2023-04-012024-03-312024-03-31false11954494Pearl Smile (Oldham) 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Pearl Smile (Oldham) Limited

Registered Number
11954494
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Pearl Smile (Oldham) 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

11954494 (England and Wales)
Pearl Smile (Oldham) Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3261,010261,010
Tangible assets412,66112,134
273,671273,144
Current assets
Stocks55,0002,500
Debtors649,01353,275
Cash at bank and on hand48,9688,457
102,98164,232
Creditors amounts falling due within one year7(155,107)(154,013)
Net current assets (liabilities)(52,126)(89,781)
Total assets less current liabilities221,545183,363
Provisions for liabilities8(2,405)(2,305)
Net assets219,140181,058
Capital and reserves
Called up share capital100100
Profit and loss account219,040180,958
Shareholders' funds219,140181,058
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. 11954494
Pearl Smile (Oldham) 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. 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:
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 its liabilities.
2.Average number of employees

20242023
Average number of employees during the year108
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23360,011360,011
At 31 March 24360,011360,011
Amortisation and impairment
At 01 April 2399,00199,001
At 31 March 2499,00199,001
Net book value
At 31 March 24261,010261,010
At 31 March 23261,010261,010
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 2320,7225,8748,91635,512
Additions4,035-2,0206,055
At 31 March 2424,7575,87410,93641,567
Depreciation and impairment
At 01 April 2311,1825,1227,07423,378
Charge for year4,1891881,1515,528
At 31 March 2415,3715,3108,22528,906
Net book value
At 31 March 249,3865642,71112,661
At 31 March 239,5407521,84212,134
5.Stocks

2024

2023

££
Raw materials and consumables5,0002,500
Total5,0002,500
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables21,3535,615
Amounts owed by group undertakings10,00030,000
Other debtors17,66017,660
Total49,01353,275
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables13,51322,394
Amounts owed to related parties117,025103,362
Taxation and social security14,19719,211
Accrued liabilities and deferred income10,3729,046
Total155,107154,013
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,4052,305
Total2,4052,305
9.Related party transactions
During the year the Director loaned the company £NIL (2023: £NIL). This loan is repayable upon demand. Interest was charged on the loan at the UK market rate throughout the year.
10.Parent-subsidiary relationships
Pearl Smile (Oldham) Ltd is a wholly owned subsidiary of Pearl Smile Holdings Ltd, which is the parent company within it's group.