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Registered number: 08968319
Thorndike Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08968319
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 230,000 72,890
Tangible Assets 5 41,863 45,358
Investments 6 - 1
271,863 118,249
CURRENT ASSETS
Stocks 7 5,660 -
Debtors 8 780,902 43,522
Cash at bank and in hand 1,439,055 1,895,740
2,225,617 1,939,262
Creditors: Amounts Falling Due Within One Year 9 (521,272 ) (508,468 )
NET CURRENT ASSETS (LIABILITIES) 1,704,345 1,430,794
TOTAL ASSETS LESS CURRENT LIABILITIES 1,976,208 1,549,043
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,465 ) (14,174 )
NET ASSETS 1,965,743 1,534,869
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 1,964,743 1,533,869
SHAREHOLDERS' FUNDS 1,965,743 1,534,869
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For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr Behzad Manzoor
Director
16/12/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Thorndike Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08968319 . The registered office is 374 High Street, Rochester, Kent, ME1 1DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
2.3. Turnover
Turnover is recognised at the fair value of consideration received or receivable for dental services provided in the normal course of business. 
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 the profit and loss account over its estimated economic life of 5 years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets represent cryptocurrency with a carrying value of £230,000 (2024: £72,890), comprising XRP held by the company and measured at fair value at the reporting date in accordance with the revaluation model under FRS 102 Section 18. 
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% written down value
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. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2024: 9)
11 9
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2024 651,846 230,000 881,846
As at 31 March 2025 651,846 230,000 881,846
Amortisation
As at 1 April 2024 651,846 157,110 808,956
Revaluations - (157,110 ) (157,110 )
As at 31 March 2025 651,846 - 651,846
Net Book Value
As at 31 March 2025 - 230,000 230,000
As at 1 April 2024 - 72,890 72,890
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 140,060
Additions 6,970
As at 31 March 2025 147,030
Depreciation
As at 1 April 2024 94,702
Provided during the period 10,465
As at 31 March 2025 105,167
Net Book Value
As at 31 March 2025 41,863
As at 1 April 2024 45,358
6. Investments
Subsidiaries
£
Cost or Valuation
As at 1 April 2024 1
Transfers (1 )
As at 31 March 2025 -
Provision
As at 1 April 2024 -
As at 31 March 2025 -
...CONTINUED
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Page 5
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 1
7. Stocks
2025 2024
£ £
Stock 5,660 -
8. Debtors
2025 2024
£ £
Due within one year
Trade debtors 56,381 43,522
Amounts owed by group undertakings 724,068 -
Other debtors 453 -
780,902 43,522
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 75,888 55,538
Other creditors 347,928 350,306
Taxation and social security 97,456 102,624
521,272 508,468
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 1,001 2,000
Dividend distribution of £1 was made in specie on 31/01/2025 for the transfer of its subsidiary Shakehands Ltd, a company registered in England , to  the company's immediate parent company Smileologyholdings Ltd at that time.
Dividends of £1 per share were declared and paid to its registered shareholders Dr Behzad Manzoor & Dr S Shah on 30th September 2024.
Page 5
Page 6
12. Reserves
Revaluation reserve Profit and Loss Account
£ £
As at 1 April 2024 - 1,533,869
Profit for year - 274,764
Surplus on revaluation 157,110 -
Other comprehensive income for the year 157,110 -
Total comprehensive income for the year 157,110 274,764
Dividends paid - (1,001)
Transfer from revaluation reserve - 157,111
Transfer to/from Profit & Loss Account (157,110 ) -
As at 31 March 2025 - 1,964,743
13. Ultimate Controlling Party
The company is a wholly owned subsidiary of Smileologyholdings Ltd, a company incorporated in England registered at 374 High Street, Rochester,ME1 1DJ
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