Smile Orthodontics LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC327340

Smile Orthodontics LLP

Unaudited financial statements

31 March 2025

Smile Orthodontics LLP

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		117,355		135,492

Current assets

Stocks		40,840	38,452
Debtors	6	264,616	193,547
Cash at bank and in hand		2,124,396	1,800,311
		-----------	-----------
		2,429,852	2,032,310

Creditors: Amounts falling due within one year	7	( 68,745)		( 596,050)
		-----------		-----------
Net current assets			2,361,107		1,436,260
			-----------		-----------
Total assets less current liabilities			2,478,462		1,571,752
			-----------		-----------
Net assets			2,478,462		1,571,752
			-----------		-----------

Represented by:

Loans and other debts due to members

Other amounts	8	2,478,462	1,571,752
		-----------	-----------

Members' other interests

Other reserves	–	–
	-----------	-----------
	2,478,462	1,571,752
	-----------	-----------

Total members' interests

Loans and other debts due to members	8	2,478,462	1,571,752
Members' other interests		–	–
		-----------	-----------
		2,478,462	1,571,752
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the income statement has not been delivered.

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Smile Orthodontics LLP

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 11 August 2025 , and are signed on their behalf by:

Dr H Patel	Dr S A Patel
Designated Member	Designated Member

Registered number: OC327340

Smile Orthodontics LLP

Notes to the financial statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 154A Dereham Road, Norwich, Norfolk, NR2 3AB.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Members' participation rights

Profit shares are determined annually in arrears by a members direction.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Improvements to leasehold property	-	10% straight line
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	25% reducing balance

Plant and machinery and fixtures and fittings were previously depreciated at 15% reducing balance. Motor vehicles were previously depreciated at 20% reducing balance. The partners have reassessed the useful lives of these assets and have concluded that 25% reducing balance is a more appropriate rate.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in 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.

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 20 (2024: 15 ).

5.	Tangible assets

	Improve- ments to leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	189,055	324,181	14,324	104,800	3,164	635,524
Additions	–	8,317	8,539	–	2,461	19,317
	---------	---------	-------	---------	------	---------
At 31 Mar 2025	189,055	332,498	22,863	104,800	5,625	654,841
	---------	---------	-------	---------	------	---------
Depreciation
At 1 Apr 2024	189,055	251,237	12,036	46,913	791	500,032
Charge for the year	–	19,508	2,518	14,472	956	37,454
	---------	---------	-------	---------	------	---------
At 31 Mar 2025	189,055	270,745	14,554	61,385	1,747	537,486
	---------	---------	-------	---------	------	---------
Carrying amount
At 31 Mar 2025	–	61,753	8,309	43,415	3,878	117,355
	---------	---------	-------	---------	------	---------
At 31 Mar 2024	–	72,944	2,288	57,887	2,373	135,492
	---------	---------	-------	---------	------	---------

6.	Debtors

	2025	2024
	£	£
Trade debtors	171,343	120,036
Prepayments and accrued income	36,953	21,265
Other debtors	56,320	52,246
	---------	---------
	264,616	193,547
	---------	---------

7. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Trade creditors	38,334	26,573
Accruals and deferred income	11,677	10,125
Social security and other taxes	8,734	9,004
Intercompany account - Smile Orthodontics Yorkshire LLP	–	540,348
Other creditors	10,000	10,000
	-------	---------
	68,745	596,050
	-------	---------

8.	Loans and other debts due to members

	2025	2024
	£	£
Amounts owed to members in respect of profits	2,478,462	1,571,752
	-----------	-----------

9.	Related party transactions

During the year ended 31 March 2017 the LLP loaned £49,400 on an interest free basis to a company in which the partners have an interest. £47,741 was still outstanding as at the year ended 31 March 2025.(2024: £47,906)