9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 796,281 258,666 79,628 338,294 457,987 537,615 xbrli:pure xbrli:shares iso4217:GBP 12298913 2023-04-01 2024-03-31 12298913 2024-03-31 12298913 2023-03-31 12298913 2022-04-01 2023-03-31 12298913 2023-03-31 12298913 2022-03-31 12298913 core:NetGoodwill 2023-04-01 2024-03-31 12298913 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 12298913 core:PlantMachinery 2023-04-01 2024-03-31 12298913 bus:Director1 2023-04-01 2024-03-31 12298913 core:NetGoodwill 2023-03-31 12298913 core:NetGoodwill 2024-03-31 12298913 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 12298913 core:PlantMachinery 2023-03-31 12298913 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 12298913 core:PlantMachinery 2024-03-31 12298913 core:WithinOneYear 2024-03-31 12298913 core:WithinOneYear 2023-03-31 12298913 core:AfterOneYear 2023-03-31 12298913 core:ShareCapital 2024-03-31 12298913 core:ShareCapital 2023-03-31 12298913 core:RetainedEarningsAccumulatedLosses 2024-03-31 12298913 core:RetainedEarningsAccumulatedLosses 2023-03-31 12298913 core:NetGoodwill 2023-03-31 12298913 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 12298913 core:PlantMachinery 2023-03-31 12298913 bus:SmallEntities 2023-04-01 2024-03-31 12298913 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12298913 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12298913 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12298913 bus:FullAccounts 2023-04-01 2024-03-31 12298913 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 12298913 core:OtherPropertyPlantEquipment 2023-03-31 12298913 core:OtherPropertyPlantEquipment 2024-03-31 12298913 core:AfterOneYear 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 12298913
SmileOne (Albion) Limited
Unaudited financial statements
31 March 2024
SmileOne (Albion) Limited
Statement of financial position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
457,987
537,615
Tangible assets
6
40,943
47,336
---------
---------
498,930
584,951
Current assets
Stocks
5,500
5,500
Debtors
7
77,597
101,205
Cash at bank and in hand
29,495
32,276
---------
---------
112,592
138,981
Creditors: Amounts falling due within one year
8
( 1,053,177)
( 716,704)
-----------
---------
Net current liabilities
( 940,585)
( 577,723)
---------
---------
Total assets less current liabilities
( 441,655)
7,228
Creditors: Amounts falling due after more than one year
9
( 371,038)
Provisions
Taxation including deferred tax
( 10,236)
( 9,695)
---------
---------
Net liabilities
( 451,891)
( 373,505)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 451,892)
( 373,506)
---------
---------
Shareholders deficit
( 451,891)
( 373,505)
---------
---------
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 income statement has not been delivered.
For the year ending 31 March 2024 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 .
SmileOne (Albion) Limited
Statement of financial position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
Dr R Siva
Director
Company registration number: 12298913
SmileOne (Albion) Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Sandwell Crescent, London, NW6 1PB, England. The trading address is 7 Albion Street, Lewes, East Sussex, BN7 2ND, England.
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 measured at fair value through profit or loss.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Amortisation of goodwill is estimated over 10 years. The carrying value at the year end was £457,987 (2023: £537,615).
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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
-
10% 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.
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:
Long leasehold property
-
2% reducing balance
Plant and machinery
-
25% reducing balance
Improvements to property
-
2% reducing balance
Stocks
Stocks are measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 9 (2023: 8 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
796,281
---------
Amortisation
At 1 April 2023
258,666
Charge for the year
79,628
---------
At 31 March 2024
338,294
---------
Carrying amount
At 31 March 2024
457,987
---------
At 31 March 2023
537,615
---------
6. Tangible assets
Long leasehold property
Plant and machinery
Property improve'ts
Total
£
£
£
£
Cost
At 1 April 2023
7,429
48,991
20,271
76,691
Additions
3,119
3,119
Disposals
( 2,000)
( 2,000)
------
-------
-------
-------
At 31 March 2024
7,429
50,110
20,271
77,810
------
-------
-------
-------
Depreciation
At 1 April 2023
1,039
26,289
2,027
29,355
Charge for the year
639
6,257
1,825
8,721
Disposals
( 1,209)
( 1,209)
------
-------
-------
-------
At 31 March 2024
1,678
31,337
3,852
36,867
------
-------
-------
-------
Carrying amount
At 31 March 2024
5,751
18,773
16,419
40,943
------
-------
-------
-------
At 31 March 2023
6,390
22,702
18,244
47,336
------
-------
-------
-------
7. Debtors
2024
2023
£
£
Trade debtors
12,020
14,444
Other debtors
65,577
86,761
-------
---------
77,597
101,205
-------
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
373,788
33,000
Trade creditors
51,681
61,784
Social security and other taxes
19,335
13,599
NHS clawback
59,095
Other creditors
608,373
549,226
-----------
---------
1,053,177
716,704
-----------
---------
Bank loans and overdrafts are secured by the company.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
371,038
----
---------
Bank loans and overdrafts are secured by the company. Included within creditors: amounts falling due after more than one year is an amount of £nil (2023: £225,288) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10. Related party transactions
SmileOne Limited is a related party due to the fact that they are the sole shareholder of SmileOne (Albion) Limited . The balance payable to SmileOne Limited from SmileOne (Albion) Limited at the year end is £137,836 (2023: £139,446). SmileOne Care Limited is a related party due to the fact that their sole shareholder is SmileOne Limited. The balance payable to SmileOne Care Limited from SmileOne (Albion) Limited at the year end is £288,474 (2023: £208,370).