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COMPANY REGISTRATION NUMBER: 12936415

Smiles By Gurms Ltd

Filleted Unaudited Financial Statements

31 October 2024

Smiles By Gurms Ltd

Statement of Financial Position

31 October 2024

| 2024 | 2023
Note | £ | £

Fixed assets

Tangible assets | 5 | 135,689 | 189,297

Current assets

Debtors | 6 | 809,431 | 351,745
Cash at bank and in hand | 380 | 381
| --------- | ---------
| 809,811 | 352,126

Creditors: amounts falling due within one year | 7 | 713,991 | 433,170
| --------- | ---------
Net current assets/(liabilities) | 95,820 | ( 81,044)
| --------- | ---------
Total assets less current liabilities | 231,509 | 108,253

Creditors: amounts falling due after more than one year | 8 | 21,090 | 37,030

Provisions | 28,470 | 47,324
| --------- | ---------
Net assets | 181,949 | 23,899
| --------- | ---------

Capital and reserves

Called up share capital | 100 | 100
Profit and loss account | 181,849 | 23,799
| --------- | --------
Shareholders funds | 181,949 | 23,899
| --------- | --------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' 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, the income statement has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Smiles By Gurms Ltd

Statement of Financial Position (continued)

31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 7 April 2026 , and are signed on behalf of the board by:

Dr GS Raja
Director

Company registration number: 12936415

Smiles By Gurms Ltd

Notes to the Financial Statements

Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Portsdown Road, Leicester, LE2 3RB.
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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. 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 services rendered. Revenue from the sale of services is recognised on the provision that the service is provided, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
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 amounts 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 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.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:

| Long leasehold property | - | 10% straight line
| Plant and machinery | - | 20% straight line
| Fixtures and fittings | - | 20% straight line
| Equipment | - | 25% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
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 company during the year amounted to 7 (2023: 7 ).
5. Tangible assets

| Long leasehold property | Plant and machinery | Fixtures and fittings | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 November 2023 | 66,450 | 204,514 | 35,312 | 19,268 | 325,544
Additions | – | – | 4,540 | 1,374 | 5,914
Disposals | – | – | – | ( 949) | ( 949)
| -------- | --------- | -------- | -------- | ---------
At 31 October 2024 | 66,450 | 204,514 | 39,852 | 19,693 | 330,509
| -------- | --------- | -------- | -------- | ---------
Depreciation |  |  |  |  |
At 1 November 2023 | 14,967 | 92,403 | 19,164 | 9,713 | 136,247
Charge for the year | 6,645 | 39,903 | 7,379 | 5,161 | 59,088
Disposals | – | – | – | ( 515) | ( 515)
| -------- | --------- | -------- | -------- | ---------
At 31 October 2024 | 21,612 | 132,306 | 26,543 | 14,359 | 194,820
| -------- | --------- | -------- | -------- | ---------
Carrying amount |  |  |  |  |
At 31 October 2024 | 44,838 | 72,208 | 13,309 | 5,334 | 135,689
| -------- | --------- | -------- | -------- | ---------
At 31 October 2023 | 51,483 | 112,111 | 16,148 | 9,555 | 189,297
| -------- | --------- | -------- | -------- | ---------

6. Debtors

| 2024 | 2023
| £ | £
Other debtors | 809,431 | 351,745
| --------- | ---------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 22,932 | 20,986
Trade creditors | 239,232 | 197,864
Corporation tax | 283,729 | 118,174
Social security and other taxes | 24,651 | 5,655
Other creditors | 143,447 | 90,491
| --------- | ---------
| 713,991 | 433,170
| --------- | ---------

8. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Other creditors | 21,090 | 37,030
| -------- | --------

9. Operating leases
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

| 2024 | 2023
| £ | £
Later than 5 years | 167,189 | 189,689
| --------- | ---------

10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Dr GS Raja | 336,435 | 787,541 | ( 381,934) | 742,042
|  | --------- | --------- | --------- | ---------

| 2023
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Dr GS Raja | 192,879 | 542,121 | ( 398,566) | 336,434
|  | --------- | --------- | --------- | ---------