2023-04-012024-03-312024-03-31false11931546Pearl Smile Holdings 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Pearl Smile Holdings Limited

Registered Number
11931546
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Pearl Smile Holdings 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

11931546 (England and Wales)
Pearl Smile Holdings Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments3679,072679,072
679,072679,072
Current assets
Debtors4835,075495,993
Cash at bank and on hand9,29912,796
844,374508,789
Creditors amounts falling due within one year5(258,943)(379,950)
Net current assets (liabilities)585,431128,839
Total assets less current liabilities1,264,503807,911
Creditors amounts falling due after one year6(828,506)(615,781)
Net assets435,997192,130
Capital and reserves
Called up share capital2020
Profit and loss account435,977192,110
Shareholders' funds435,997192,130
The financial statements were approved and authorised for issue by the Board of Directors on 31 January 2025, and are signed on its behalf by:
Dr Nilesh Bhavsar
Director
Registered Company No. 11931546
Pearl Smile Holdings 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 group activities.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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 its 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 year22
3.Fixed asset investments
The fixed asset investments represent the cost of acquiring 100% of the issued share capital of Pearl Smile (Manchester) Ltd, Pearl Smile (Oldham) Ltd, Pearl Smile (Prestbury) Ltd and Westwoodside Dental Practice Ltd. The companies are trading companies registered in England and Wales.

Investments in groups1

Total

££
Cost or valuation
At 01 April 23679,072679,072
At 31 March 24679,072679,072
Net book value
At 31 March 24679,072679,072
At 31 March 23679,072679,072

Notes

1Investments in group undertakings and participating interests
4.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings347,613232,021
Other debtors483,951263,972
Prepayments and accrued income3,511-
Total835,075495,993
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts92,37135,168
Amounts owed to related parties140,317338,735
Taxation and social security20,135740
Accrued liabilities and deferred income6,1205,307
Total258,943379,950
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts828,506615,781
Total828,506615,781
7.Related party transactions
During the year the directors made available a loan to the company. At the year end the balance of the loan was -£400,464 (2023: -£201,960). Interest was charged on this loan on a monthly basis at the UK market rates. The loan is repayable upon demand. S455 tax has already been paid on the previous over-drawn balance of £191,942. Additional S455 tax will be paid - see tax return for information.
8.Controlling party
Pearl Smile Holdings Ltd is the parent company within its group. Under the provision of section 398 of the Companies Act 2006, the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as a single entity. The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group.