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REGISTERED NUMBER: SC670381 (Scotland)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Smile Clinic Center Limited

Smile Clinic Center Limited (Registered number: SC670381)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smile Clinic Center Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Dr. D S K Kalsi
Dr. J Wardell





REGISTERED OFFICE: Comely Bank Dental Practice
3 Comely Bank
Edinburgh
EH4 1AN





REGISTERED NUMBER: SC670381 (Scotland)





ACCOUNTANTS: Dental Accountants Scotland Ltd
Specialist Dental Accountants & Advisors
Cornerstone House
Station Road
Selkirk
Borders
TD7 5DJ

Smile Clinic Center Limited (Registered number: SC670381)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 527,200 593,100
Tangible assets 5 104,715 114,434
631,915 707,534

CURRENT ASSETS
Stocks 1,500 25,000
Debtors 6 260,679 141,905
Cash at bank and in hand 25,369 44,368
287,548 211,273
CREDITORS
Amounts falling due within one year 7 189,417 180,962
NET CURRENT ASSETS 98,131 30,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

730,046

737,845

CREDITORS
Amounts falling due after more than one year 8 (460,179 ) (480,857 )

PROVISIONS FOR LIABILITIES 10 (23,471 ) -
NET ASSETS 246,396 256,988

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 246,296 256,888
SHAREHOLDERS' FUNDS 246,396 256,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Smile Clinic Center Limited (Registered number: SC670381)

Balance Sheet - continued
30 November 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





Dr. D S K Kalsi - Director


Smile Clinic Center Limited (Registered number: SC670381)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Smile Clinic Center Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Smile Clinic Center Limited (Registered number: SC670381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 659,000
AMORTISATION
At 1 December 2022 65,900
Amortisation for year 65,900
At 30 November 2023 131,800
NET BOOK VALUE
At 30 November 2023 527,200
At 30 November 2022 593,100

Smile Clinic Center Limited (Registered number: SC670381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 December 2022 120,739 760 6,213 127,712
Additions 17,713 4,752 4,027 26,492
At 30 November 2023 138,452 5,512 10,240 154,204
DEPRECIATION
At 1 December 2022 12,547 90 641 13,278
Charge for year 31,476 1,355 3,380 36,211
At 30 November 2023 44,023 1,445 4,021 49,489
NET BOOK VALUE
At 30 November 2023 94,429 4,067 6,219 104,715
At 30 November 2022 108,192 670 5,572 114,434

6. DEBTORS
30.11.23 30.11.22
£    £   
Amounts falling due within one year:
Trade debtors 1,563 2,713
Amounts owed by group undertakings 162,257 137,692
Other debtors 1,500 1,500
Directors' current accounts 71,297 -
236,617 141,905

Amounts falling due after more than one year:
Tax 24,062 -

Aggregate amounts 260,679 141,905

Smile Clinic Center Limited (Registered number: SC670381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 9) 21,219 21,916
Trade creditors 20,703 89,620
Tax 89,630 40,491
Social security and other taxes 2,596 11,252
Net Wages - 1,690
Pension control 416 324
Credit card 46 14,292
Directors' current accounts 89 531
Accruals and deferred income 47,058 -
Accrued expenses 7,660 846
189,417 180,962

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 9) 460,179 480,857

9. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 21,219 21,916

Amounts falling due between one and two years:
Bank loans - 1-2 years 460,179 480,857

10. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 23,471 -

Deferred
tax
£   
Provided during year 23,471
Balance at 30 November 2023 23,471

Smile Clinic Center Limited (Registered number: SC670381)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
Dr. D S K Kalsi
Balance outstanding at start of year - -
Amounts advanced 71,296 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,296 -

Dr. J Wardell
Balance outstanding at start of year - -
Amounts repaid (88 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (88 ) -

The directors loan account balance was repaid shortly after the yearend. Interest has been charged at the average rate of 2.25% per annum.