Smile Arts Studio Pvt Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

Smile Arts Studio Pvt Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07560726 . The registered office is 4 Augustus Close, Stanmore, Middlesex, HA7 4PT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.

The principle accounting policies adopted are set below.

2.2. Going Concern Disclosure

The directors have considered the prospect of the business for the next twelve months and beyond and have arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of ten years.

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

2.5. Tangible Fixed Assets and Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold	2% Straight Line
Improvements	Straight line over 20 years
Plant & Machinery	20% Straight Line
Fixtures & Fittings	20% Straight Line
Computer Equipment	20% Straight Line

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

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.8. Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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Smile Arts Studio Pvt Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.9. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position 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.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

2.11. Government Grant

Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.

All grants in the income statement are recognised when all conditions for receipt have been complied with.

Government Assistance

The company received assistance in the form of a government backed loan (including Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and Future Fund Scheme) of £12,500.02 during the year ended 31 March 2025. This is reported the current and long term liabilities of the balance sheet based on the allocation of payments due within 12 months and greater than 12 months.

2.12. 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.

2.13. Critical Accounting Judgements and Key Sources of Estimation Uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.

The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Accrued Expenditure

The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 12)

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Smile Arts Studio Pvt Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	275,800

As at 31 March 2025	275,800

Amortisation
As at 1 April 2024	275,800

As at 31 March 2025	275,800

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Improvements	Plant & Machinery	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	1,631,469	189,849	252,865	5,648
Additions	-	-	4,444	-

As at 31 March 2025	1,631,469	189,849	257,309	5,648

Depreciation
As at 1 April 2024	35,999	23,790	201,496	4,131
Provided during the period	32,629	9,493	30,417	1,129

As at 31 March 2025	68,628	33,283	231,913	5,260

Net Book Value
As at 31 March 2025	1,562,841	156,566	25,396	388

As at 1 April 2024	1,595,470	166,059	51,369	1,517


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	2,959	2,082,790
Additions	2,114	6,558

As at 31 March 2025	5,073	2,089,348

Depreciation
As at 1 April 2024	2,577	267,993
Provided during the period	1,674	75,342

As at 31 March 2025	4,251	343,335

...CONTINUED

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Smile Arts Studio Pvt Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	822	1,746,013

As at 1 April 2024	382	1,814,797

6. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 April 2024	474,643

As at 31 March 2025	474,643

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	474,643

As at 1 April 2024	474,643

7. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	-	7,500
Other debtors	12,000	12,000
Deferred tax current asset	-	1,263
Other taxes and social security	2,177	-
Amounts owed by group undertakings	86,267	29,411

	100,444	50,174

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	14,152	18,004
Bank loans and overdrafts	151,834	116,040
Other taxes and social security	-	2,962
Net wages	359	-
Pensions payable	739	697
Credit card	-	12,989
Accruals and deferred income	-	1,799
Directors' loan accounts	443,041	370,324
Amounts owed to group undertakings	253,386	366,677

	863,511	889,492

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Smile Arts Studio Pvt Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	19,218	28,006
Bank loans	1,341,065	1,379,512

	1,360,283	1,407,518

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	14,152	18,004
Later than one year and not later than five years	19,218	28,006

	33,370	46,010

	33,370	46,010

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

The nominal value per share is £1 and there are 100 Ordinary Shares in issue.

12. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	-	10,567

13. Related Party Transactions

The amount owed by Ikigai Dental Limited, a company related via common control and directorship, totalled £86,267 as at the year-end, which is a current asset, interest free and repayable on demand.

The amount owed to Luminous Private Limited, a company related via common control and directorship, totalled £15,948 as at the year-end, which is a current liability, interest free and repayable on demand.

The amount owed to Andover Dental Practice Ltd, a company related via common control and directorship, totalled £237,437 as at the year-end, which is a current liability, interest free and repayable on demand.

The Director's loan account balance of Dr A Jain of £443,041 as at the year- end, is a current liability, interest free and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		1,746,013		1,814,797
Investments	6		474,643		474,643

			2,220,656		2,289,440
CURRENT ASSETS
Debtors	7	100,444		50,174
Cash at bank and in hand		15,690		30,011

		116,134		80,185
Creditors: Amounts Falling Due Within One Year	8	(863,511 )		(889,492 )

NET CURRENT ASSETS (LIABILITIES)			(747,377 )		(809,307 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,473,279		1,480,133

Creditors: Amounts Falling Due After More Than One Year	9		(1,360,283 )		(1,407,518 )

NET ASSETS			112,996		72,615

CAPITAL AND RESERVES
Called up share capital	11		100		100
Income Statement			112,896		72,515

SHAREHOLDERS' FUNDS			112,996		72,615