation
At 1 April 2022
303,125
Charge for the year
24,250
---------
At 31 March 2023
327,375
---------
Carrying amount
At 31 March 2023
157,625
---------
At 31 March 2022
181,875
---------
Goodwill arose upon the incorporation of the business and when trade commenced on 1st October 2009.
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Apr 2022
171,300
90,919
29,024
31,799
26,486
349,528
Additions
27,481
48,500
293
76,274
Disposals
( 31,799)
( 31,799)
---------
---------
--------
--------
--------
---------
At 31 Mar 2023
171,300
118,400
29,024
48,500
26,779
394,003
---------
---------
--------
--------
--------
---------
Depreciation
At 1 Apr 2022
171,191
66,891
23,654
17,524
21,564
300,824
Charge for the year
109
7,726
1,190
20,716
1,744
31,485
Disposals
( 22,235)
( 22,235)
---------
---------
--------
--------
--------
---------
At 31 Mar 2023
171,300
74,617
24,844
16,005
23,308
310,074
---------
---------
--------
--------
--------
---------
Carrying amount
At 31 Mar 2023
43,783
4,180
32,495
3,471
83,929
---------
---------
--------
--------
--------
---------
At 31 Mar 2022
109
24,028
5,370
14,275
4,922
48,704
---------
---------
--------
--------
--------
---------
7. Debtors
2023
2022
£
£
Trade debtors
66,533
38,041
Other debtors
80,148
---------
--------
146,681
38,041
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,558
11,724
Trade creditors
82,800
44,488
Corporation tax
26,404
46,383
Social security and other taxes
2,498
2,216
Other creditors
28,438
Other creditors
28,433
62,565
---------
---------
149,693
195,814
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
23,626
33,315
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr H Moti
( 61,315)
243,951
( 102,488)
80,148
--------
---------
---------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr H Moti
( 61,765)
300,003
( 299,553)
( 61,315)
--------
---------
---------
--------
11. Related party transactions
During the year the company received an interest free loan repayable on demand to a related party. The balance outstanding at the end of the year was £72 (2022: amount payable £72).