Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312022-11-25falseNo description of principal activity4truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14506404 2022-11-24 14506404 2022-11-25 2024-03-31 14506404 2021-11-25 2022-11-24 14506404 2024-03-31 14506404 c:Director2 2022-11-25 2024-03-31 14506404 d:PlantMachinery 2022-11-25 2024-03-31 14506404 d:PlantMachinery 2024-03-31 14506404 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-25 2024-03-31 14506404 d:FurnitureFittings 2022-11-25 2024-03-31 14506404 d:FurnitureFittings 2024-03-31 14506404 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-25 2024-03-31 14506404 d:OwnedOrFreeholdAssets 2022-11-25 2024-03-31 14506404 d:Goodwill 2022-11-25 2024-03-31 14506404 d:Goodwill 2024-03-31 14506404 d:CurrentFinancialInstruments 2024-03-31 14506404 d:Non-currentFinancialInstruments 2024-03-31 14506404 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14506404 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 14506404 d:ShareCapital 2024-03-31 14506404 d:RetainedEarningsAccumulatedLosses 2024-03-31 14506404 c:OrdinaryShareClass1 2022-11-25 2024-03-31 14506404 c:OrdinaryShareClass1 2024-03-31 14506404 c:OrdinaryShareClass2 2022-11-25 2024-03-31 14506404 c:OrdinaryShareClass2 2024-03-31 14506404 c:FRS102 2022-11-25 2024-03-31 14506404 c:AuditExempt-NoAccountantsReport 2022-11-25 2024-03-31 14506404 c:FullAccounts 2022-11-25 2024-03-31 14506404 c:PrivateLimitedCompanyLtd 2022-11-25 2024-03-31 14506404 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-11-25 2024-03-31 14506404 d:Goodwill d:OwnedIntangibleAssets 2022-11-25 2024-03-31 14506404 e:PoundSterling 2022-11-25 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 14506404









WIMPOLE STREET SMILE CLINIC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
WIMPOLE STREET SMILE CLINIC LIMITED
REGISTERED NUMBER: 14506404

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
Note
£
£

Fixed assets
  

Intangible assets
 4 
463,350

Tangible assets
 5 
31,983

  
495,333

Current assets
  

Stocks
  
1,500

Debtors: amounts falling due within one year
 6 
52,455

Cash at bank and in hand
 7 
750

  
54,705

Creditors: amounts falling due within one year
 8 
(391,820)

Net current liabilities
  
 
 
(337,115)

Total assets less current liabilities
  
158,218

Creditors: amounts falling due after more than one year
 9 
(255,985)

  

Net liabilities
  
(97,767)


Capital and reserves
  

Called up share capital 
 10 
100

Profit and loss account
  
(97,867)

Total equity
  
(97,767)


Page 1

 
WIMPOLE STREET SMILE CLINIC LIMITED
REGISTERED NUMBER: 14506404
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 income and retained earnings 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 by: 




................................................
K Patel
Director
Date: 25 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WIMPOLE STREET SMILE CLINIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Wimpole Street Smile Clinic Limited is a private company, limited by shares and incorporated in England and Wales. The registered office address is Aston House, Cornwall Avenue, London, N3 1LF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
WIMPOLE STREET SMILE CLINIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 income and retained earnings 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.

 
2.8

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.

Page 4

 
WIMPOLE STREET SMILE CLINIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance method
Fixtures and fittings
-
25%
Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WIMPOLE STREET SMILE CLINIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 4.

Page 6

 
WIMPOLE STREET SMILE CLINIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Intangible assets



Goodwill

£



Cost


Additions
510,109



At 31 March 2024

510,109



Amortisation


Charge for the period on owned assets
46,759



At 31 March 2024

46,759



Net book value



At 31 March 2024
463,350




5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


Additions
40,902
1,134
42,036



At 31 March 2024

40,902
1,134
42,036



Depreciation


Charge for the period on owned assets
9,899
154
10,053



At 31 March 2024

9,899
154
10,053



Net book value



At 31 March 2024
31,003
980
31,983

Page 7

 
WIMPOLE STREET SMILE CLINIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Debtors

2024
£


Trade debtors
8,339

Amounts owed by group undertakings
10,378

Other debtors
9,608

Prepayments and accrued income
24,130

52,455



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
750



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
43,201

Amounts owed to group undertakings
34,073

Other taxation and social security
3,361

Obligations under finance lease and hire purchase contracts
14,299

Other creditors
278,200

Accruals and deferred income
18,686

391,820



9.


Creditors: Amounts falling due after more than one year

2024
£

Net obligations under finance leases and hire purchase contracts
5,985

Other creditors
250,000

255,985


Page 8

 
WIMPOLE STREET SMILE CLINIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Share capital

2024
£
Allotted, called up and fully paid


80 ordinary A shares of £1.00 each
80
20 ordinary B shares of £1.00 each
20

100


On incorporation 100 ordinary shares of £1 each were issued at par to create the initial capital base of the company.


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,534. Contributions totalling £291 were payable to the fund at the balance sheet date and are included in creditors.


12.


Controlling party

The immediate parent undertakings is SCG BRB Limited. The registered office of SCG BRB Limited is Aston House, Cornwall Avenue, London, N3 1LF.
The ultimate parent undertakings is Smile Clinic Group Holdings Limited. The registered office of Smile Clinic Group Holdings Limited is Aston House, Cornwall Avenue, London, N3 1LF.

 
Page 9