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REGISTERED NUMBER: 08914903 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SMILE EVERYDAY LTD

SMILE EVERYDAY LTD (REGISTERED NUMBER: 08914903)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SMILE EVERYDAY LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: Dr M Jaffari





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 08914903 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

SMILE EVERYDAY LTD (REGISTERED NUMBER: 08914903)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,985 5,802
Tangible assets 5 33,974 239
44,959 6,041

CURRENT ASSETS
Debtors 583,762 250,612
Cash at bank 45,818 197,420
629,580 448,032
CREDITORS
Amounts falling due within one year 351,781 189,030
NET CURRENT ASSETS 277,799 259,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,758

265,043

CREDITORS
Amounts falling due after more than one year 13,274 23,735
NET ASSETS 309,484 241,308

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 5,183 -
Retained earnings 304,300 241,307
SHAREHOLDERS' FUNDS 309,484 241,308

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 director acknowledges his 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.

SMILE EVERYDAY LTD (REGISTERED NUMBER: 08914903)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 February 2025 and were signed by:





Dr M Jaffari - Director


SMILE EVERYDAY LTD (REGISTERED NUMBER: 08914903)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Smile Everyday Ltd 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 as modified by the revaluation of certain assets.

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.
Equipment - 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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

SMILE EVERYDAY LTD (REGISTERED NUMBER: 08914903)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Investments
Current asset investments are recognised at costs less provision for impairment.

Loans and borrowings:
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Intangible assets
Intangible assets are composed of cryptocurrencies held by the company and goodwill, being the amount paid in connection with the acquisition of a business in 2014.

The useful life of intangible assets is assessed as either finite or infinite.

Intangible assets with finite lives are amortised over their useful economic life and assets assessed for impairment whenever there is an indication the intangible assets may be impaired. The amortised period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period.

The intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the cash-generating unit level. The company recognises its own cryptocurrencies as intangible assets with indefinite useful life as the company determined that they do not have an expiry date nor have a foreseeable limit to the period of which they will be exchanged with a willing counterparty for cash or goods and services.

Gains and losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset are recognised in the profit and loss account when the asset is derecognised.

Amorisation is charged so as to write off the cost of the asset over their estimated useful lives, as follows:

Asset class Amorisation method and rate

Cryptocurrencies Indefinite (no amortisation)

3. EMPLOYEES AND DIRECTORS

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

SMILE EVERYDAY LTD (REGISTERED NUMBER: 08914903)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 555,802
Revaluations 5,183
At 31 March 2024 560,985
AMORTISATION
At 1 April 2023
and 31 March 2024 550,000
NET BOOK VALUE

At 31 March 2024 10,985
At 31 March 2023 5,802


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 3,180
Additions 45,060
At 31 March 2024 48,240
DEPRECIATION
At 1 April 2023 2,941
Charge for year 11,325
At 31 March 2024 14,266
NET BOOK VALUE
At 31 March 2024 33,974
At 31 March 2023 239

6. RELATED PARTY DISCLOSURES

During the year, the company paid management charges of £171,387 (2023 - £148,885) to a business owned by Dr M Jaffari.

At the balance sheet date, the company was owed £563,012 (2023 - £231,012) by M.R.T Developments Limited. a company in which Dr M Jaffari is a director.

At the balance sheet date the company owed £280,147 (2023 - £145,034) to Dr M Jaffari, the sole director.