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COMPANY REGISTRATION NUMBER: 06082107
Dentasmile Limited
Filleted Unaudited Financial Statements
31 July 2024
Dentasmile Limited
Balance Sheet
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
5,080,029
5,111,164
Investments
7
16,959,563
17,335,199
-------------
-------------
22,039,592
22,446,363
Current assets
Stocks
9,250
10,100
Debtors
8
390,539
736,949
Cash at bank and in hand
118,916
174,256
---------
---------
518,705
921,305
Creditors: amounts falling due within one year
9
294,937
250,789
---------
---------
Net current assets
223,768
670,516
-------------
-------------
Total assets less current liabilities
22,263,360
23,116,879
Creditors: amounts falling due after more than one year
10
12,513,508
13,679,747
Provisions
11
1,067,421
1,073,222
-------------
-------------
Net assets
8,682,431
8,363,910
-------------
-------------
Capital and reserves
Called up share capital
250
250
Other reserves
13
( 375,636)
Profit and loss account
13
9,057,817
8,363,660
------------
------------
Shareholders funds
8,682,431
8,363,910
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Dentasmile Limited
Balance Sheet (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 13 February 2025 , and are signed on behalf of the board by:
Dr M Patel
Director
Company registration number: 06082107
Dentasmile Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, London, HA8 5LD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Deferred tax
Full provision is made for deferred tax assets and liabilities arising for timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
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:
Plant and machinery
-
33% reducing balance
Fixtures and fittings
-
33% reducing balance
Investments
Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. No provision for depreciation or amortisation is made on investment properties.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2023: 20 ).
5. Intangible assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
2,500,000
------------
Amortisation
At 1 August 2023 and 31 July 2024
2,500,000
------------
Carrying amount
At 31 July 2024
------------
At 31 July 2023
------------
6. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 August 2023
4,880,000
1,772,517
157,749
6,810,266
Additions
37,841
29,546
67,387
------------
------------
---------
------------
At 31 July 2024
4,880,000
1,810,358
187,295
6,877,653
------------
------------
---------
------------
Depreciation
At 1 August 2023
1,546,303
152,799
1,699,102
Charge for the year
87,138
11,384
98,522
------------
------------
---------
------------
At 31 July 2024
1,633,441
164,183
1,797,624
------------
------------
---------
------------
Carrying amount
At 31 July 2024
4,880,000
176,917
23,112
5,080,029
------------
------------
---------
------------
At 31 July 2023
4,880,000
226,214
4,950
5,111,164
------------
------------
---------
------------
The transfer of the commercial properties to Dentsamile Ltd were transferred from Marrygold Ltd as a going concern and the transfer is effected at nil gain nil loss under s.171 TCGA 1992 on 1 December 2021.
7. Investments
Shares in group undertakings
Investment property
Total
£
£
£
Cost
At 1 August 2023 and 31 July 2024
2,675,199
14,660,000
17,335,199
------------
-------------
-------------
Impairment
At 1 August 2023
Disposals
375,636
375,636
------------
-------------
-------------
At 31 July 2024
375,636
375,636
------------
-------------
-------------
Carrying amount
At 31 July 2024
2,299,563
14,660,000
16,959,563
------------
-------------
-------------
At 31 July 2023
2,675,199
14,660,000
17,335,199
------------
-------------
-------------
During the year ended 31 July 2022, the company acquired the shareholding in Marn Limited and Trinity Holding Group Limited. The investment property in Marn Limited was purchased by Dentasmile Limited on 1 December 2021.
The transfer of the residential and commercial properties to Dentsamile Ltd were transferred from Marrygold Ltd as a going concern and the transfer is effected at nil gain nil loss under s.171 TCGA 1992 on 1 December 2021.
The investment properties were valued on an open market basis on 31 July 2024 by Mr M C Patel, a director.
The company owns more than 20% of the issued share capital of the companies listed below.
Proportion
Subsidiary undertakings Holding Held Nature of business
East Mountain Limited Ordinary 100% Dental services
shares
Marn Limited Ordinary 100% Property investment
shares
Trinity Holding Group Ordinary 100% Holding company for
Trinity Limited shares Dental
Surgery Limited
8. Debtors
2024
2023
£
£
Trade debtors
17,973
18,366
Amounts owed by group undertakings
264,653
601,292
Other debtors
107,913
117,291
---------
---------
390,539
736,949
---------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Amounts owed by group undertakings
264,653
601,292
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
158,406
96,175
Corporation tax
55,430
3,566
Social security and other taxes
13,512
1,533
Other creditors
67,589
149,515
---------
---------
294,937
250,789
---------
---------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
12,260,414
12,368,235
Other creditors
253,094
1,311,512
-------------
-------------
12,513,508
13,679,747
-------------
-------------
11. Provisions
Deferred tax (note 12)
£
At 1 August 2023
1,073,222
Additions
( 5,801)
------------
At 31 July 2024
1,067,421
------------
12. Deferred tax
The deferred tax included in the balance sheet is as follows:
2024
2023
£
£
Included in provisions (note 11)
1,067,421
1,073,222
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
40,361
46,162
Fair value adjustment of investment property
1,027,060
1,027,060
------------
------------
1,067,421
1,073,222
------------
------------
13. Reserves
Profit and loss account
2024 2023
£ £
Distributable reserves 5,577,040 4,882,883
Fair value gains on investment properties 3,480,777 3,480,777
------------ ------------
9,057,817 8,363,660
------------ ------------
Other reserves
2024 2023
£ £
Fair value reserve (375,636)
14. Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
2024
2023
£
£
Fair value movements on investment in subsidiaries
( 375,636)
---------
----
At end of year
( 375,636)
---------
----
15. Directors' advances, credits and guarantees
At the reporting date, the company owed £253,094 (2023: £1,311,512) to the directors, Dr M Patel and Dr N Patel, in respect of their interest free loan which does not have a fixed repayment date. At the balance sheet date, the loan is presented within creditors: amounts falling due after more than one year.
16. Related party transactions
The company has taken advantage of the exemption from disclosing related party transactions with other companies that are wholly owned within the group.
17. Parent undertaking and ultimate controlling party
The company's ultimate parent company is Marrygold Limited , incorporated in England and Wales. The address of its registered office is Kimberley House, 31 Burnt Oak Broadway, Edgware, London, HA8 5LD. The company's ultimate controlling party is Dr M Patel by virtue of his majority holding in the voting share capital of the ultimate parent company.