Company registration number 08121165 (England and Wales)
PERFECT SMILE SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
PERFECT SMILE SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
PERFECT SMILE SOLUTIONS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
509,100
537,900
Tangible assets
4
54,494
85,112
563,594
623,012
Current assets
Debtors
5
311,999
175,777
Cash at bank and in hand
2,223
12,845
314,222
188,622
Creditors: amounts falling due within one year
6
(356,556)
(248,058)
Net current liabilities
(42,334)
(59,436)
Total assets less current liabilities
521,260
563,576
Creditors: amounts falling due after more than one year
7
(503,110)
(559,455)
Provisions for liabilities
(13,624)
(21,278)
Net assets/(liabilities)
4,526
(17,157)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
4,426
(17,257)
Total equity
4,526
(17,157)
PERFECT SMILE SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 August 2025
Dr M Mirza
Director
Company registration number 08121165 (England and Wales)
PERFECT SMILE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Perfect Smile Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Appleton Park Dental Surgery, 37 Dudlow Green Road, Appleton, Warrington, Cheshire, WA4 5EQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover shown in the profit and loss account represents amounts invoiced for dental services provided during the accounting period.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Dental equipment, fixtures and fittings
15% straight line
Computer equipment
15% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PERFECT SMILE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

PERFECT SMILE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
13
3
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
576,000
Amortisation and impairment
At 1 September 2023
38,100
Amortisation charged for the year
28,800
At 31 August 2024
66,900
Carrying amount
At 31 August 2024
509,100
At 31 August 2023
537,900
4
Tangible fixed assets
Dental equipment, fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 September 2023
210,290
9,806
220,096
Additions
-
0
1,998
1,998
At 31 August 2024
210,290
11,804
222,094
Depreciation and impairment
At 1 September 2023
127,603
7,381
134,984
Depreciation charged in the year
31,544
1,072
32,616
At 31 August 2024
159,147
8,453
167,600
Carrying amount
At 31 August 2024
51,143
3,351
54,494
At 31 August 2023
82,687
2,425
85,112
PERFECT SMILE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,498
7,040
Other debtors
305,501
168,737
311,999
175,777
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
39,410
39,346
Obligations under finance leases
20,148
20,942
Trade creditors
51,523
42,618
Corporation tax
110,442
56,841
Other taxation and social security
101,649
55,828
Other creditors
24,612
23,402
Accruals and deferred income
8,772
9,081
356,556
248,058

The above obligations under finance leases are secured by the company.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
484,391
520,587
Obligations under finance leases
18,719
38,868
503,110
559,455

The above obligations under finance leases are secured by the company.

Amounts included above which fall due after five years are as follows:
Payable by instalments
327,112
363,210
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
PERFECT SMILE SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Land and Buildings
15,650
15,650
Motor Vehicles
9,276
7,596
24,926
23,246

The above amounts represents 1) the annual commitment of £15,650 on a property lease with approximately two years to run at 31 August 2024 and 2) the annual commitment of £9,276 on a vehicle lease.

10
Director's transactions

At 31 August 2024, an amount of £272,734, included in other debtors, was due to the company from Dr M Mirza, in respect of the overdrawn balance on his director’s current account with the company. Interest was charged on this overdrawn balance at a rate of 2.25%, totalling £4,791 for the year ended 31 August 2024. This debt has been cleared in part since the year end by the voting of dividends from the company which have been used to part settle the debt.

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