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Pearl Smile Prestbury Limited

Registered Number
07734022
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

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

Directors

Dr Nilesh Bhavsar
Dr Leena Jassi

Registered Address

3 Fog Lane
Manchester
M20 6AX

Registered Number

07734022 (England and Wales)
Pearl Smile Prestbury Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets342,48542,485
Tangible assets4132,145147,635
174,630190,120
Current assets
Stocks55,0003,000
Debtors6201,20171,045
Cash at bank and on hand118,34739,065
324,548113,110
Creditors amounts falling due within one year7(266,282)(146,689)
Net current assets (liabilities)58,266(33,579)
Total assets less current liabilities232,896156,541
Provisions for liabilities9(7,254)(9,882)
Net assets225,642146,659
Capital and reserves
Called up share capital22
Profit and loss account225,640146,657
Shareholders' funds225,642146,659
The financial statements were approved and authorised for issue by the Board of Directors on 28 January 2025, and are signed on its behalf by:
Dr Nilesh Bhavsar
Director
Registered Company No. 07734022
Pearl Smile Prestbury 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 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.
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)
Land and buildings10
Fixtures and fittings20
Office Equipment33.33
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.
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 tis liabilities.
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 year107
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23435,588435,588
At 31 March 24435,588435,588
Amortisation and impairment
At 01 April 23393,103393,103
At 31 March 24393,103393,103
Net book value
At 31 March 2442,48542,485
At 31 March 2342,48542,485
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2395,769105,92544,47311,400257,567
At 31 March 2495,769105,92544,47311,400257,567
Depreciation and impairment
At 01 April 2382760,17938,80910,117109,932
Charge for year97811,4361,9011,17515,490
At 31 March 241,80571,61540,71011,292125,422
Net book value
At 31 March 2493,96434,3103,763108132,145
At 31 March 2394,94245,7465,6641,283147,635
5.Stocks

2024

2023

££
Raw materials and consumables5,0003,000
Total5,0003,000
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,32125,045
Amounts owed by group undertakings185,88046,000
Total201,20171,045
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables27,77624,267
Amounts owed to related parties203,18996,468
Taxation and social security25,74516,450
Accrued liabilities and deferred income9,5729,504
Total266,282146,689
8.Creditors: amounts due after one year
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,2549,882
Total7,2549,882
10.Related party transactions
During the year the directors made available a loan to the company of £NIL (2023: £NIL). This loan is repayable upon demand.
11.Parent-subsidiary relationships
Pearl Smile Prestbury Ltd is a wholly owned subsidiary of Pearl Smile Holdings Ltd, which is the parent company within it's group.