Smile White Holdings Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Smile White Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12014837 . The registered office is Dale House, 64 Fink Hill, Leeds, LS18 4DH.

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. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are eccomerce website platforms. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. 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:

Leasehold	20% Reducing Balance
Plant & Machinery	25% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	25% Reducing Balance

2.5. 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.

Page 3

Page 4

Smile White Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. 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.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 97 (2024: 36)

Page 4

Page 5

Smile White Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	87,687

As at 31 March 2025	87,687

Amortisation
As at 1 April 2024	24,620
Provided during the period	8,310

As at 31 March 2025	32,930

Net Book Value
As at 31 March 2025	54,757

As at 1 April 2024	63,067

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	-	23,302	25,500	13,539
Additions	26,834	58,619	65,495	18,972

As at 31 March 2025	26,834	81,921	90,995	32,511

Depreciation
As at 1 April 2024	-	13,581	1,063	4,132
Provided during the period	447	9,485	7,473	4,860

As at 31 March 2025	447	23,066	8,536	8,992

Net Book Value
As at 31 March 2025	26,387	58,855	82,459	23,519

As at 1 April 2024	-	9,721	24,437	9,407

Page 5

Page 6

Smile White Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	25,031	87,372
Additions	136,145	306,065

As at 31 March 2025	161,176	393,437

Depreciation
As at 1 April 2024	4,984	23,760
Provided during the period	17,570	39,835

As at 31 March 2025	22,554	63,595

Net Book Value
As at 31 March 2025	138,622	329,842

As at 1 April 2024	20,047	63,612

6. Stocks

	2025	2024
	£	£
Materials	320,762	71,507
Work in progress	1,764,857	-

	2,085,619	71,507

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,159,875	44,190
Amounts owed by participating interests	366,856	499,063
Other debtors	107,676	570,185

	2,634,407	1,113,438

Page 6

Page 7

Smile White Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,628,068	300,930
Bank loans and overdrafts	(583,003 )	-
Other creditors	11,519,358	1,616,882
Taxation and social security	911,364	201,727

	13,475,787	2,119,539

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

	2025	2024
	£	£
Amounts owed to participating interests	-	2,867

10. Share Capital

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

11. Related Party Transactions

YDS Group Ltd

YDS Group Ltd is the parent company.

During the period rent costs of £47,595 were paid to YDS Group Ltd.

At the balance sheet date, £366,686 (2024: £479,063) was owed by YDS Group Ltd.

Dividends of £2,173,000 (2024: £428,000) were voted during the period to YDS Group Ltd.

At the balance sheet date, £90,931 was included in trade creditors as owed to YDS Group Ltd.

YDS Hull Ltd

YDS Hull Ltd is a 100% owned subsidiary.

At the balance sheet date, £16,800 was included in trade creditors as owed to YDS Hull Ltd.

At the balance sheet date, £78,033 was included in trade debtors as owed by YDS Hull Ltd.

During the period, referral fees were charged by YDS Hull Ltd of £16,800.

During the period, YDS Hull Ltd was charged £94,204 for implants and lab fees.

YDS Guiseley Ltd

YDS Guiseley Ltd is a 100% owned subsidiary.

At the balance sheet date, £1,200 was included in trade creditors as owed to YDS Guiseley Ltd.

At the balance sheet date £170 was owed from YDS Guiseley Ltd.

At the balance sheet date, included in trade debtors was £51,325 owed by YDS Guiseley Ltd.

During the period, £1,200 was charged by YDS York Ltd for referral fees.

YDS (Leeds) Ltd

YDS (Leeds) Ltd is 100% owned subsidiary of Yorkshire Dental Suite (Holdings) Ltd. Yorkshire Dental Suite (Holdings) Ltd is an associated company by virtue of being controlled by associates of the owners of the parent company.

At the balance sheet date, £142,844 was included in trade creditors as owed to YDS (Leeds) Ltd.

...CONTINUED

Page 7

Page 8

Smile White Holdings Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Related Party Transactions - continued

At the balance sheet date, £148,240 was included in trade debtors as owed from YDS (Leeds) Ltd.

During the period, YDS (Leeds) Ltd was charged £928,694 for implants and lab fees.

At the balance sheet date, £3,240 was owed to YDS (Leeds) Ltd (2024: £28,905.06).

YDS York Ltd

YDS York Ltd is a 100% owned subsidiary.

At the balance sheet date, £9,600 was included in trade creditors as owed to YDS York Ltd.

At the balance sheet date, trade debtors included £114,943 owed by YDS York Ltd.

During the period, £9,600 was paid to YDS York Ltd for referral fees.

During the period, YDS York Ltd was charged £213,782 for implants and lab fees.

YDS Wakefield Ltd

YDS Wakefield Ltd is a 100% owned subsidiary.

During the period, lab costs of £73,724 were charged to YDS Wakefield Ltd.

At the balance sheet date, £87,347 was included in trade debtors as owed by YDS Wakefield Ltd.

During the period, referral fees were charged by YDS Wakefield of £69,690.

During the period, YDS Wakefield Ltd was charged £73,724 for implants and lab fees.

At the balance sheet date, £69,690 was included in trade creditors as owed to YDS Wakefield Ltd.

OTHER

No additional transactions with related parties were undertaken during the period, such as are required to be disclosed under FRS 102 Section 1A.

12. Ultimate Controlling Party

The company's ultimate controlling party is YDS Group Ltd by virtue of it's ownership of 100% of the issued share capital in the company.

Page 8

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		54,757		63,067
Tangible Assets	5		329,842		63,612

			384,599		126,679
CURRENT ASSETS
Stocks	6	2,085,619		71,507
Debtors	7	2,634,407		1,113,438
Cash at bank and in hand		8,447,149		823,364

		13,167,175		2,008,309
Creditors: Amounts Falling Due Within One Year	8	(13,475,787 )		(2,119,539 )

NET CURRENT ASSETS (LIABILITIES)			(308,612 )		(111,230 )

TOTAL ASSETS LESS CURRENT LIABILITIES			75,987		15,449

Creditors: Amounts Falling Due After More Than One Year	9		-		(2,867 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(75,752 )		(12,086 )

NET ASSETS			235		496

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			135		396

SHAREHOLDERS' FUNDS			235		496