2023-04-012024-03-312024-03-31false06934724Smile Clinic UK 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Smile Clinic UK Limited

Registered Number
06934724
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Smile Clinic UK 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

06934724 (England and Wales)
Smile Clinic UK Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3513,240581,280
Tangible assets447,23631,112
560,476612,392
Current assets
Stocks52,8002,800
Debtors742,229788,877
Cash at bank and on hand1,212,4211,129,196
1,957,4501,920,873
Creditors amounts falling due within one year6(392,497)(383,959)
Net current assets (liabilities)1,564,9531,536,914
Total assets less current liabilities2,125,4292,149,306
Creditors amounts falling due after one year7(6,033)-
Provisions for liabilities8(8,975)(5,911)
Net assets2,110,4212,143,395
Capital and reserves
Called up share capital22
Profit and loss account2,110,4192,143,393
Shareholders' funds2,110,4212,143,395
The financial statements were approved and authorised for issue by the Board of Directors on 16 October 2024, and are signed on its behalf by:
Dr Adam Hussain
Director
Dr Isaac Hussain
Director
Mrs Jacqueline Hussain
Director

Registered Company No. 06934724
Smile Clinic UK 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.
Intangible assets
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.
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:

Reducing balance (%)
Plant and machinery20
Office Equipment20
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 year1414
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 231,360,8001,360,800
At 31 March 241,360,8001,360,800
Amortisation and impairment
At 01 April 23779,520779,520
Charge for year68,04068,040
At 31 March 24847,560847,560
Net book value
At 31 March 24513,240513,240
At 31 March 23581,280581,280
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 2379,9434,29984,242
Additions25,7482,18527,933
At 31 March 24105,6916,484112,175
Depreciation and impairment
At 01 April 2351,8381,29253,130
Charge for year10,7711,03811,809
At 31 March 2462,6092,33064,939
Net book value
At 31 March 2443,0824,15447,236
At 31 March 2328,1053,00731,112
5.Stocks

2024

2023

££
Raw materials and consumables2,8002,800
Total2,8002,800
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables35,59031,860
Bank borrowings and overdrafts1,178-
Amounts owed to related parties89,678-
Taxation and social security17,1521,353
Other creditors247,417348,335
Accrued liabilities and deferred income1,4822,411
Total392,497383,959
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.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts6,033-
Total6,033-
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,9755,911
Total8,9755,911
9.Related party transactions
In the year, the directors made available a loan to the company. The balance of this loan as at 31 March 2024 was £Nil (2023: £25,177). This loan is interest free and repayable upon demand.