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Registered number: 5187146
SMILES DENTAL CARE LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Imagitax Ltd
Chartered Certified Accountants
38 Hillbury Avenue
Harrow
Middlesex
HA3 8EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 5187146
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 117,000 136,500
Tangible Assets 5 20,295 10,993
137,295 147,493
CURRENT ASSETS
Debtors 6 64,374 71,772
Cash at bank and in hand 1,219,337 1,228,201
1,283,711 1,299,973
Creditors: Amounts Falling Due Within One Year 7 (106,523 ) (217,434 )
NET CURRENT ASSETS (LIABILITIES) 1,177,188 1,082,539
TOTAL ASSETS LESS CURRENT LIABILITIES 1,314,483 1,230,032
NET ASSETS 1,314,483 1,230,032
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,314,383 1,229,932
SHAREHOLDERS' FUNDS 1,314,483 1,230,032
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Haria
Director
17/12/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
SMILES DENTAL CARE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 5187146 . The registered office is 5 The Broadway, Winchmore Hill Road, Southgate, London, N14 6PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and any refunds.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% per annum
Fixtures & Fittings 20% per annum
2.5. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current periods.
2.6. Pensions
Contributions to defined pension contribution plans are expensed in the period to which they relate.
2.7. Debtors
Short term debtors are measured at invoice price. Loans and athoer financial assets are initially recognised at cost less any impairment losses for bad and doubtful debts.
2.8. Creditors
Short term creditors are measured at invoice price.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 9)
10 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 390,000
As at 31 March 2024 390,000
Amortisation
As at 1 April 2023 253,500
Provided during the period 19,500
As at 31 March 2024 273,000
Net Book Value
As at 31 March 2024 117,000
As at 1 April 2023 136,500
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 41,666 24,795 66,461
Additions 14,375 - 14,375
As at 31 March 2024 56,041 24,795 80,836
Depreciation
As at 1 April 2023 32,319 23,149 55,468
Provided during the period 4,744 329 5,073
As at 31 March 2024 37,063 23,478 60,541
Net Book Value
As at 31 March 2024 18,978 1,317 20,295
As at 1 April 2023 9,347 1,646 10,993
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,436 14,307
Other debtors 54,938 57,465
64,374 71,772
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,200 21,194
Corporation tax 68,138 70,631
Other creditors 30,505 17,624
Accruals and deferred income - 4,345
Director's loan account 680 103,640
106,523 217,434
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Dividends totalling £110,000 (2023 - £100,000) were paid in the year in respect of shares held by the company's shareholders of which £60,500 (2023 - £55,000) related to the Director's shareholding.
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10. Related Party Transactions
During the year ended 31 March 2024, Smile Dental Care Limited owed £680 (2023 - £103,640) to its Director. This amount is reflected in the Other creditors under Creditors amounts falling due within one year. The Director has agreed to provide this loan on an interest free basis and the loan is repayable on demand.
During the year ended 31 March 2024, Smiles Dental Care Limited lent £48,000 (2023 - £48,000) to Arak Property Investments Ltd, a company in which the Director has an interest.The amount is reflected in the Other debtors. The loan is on an interest free basis and repayable on demand.
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