2023-04-012024-03-312024-03-31false14052344SMILES BY WILL 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SMILES BY WILL LTD

Registered Number
14052344
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SMILES BY WILL LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

DYSON-SUTTON, William

Registered Address

Fulford Lodge 1 Heslington Lane
Fulford
York
YO10 4HW

Registered Number

14052344 (England and Wales)
SMILES BY WILL LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,8122,685
6,8122,685
Current assets
Debtors425,08117,953
Cash at bank and on hand41,71924,561
66,80042,514
Creditors amounts falling due within one year5(29,803)(21,728)
Net current assets (liabilities)36,99720,786
Total assets less current liabilities43,80923,471
Creditors amounts falling due after one year6(644)(644)
Provisions for liabilities7(1,294)-
Net assets41,87122,827
Capital and reserves
Called up share capital100100
Profit and loss account41,77122,727
Shareholders' funds41,87122,827
The financial statements were approved and authorised for issue by the Director on 11 November 2024, and are signed on its behalf by:
DYSON-SUTTON, William
Director
Registered Company No. 14052344
SMILES BY WILL LTD
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
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the entity.
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.
Revenue from sale of goods
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 state of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Current taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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:
2.Average number of employees

20242023
Average number of employees during the year21
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 236442,5513,195
Additions1,5004,4645,964
At 31 March 242,1447,0159,159
Depreciation and impairment
At 01 April 23-510510
Charge for year5361,3011,837
At 31 March 245361,8112,347
Net book value
At 31 March 241,6085,2046,812
At 31 March 236442,0412,685
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables25,08117,953
Total25,08117,953
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,4852,500
Taxation and social security22,61015,361
Other creditors2,1443,267
Accrued liabilities and deferred income1,564600
Total29,80321,728
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts644644
Total644644
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,294-
Total1,294-
8.Related party transactions
During the year the directors made available a loan to the company of £2,144.45 (2023: £3,267.23). Interest has been charged on this balance at the UK market rate. The loan is repayable on demand.