2023-04-012024-03-312024-03-31false11953983Pearl Smile (Manchester) 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Pearl Smile (Manchester) Limited

Registered Number
11953983
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Pearl Smile (Manchester) Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Dr Nilesh Bhavsar
Dr Leena Jassi

Registered Address

31 Prestbury Road
Wilmslow
SK9 2LJ

Registered Number

11953983 (England and Wales)
Pearl Smile (Manchester) Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3317,250317,250
Tangible assets4181,175140,572
498,425457,822
Current assets
Stocks55,0005,000
Debtors185,272444,699
Cash at bank and on hand46,12058,133
236,392507,832
Creditors amounts falling due within one year6(295,568)(148,884)
Net current assets (liabilities)(59,176)358,948
Total assets less current liabilities439,249816,770
Creditors amounts falling due after one year7(90,682)(135,011)
Provisions for liabilities9(15,504)(15,818)
Net assets333,063665,941
Capital and reserves
Called up share capital100100
Profit and loss account332,963665,841
Shareholders' funds333,063665,941
The financial statements were approved and authorised for issue by the Board of Directors on 29 January 2025, and are signed on its behalf by:
Dr Nilesh Bhavsar
Director
Registered Company No. 11953983
Pearl Smile (Manchester) Limited
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted, or substantively enacted, by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
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.
Tangible fixed assets and 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:

Straight line (years)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Stocks and work in progress
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all cost of purchase, cost of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.Average number of employees

20242023
Average number of employees during the year1723
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23470,000470,000
At 31 March 24470,000470,000
Amortisation and impairment
At 01 April 23152,750152,750
At 31 March 24152,750152,750
Net book value
At 31 March 24317,250317,250
At 31 March 23317,250317,250
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2359,088196,69428,50530,271314,558
Additions45,15534,0483,3272,05784,587
At 31 March 24104,243230,74231,83232,328399,145
Depreciation and impairment
At 01 April 23-135,56722,93215,487173,986
Charge for year-33,8823,7116,39143,984
At 31 March 24-169,44926,64321,878217,970
Net book value
At 31 March 24104,24361,2935,18910,450181,175
At 31 March 2359,08861,1275,57314,784140,572
5.Stocks

2024

2023

££
Raw materials and consumables5,0005,000
Total5,0005,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables48,91642,901
Amounts owed to related parties124,26649,000
Taxation and social security56,15422,076
Finance lease and HP contracts51,74824,147
Other creditors3,517-
Accrued liabilities and deferred income10,96710,760
Total295,568148,884
7.Creditors: amounts due after one year

2024

2023

££
Other creditors90,682135,011
Total90,682135,011
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts90,682135,011
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)15,50415,818
Total15,50415,818
10.Related party transactions
During the year the directors made available a loan to the company. This loan was subject to interest on a monthly basis at the UK market rate. At the end of the year the Directors Loan Account balance was £NIL (2023: £NIL).
11.Parent-subsidiary relationships
Pearl Smile (Manchester) Ltd is a wholly owned subsidiary of Pearl Smile Holdings Ltd, which is the parent company of it's group.