2023-04-012024-03-312024-03-31false13980868N.M. SMILES 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N.M. SMILES LTD

Registered Number
13980868
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

N.M. SMILES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Dr Neeru Majumdar

Registered Address

Fulford Lodge 1 Heslington Lane
Fulford
York
YO10 4HW

Registered Number

13980868 (England and Wales)
N.M. SMILES LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3356445
356445
Current assets
Debtors446,2914,888
Cash at bank and on hand16,81040,639
63,10145,527
Creditors amounts falling due within one year5(11,753)(20,106)
Net current assets (liabilities)51,34825,421
Total assets less current liabilities51,70425,866
Net assets51,70425,866
Capital and reserves
Called up share capital11
Profit and loss account51,70325,865
Shareholders' funds51,70425,866
The financial statements were approved and authorised for issue by the Director on 28 January 2025, and are signed on its behalf by:
Dr Neeru Majumdar
Director
Registered Company No. 13980868
N.M. SMILES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Functional and presentation currency
The financial statements are presented in sterling, which is the functional currency of the entity.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Turnover policy
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year end date is recognised by reference to the state of completion.
Current taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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:

Reducing balance (%)
Plant and machinery25
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 April 23594594
At 31 March 24594594
Depreciation and impairment
At 01 April 23149149
Charge for year8989
At 31 March 24238238
Net book value
At 31 March 24356356
At 31 March 23445445
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,4204,888
Other debtors39,871-
Total46,2914,888
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security10,51910,717
Other creditors-8,609
Accrued liabilities and deferred income1,234780
Total11,75320,106
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Dr Neeru Majumdar(8,609)73,76925,28139,879
(8,609)73,76925,28139,879
7.Related party transactions
At the year end the Directors Loan Account balance is an overdrawn amount of -£39,871 (2023: £8,609). This balance is included within other debtors. Interest has been charged on the loan on a monthly basis at the UK market rate. The Director has confirmed that they paid a sum of £40,000 back into the company bank account on 19 December 2024 and as such there is no additional S455 tax to pay.