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REGISTERED NUMBER: 07212024 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

I M SMILE LIMITED

I M SMILE LIMITED (REGISTERED NUMBER: 07212024)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


I M SMILE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Dr G Mexias





REGISTERED OFFICE: 17 The Old Brewery
Rode
Frome
BA11 6NU





REGISTERED NUMBER: 07212024 (England and Wales)





ACCOUNTANTS: Andrews and Palmer
Chartered Accountants
32 The Square
Gillingham
Dorset
SP8 4AR

I M SMILE LIMITED (REGISTERED NUMBER: 07212024)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 350,001 400,001
Tangible assets 5 123,182 158,416
Investments 6 360,091 -
833,274 558,417

CURRENT ASSETS
Debtors 7 57,928 33,207
Cash at bank and in hand 313,393 403,447
371,321 436,654
CREDITORS
Amounts falling due within one year 8 382,607 342,494
NET CURRENT (LIABILITIES)/ASSETS (11,286 ) 94,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

821,988

652,577

CREDITORS
Amounts falling due after more than one
year

9

(536,885

)

(314,719

)

PROVISIONS FOR LIABILITIES (30,320 ) (38,969 )
NET ASSETS 254,783 298,889

CAPITAL AND RESERVES
Called up share capital 12 101 101
Retained earnings 254,682 298,788
SHAREHOLDERS' FUNDS 254,783 298,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

I M SMILE LIMITED (REGISTERED NUMBER: 07212024)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





Dr G Mexias - Director


I M SMILE LIMITED (REGISTERED NUMBER: 07212024)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

I M Smile Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services. Turnover is recognised at the time of supply.

Goodwill
Goodwill, being the amounts paid in connection with the acquisition of businesses, is being amortised evenly over the estimated useful lives of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - over the life of the lease
Plant and machinery - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial instruments are measured at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


I M SMILE LIMITED (REGISTERED NUMBER: 07212024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 1,284,586 1 1,284,587
AMORTISATION
At 1 May 2023 884,586 - 884,586
Amortisation for year 50,000 - 50,000
At 30 April 2024 934,586 - 934,586
NET BOOK VALUE
At 30 April 2024 350,000 1 350,001
At 30 April 2023 400,000 1 400,001

I M SMILE LIMITED (REGISTERED NUMBER: 07212024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 May 2023 62,325 537,071 599,396
Additions 1,314 3,970 5,284
At 30 April 2024 63,639 541,041 604,680
DEPRECIATION
At 1 May 2023 46,890 394,090 440,980
Charge for year 3,764 36,754 40,518
At 30 April 2024 50,654 430,844 481,498
NET BOOK VALUE
At 30 April 2024 12,985 110,197 123,182
At 30 April 2023 15,435 142,981 158,416

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023 85,988
Transfer to ownership (6,749 )
At 30 April 2024 79,239
DEPRECIATION
At 1 May 2023 42,552
Charge for year 10,148
Transfer to ownership (3,902 )
At 30 April 2024 48,798
NET BOOK VALUE
At 30 April 2024 30,441
At 30 April 2023 43,436

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 360,091
At 30 April 2024 360,091
NET BOOK VALUE
At 30 April 2024 360,091

I M SMILE LIMITED (REGISTERED NUMBER: 07212024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 26,703 3,112
Other debtors 31,225 30,095
57,928 33,207

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 60,590 61,154
Hire purchase contracts (see note 10) 18,763 28,666
Trade creditors 46,541 68,380
Taxation and social security 108,379 73,052
Other creditors 148,334 111,242
382,607 342,494

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 531,663 291,878
Hire purchase contracts (see note 10) 5,222 22,841
536,885 314,719

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 369,696 145,122

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 18,763 28,666
Between one and five years 5,222 22,841
23,985 51,507

I M SMILE LIMITED (REGISTERED NUMBER: 07212024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year 39,622 36,709
Between one and five years 39,137 59,332
78,759 96,041

11. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 592,253 353,032
Hire purchase contracts 23,985 51,507
616,238 404,539

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 A Ordinary £1 100 100
1 B Ordinary £1 1 1
101 101

A Ordinary shares are full voting shares (one vote per share) with full rights to distributions on winding up.

B Ordinary shares are non-voting shares with no rights to distributions on winding up.