Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01false1718truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03561199 2023-04-01 2024-03-31 03561199 2024-03-31 03561199 2022-04-01 2023-03-31 03561199 2023-03-31 03561199 c:Director1 2023-04-01 2024-03-31 03561199 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 03561199 d:Buildings d:LongLeaseholdAssets 2024-03-31 03561199 d:Buildings d:LongLeaseholdAssets 2023-03-31 03561199 d:PlantMachinery 2023-04-01 2024-03-31 03561199 d:PlantMachinery 2024-03-31 03561199 d:PlantMachinery 2023-03-31 03561199 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03561199 d:MotorVehicles 2023-04-01 2024-03-31 03561199 d:MotorVehicles 2024-03-31 03561199 d:MotorVehicles 2023-03-31 03561199 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03561199 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03561199 d:CurrentFinancialInstruments 2024-03-31 03561199 d:CurrentFinancialInstruments 2023-03-31 03561199 d:Non-currentFinancialInstruments 2024-03-31 03561199 d:Non-currentFinancialInstruments 2023-03-31 03561199 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03561199 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03561199 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03561199 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03561199 d:ShareCapital 2024-03-31 03561199 d:ShareCapital 2023-03-31 03561199 d:RetainedEarningsAccumulatedLosses 2024-03-31 03561199 d:RetainedEarningsAccumulatedLosses 2023-03-31 03561199 c:FRS102 2023-04-01 2024-03-31 03561199 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03561199 c:FullAccounts 2023-04-01 2024-03-31 03561199 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 03561199













Smile Radiance Limited

Financial statements
Information for filing with the registrar

31 March 2024




 
Smile Radiance Limited


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
296,260
277,319

  
296,260
277,319

Current assets
  

Stock
  
25,240
9,050

Debtors
 5 
1,064,501
837,531

Cash at bank and in hand
  
795,547
753,798

  
1,885,288
1,600,379

Creditors: amounts falling due within one year
 6 
(218,268)
(255,941)

Net current assets
  
 
 
1,667,020
 
 
1,344,438

Total assets less current liabilities
  
1,963,280
1,621,757

Creditors: amounts falling due after more than one year
 7 
(74,465)
-

Provisions for liabilities
  

Deferred tax
  
(37,256)
(34,572)

Net assets
  
1,851,559
1,587,185


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
1,851,359
1,586,985

Shareholders' funds
  
1,851,559
1,587,185


1

 
Smile Radiance Limited

    
Balance sheet (continued)
At 31 March 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2024.




Rachna Dattani
Director

Company registration number: 03561199
The notes on pages 3 to 8 form part of these financial statements.

2

 
Smile Radiance Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

Smile Radiance Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom, registered in England and Wales. The address of the registered office is 112 Pinner Road, Northwood, Middlesex, HA6 1BS, England.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover represents the value of orthodontic work performed during the period.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

3

 
Smile Radiance Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Long-term leasehold property
-
15%
reducing balance
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

4

 
Smile Radiance Limited
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 -18).

5

 
Smile Radiance Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost


At 1 April 2023
155,403
368,103
81,501
605,007


Additions
3,677
28,552
101,719
133,948


Disposals
-
(3,677)
(81,501)
(85,178)



At 31 March 2024

159,080
392,978
101,719
653,777



Depreciation


At 1 April 2023
67,186
244,202
16,300
327,688


Charge for the year
16,910
32,896
-
49,806


Disposals
(3,677)
-
(16,300)
(19,977)



At 31 March 2024

80,419
277,098
-
357,517



Net book value



At 31 March 2024
78,661
115,880
101,719
296,260



At 31 March 2023
88,217
123,901
65,201
277,319

6

 
Smile Radiance Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
986,846
689,845

Other debtors
69,843
141,847

Prepayments and accrued income
7,812
5,839

1,064,501
837,531



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Other loans
52,899
60,939

Corporation tax
128,232
123,684

Obligations under finance lease and hire purchase contracts
7,254
-

Other creditors
26,187
68,678

Accruals and deferred income
3,696
2,640

218,268
255,941



7.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
74,465
-

74,465
-



8.


Related party transactions

During the year the company operated an intercompany account with R & R Smile Limited to record amounts due to and from the company. At 31 March 2024 the amount owed by Smile Radiance Limited was £349,846 (2023: £349,846). 
During the year the company operated an intercompany account with Radiance Investment Ltd to record amounts due to and from the company. At 31 March 2024 the amount owed by Smile Radiance Limited was £637,000 (2023: £340,000).

7

 
Smile Radiance Limited
 
 

Notes to the financial statements
Year ended 31 March 2024

9.


Controlling party

The parent company of Smile Radiance Limited, is R & R Smile Limited, a company incorporated in England and Wales. R & R Smile Limited held 95% of the issued share capital in the company at the balance sheet date.
The ultimate controlling parties are Dr R Dattani and Dr RJ Dattani by virtue of a controlling stake in R & R Smile Limited.

 
8