Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.075392082023-04-01false98falsetrue 07539208 2023-04-01 2024-03-31 07539208 2024-03-31 07539208 2022-04-01 2023-03-31 07539208 2023-03-31 07539208 c:Director1 2023-04-01 2024-03-31 07539208 c:RegisteredOffice 2023-04-01 2024-03-31 07539208 d:Buildings 2023-04-01 2024-03-31 07539208 d:Buildings 2024-03-31 07539208 d:Buildings 2023-03-31 07539208 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07539208 d:PlantMachinery 2023-04-01 2024-03-31 07539208 d:PlantMachinery 2024-03-31 07539208 d:PlantMachinery 2023-03-31 07539208 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07539208 d:MotorVehicles 2023-04-01 2024-03-31 07539208 d:MotorVehicles 2024-03-31 07539208 d:MotorVehicles 2023-03-31 07539208 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07539208 d:ComputerEquipment 2023-04-01 2024-03-31 07539208 d:ComputerEquipment 2024-03-31 07539208 d:ComputerEquipment 2023-03-31 07539208 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07539208 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07539208 d:Goodwill 2023-04-01 2024-03-31 07539208 d:Goodwill 2024-03-31 07539208 d:Goodwill 2023-03-31 07539208 d:CurrentFinancialInstruments 2024-03-31 07539208 d:CurrentFinancialInstruments 2023-03-31 07539208 d:Non-currentFinancialInstruments 2024-03-31 07539208 d:Non-currentFinancialInstruments 2023-03-31 07539208 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07539208 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07539208 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07539208 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07539208 d:ShareCapital 2024-03-31 07539208 d:ShareCapital 2023-03-31 07539208 d:RetainedEarningsAccumulatedLosses 2024-03-31 07539208 d:RetainedEarningsAccumulatedLosses 2023-03-31 07539208 c:FRS102 2023-04-01 2024-03-31 07539208 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07539208 c:FullAccounts 2023-04-01 2024-03-31 07539208 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 07539208













Smile Freely (Thame) Ltd

Financial statements
Information for filing with the registrar

31 March 2024




 
Smile Freely (Thame) Ltd
 
 
Company information


Director
Dr A N H Conradi 




Registered number
07539208



Registered office
Park Street Dental Clinic
34 Park Street

Oxfordshire

OX9 3HR




Accountants
UNW LLP
Chartered Accountants

Citygate

St James' Boulevard

Newcastle upon Tyne

NE1 4JE





 
Smile Freely (Thame) Ltd
 
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Smile Freely (Thame) Ltd year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Smile Freely (Thame) Ltd for the year ended 31 March 2024 which comprise  the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Smile Freely (Thame) Ltd in accordance with the terms of our engagement letter dated [date]Our work has been undertaken solely to prepare for your approval the financial statements of Smile Freely (Thame) Ltd  and state those matters that we have agreed to state to the director of Smile Freely (Thame) Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Smile Freely (Thame) Ltd and its director for our work or for this report. 

It is your duty to ensure that Smile Freely (Thame) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Smile Freely (Thame) Ltd. You consider that Smile Freely (Thame) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Smile Freely (Thame) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



UNW LLP
Chartered Accountants
Citygate
St James' Boulevard
Newcastle upon Tyne
NE1 4JE
13 September 2024
1

 
Smile Freely (Thame) Ltd


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
  
108,037
97,745

  
108,037
97,745

Current assets
  

Stocks
  
35,695
31,170

Debtors
 6 
89,045
3,761

Cash at bank and in hand
  
91,293
98,212

  
216,033
133,143

Creditors: amounts falling due within one year
 7 
(102,311)
(87,801)

Net current assets
  
 
 
113,722
 
 
45,342

Total assets less current liabilities
  
221,759
143,087

Creditors: amounts falling due after more than one year
 8 
(30,790)
(51,093)

Provisions for liabilities
  

Deferred tax
  
(26,603)
(24,012)

  
 
 
(26,603)
 
 
(24,012)

Net assets
  
164,366
67,982


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
164,266
67,882

Shareholders' funds
  
164,366
67,982

2

 
Smile Freely (Thame) Ltd

    
Balance sheet (continued)
At 31 March 2024

The director considers 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 director acknowledges his 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 13 September 2024.




Dr Adam Nigel Hammond Conradi
Director

Registered number: 07539208
The notes on pages 4 to 8 form part of these financial statements. 
3

 
Smile Freely (Thame) Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

Smily Freely (Thame) Ltd ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is given in the company information page of this annual report.

2.Accounting policies

  
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard' applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies act 2006.

 
2.2

Revenue

The turnover shown in the profit and loss accounts represents dental fee income receivable 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.

4

 
Smile Freely (Thame) Ltd
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Depreciation is provided on the following basis:

Property improvements
-
25%
reducing balance
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Computer equipment
-
33%
straight line

 
2.6

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.

5

 
Smile Freely (Thame) Ltd
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023: 8).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
294,858



At 31 March 2024

294,858



Amortisation


At 1 April 2023
294,858



At 31 March 2024

294,858



Net book value



At 31 March 2024
-



At 31 March 2023
-



6

 
Smile Freely (Thame) Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
74,059
162,437
52,409
6,524
295,429


Additions
-
33,507
-
5,545
39,052



At 31 March 2024

74,059
195,944
52,409
12,069
334,481



Depreciation


At 1 April 2023
62,041
117,309
14,762
3,572
197,684


Charge for the year
3,004
14,171
9,412
2,173
28,760



At 31 March 2024

65,045
131,480
24,174
5,745
226,444



Net book value



At 31 March 2024
9,014
64,464
28,235
6,324
108,037



At 31 March 2023
12,018
45,128
37,647
2,952
97,745


6.


Debtors

2024
2023
£
£


Other debtors
84,652
2,506

Prepayments
4,393
1,255

89,045
3,761


7

 
Smile Freely (Thame) Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
16,496
17,027

Trade creditors
20,485
16,235

Corporation tax
49,821
36,855

Other taxation and social security
2,231
2,782

Obligations under finance lease and hire purchase contracts
5,040
5,721

Other creditors
3,323
3,951

Accruals and deferred income
4,915
5,230

102,311
87,801



8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
22,390
37,653

Net obligations under finance leases and hire purchase contracts
8,400
13,440

30,790
51,093


 
8