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REGISTERED NUMBER: 13060424 (England and Wales)














SMILEVALLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SMILEVALLEY LIMITED (REGISTERED NUMBER: 13060424)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


SMILEVALLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr G S Mehta
Ms N R D S Reinolds





REGISTERED OFFICE: 24 Landgate
Rye
East Sussex
TN31 7LJ





REGISTERED NUMBER: 13060424 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
Landgate Chambers
Rye
East Sussex
TN31 7LJ

SMILEVALLEY LIMITED (REGISTERED NUMBER: 13060424)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,407 69,876
Investments 5 50,000 47,283
102,407 117,159

CURRENT ASSETS
Debtors 6 113,484 23,534
Cash at bank 158,604 43,536
272,088 67,070
CREDITORS
Amounts falling due within one year 7 247,732 150,611
NET CURRENT ASSETS/(LIABILITIES) 24,356 (83,541 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,763

33,618

CREDITORS
Amounts falling due after more than one
year

8

(38,685

)

(60,738

)

PROVISIONS FOR LIABILITIES (13,102 ) -
NET ASSETS/(LIABILITIES) 74,976 (27,120 )

CAPITAL AND RESERVES
Called up share capital 9 4 2
Retained earnings 74,972 (27,122 )
SHAREHOLDERS' FUNDS 74,976 (27,120 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SMILEVALLEY LIMITED (REGISTERED NUMBER: 13060424)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





Dr G S Mehta - Director


SMILEVALLEY LIMITED (REGISTERED NUMBER: 13060424)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Smilevalley 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 25% on reducing balance

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.

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.

SMILEVALLEY LIMITED (REGISTERED NUMBER: 13060424)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 124,227
DEPRECIATION
At 1 April 2023 54,351
Charge for year 17,469
At 31 March 2024 71,820
NET BOOK VALUE
At 31 March 2024 52,407
At 31 March 2023 69,876

SMILEVALLEY LIMITED (REGISTERED NUMBER: 13060424)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 93,022
DEPRECIATION
At 1 April 2023 40,698
Charge for year 13,081
At 31 March 2024 53,779
NET BOOK VALUE
At 31 March 2024 39,243
At 31 March 2023 52,324

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment in subsidiary 47,283 47,283
FV uplift 2,717 -
50,000 47,283

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 113,484 23,534

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 19,056 17,972
Trade creditors - 7,604
Taxation and social security 3,374 3,845
Other creditors 225,302 121,190
247,732 150,611

SMILEVALLEY LIMITED (REGISTERED NUMBER: 13060424)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 32,451 51,507
Other creditors 6,234 9,231
38,685 60,738

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2
2 Ordinary B £1 2 -
4 2

10. RELATED PARTY DISCLOSURES

Dr G Mehta is also a director of G Mehta Limited. During the year Smilevalley Limited loaned G Mehta Ltd £211,790. The loan is interest free with no fixed terms for repayment. The amount outstanding owed from Smilevalley Ltd at the year end was £113,480 (2032: -£23,531).

Dr G Mehta is also a director of Gmehtapropertybarnet Ltd. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to Gmehtapropertybarnet Ltd at the year end was £20,000 (2023: £24,000)

Dr G Mehta is also a director of Gmvalley Ltd. The loan is interest free with no fixed terms for repayment. The amount outstanding owed to Gmvalley Ltd at the year end was £6,348 (2023: £NIL)