2023-04-012024-03-312024-03-31false06033696Saving Faces 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Saving Faces Limited

Registered Number
06033696
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Saving Faces Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Dr Adam Hussain
Dr Isaac Hussain
Mrs Jacqueline Hussain

Company Secretary

Mrs Jacqueline Hussain

Registered Address

Fulford Lodge 1 Heslington Lane
Fulford
York
YO10 4HW

Registered Number

06033696 (England and Wales)
Saving Faces Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets325,06328,259
25,06328,259
Current assets
Stocks44,3404,340
Debtors118,32027,788
Cash at bank and on hand1,115,4061,180,983
1,238,0661,213,111
Creditors amounts falling due within one year5(961,013)(972,177)
Net current assets (liabilities)277,053240,934
Total assets less current liabilities302,116269,193
Creditors amounts falling due after one year6(10,164)(13,897)
Provisions for liabilities7(4,762)(3,409)
Net assets287,190251,887
Capital and reserves
Called up share capital11
Profit and loss account287,189251,886
Shareholders' funds287,190251,887
The financial statements were approved and authorised for issue by the Board of Directors on 8 October 2024, and are signed on its behalf by:
Dr Adam Hussain
Director
Dr Isaac Hussain
Director
Mrs Jacqueline Hussain
Director

Registered Company No. 06033696
Saving Faces Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Turnover policy
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year-end date is recognised by reference to the stage of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year77
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 23109,478200,593226,1453,886540,102
Additions-6,969-3,0229,991
At 31 March 24109,478207,562226,1456,908550,093
Depreciation and impairment
At 01 April 23109,478175,286226,145934511,843
Charge for year-12,212-97513,187
At 31 March 24109,478187,498226,1451,909525,030
Net book value
At 31 March 24-20,064-4,99925,063
At 31 March 23-25,307-2,95228,259
4.Stocks

2024

2023

££
Raw materials and consumables4,3404,340
Total4,3404,340
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables43,09161,671
Bank borrowings and overdrafts3,6353,365
Amounts owed to related parties900,000900,000
Taxation and social security12,6654,589
Other creditors128128
Accrued liabilities and deferred income1,4942,424
Total961,013972,177
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,16413,897
Total10,16413,897
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,7623,409
Total4,7623,409
8.Related party transactions
In the year, the directors made available a loan to the company of £128 (2023: £128).This loan is interest free and repayable upon demand.