Year Ended
Registration number:
Smile Together Commercial Limited
Contents
Company Information |
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Director's Report |
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Balance Sheet |
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Notes to the Financial Statements |
Smile Together Commercial Limited
Company Information
Director |
Victoria Johnson |
Registered office |
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Accountants |
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Smile Together Commercial Limited
Director's Report for the Year Ended 31 March 2024
The director presents her report and the financial statements for the year ended 31 March 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is the rental of commercial property.
Going concern
The directors acknowledge the company’s net current liability position of £-332,592 (2023: £-279,414) at the balance sheet date together with its result for the year. The result and position seen reflect the nature of the company – which is an asset holding company that generates little income.
Assurances have been obtained from the parent company, Smile Together Dental CIC, that financial support can and will be provided, as needed, including not calling the intercompany debts in until the company is in a position to afford it. With these assurances, the directors have been able to satisfy themselves that the company is able to continue in operational existence and remain financially viable.
Not withstanding the above comments, the directors are currently considering various options for the property and site. In the opinion of the directors, the property value is deemed to represent the expected recoverable amount.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Smile Together Commercial Limited
Balance Sheet
31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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- |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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( |
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Shareholders' funds |
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- |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 10751601
Smile Together Commercial Limited
Notes to the Financial Statements
Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The directors acknowledge the company’s net current liability position of £-332,592 (2023: £-279,414) at the balance sheet date together with its result for the year. The result and position seen reflect the nature of the company – which is an asset holding company that generates little income.
Assurances have been obtained from the parent company, Smile Together Dental CIC, that financial support can and will be provided, as needed, including not calling the intercompany debts in until the company is in a position to afford it. With these assurances, the directors have been able to satisfy themselves that the company is able to continue in operational existence and remain financially viable.
Not withstanding the above comments, the directors are currently considering various options for the property and site. In the opinion of the directors, the property value is deemed to represent the expected recoverable amount.
Smile Together Commercial Limited
Notes to the Financial Statements
Year Ended 31 March 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investment property
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investment properties |
2024 |
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At 1 April |
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Fair value adjustments |
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At 31 March |
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A valuation was carried out by Vickery Holman during March 2024 and this has been used as a basis of determining the fair value of the investment property as at 31 March 2024.
Smile Together Commercial Limited
Notes to the Financial Statements
Year Ended 31 March 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts due to group undertakings |
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Accrued expenses |
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Deferred income |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £1 each |
100 |
100 |
100 |
100 |
Related party transactions |
The company has taken advantage of the exemption in FRS 102 “Related Party Disclosures” from disclosing transactions with other wholly owned members of the Smile Together Dental CIC Group.
Parent and ultimate parent undertaking |
Smile Together Commercial Limited
Notes to the Financial Statements
Year Ended 31 March 2024
Audit report |