LIFESMILES LIMITED


Director	Dr Timothy Stokes


Registered Address	Fulford Lodge
	1 Heslington Lane
	York
	YO10 4HN


Registered Number	15998956 (England and Wales)

Notes to the Financial Statements
for the period ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Basis of preparation
	The financial statements have been prepared on the historical cost basis.

	Functional and presentation currency
	The financial statements are presented in sterling, which is the functional currency of the entity.

	Going concern
	The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine.  All these matters have impacted the company's trading results to a greater or lesser extent.  At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.

	Revenue from sale of goods
	The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the year end date is recognised by reference to the state of completion.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to 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.

Employee benefits

Contributions to defined contribution plans are expensed in the period to 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.

	Current taxation
	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 amount of tax expected to pay or recover using the tax rates and laws that have been enacted, or substantively enacted, at the reporting date.

Current taxation

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 amount 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
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

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


		Reducing balance (%)
	Plant and machinery	20
	Fixtures and fittings	20
	Office Equipment	20

	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.

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.

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

2.	Average number of employees


		2026
	Average number of employees during the year	9

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
Additions	767,688	767,688
At 31 March 26	767,688	767,688
Net book value
At 31 March 26	767,688	767,688
At 03 October 24	-	-

4.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
Additions	111,458	387	1,239	113,084
At 31 March 26	111,458	387	1,239	113,084
Depreciation and impairment
Charge for year	22,292	77	248	22,617
At 31 March 26	22,292	77	248	22,617
Net book value
At 31 March 26	89,166	310	991	90,467
At 03 October 24	-	-	-	-

5.	Stocks

		2026
		£
	Raw materials and consumables	12,000
	Total	12,000

6.	Debtors: amounts due within one year

		2026
		£
	Trade debtors / trade receivables	119
	Amounts owed by associates and joint ventures / participating interests	37,737
	Total	37,856

7.	Creditors: amounts due within one year

		2026
		£
	Trade creditors / trade payables	7,970
	Bank borrowings and overdrafts	25,081
	Taxation and social security	15,300
	Finance lease and HP contracts	6,516
	Other creditors	82,495
	Accrued liabilities and deferred income	4,933
	Total	142,295

8.	Creditors: amounts due after one year

		2026
		£
	Bank borrowings and overdrafts	680,639
	Other creditors	46,008
	Total	726,647

9.	Obligations under finance leases

		2026
		£
	Finance lease and HP contracts	52,524

10.	Provisions for liabilities

		2026
		£
	Net deferred tax liability (asset)	21,712
	Total	21,712

11.	Related party transactions
	During the year the Director loaned the Company £82,495. This loan was repayable upon demand. Interest was paid on this amount by the company in line with the official beneficial loan rate.

	Notes	2026
		£	£
Fixed assets
Intangible assets	3		767,688
Tangible assets	4		90,467
			858,155
Current assets
Stocks	5	12,000
Debtors	6	37,856
Cash at bank and on hand		100,315
		150,171
Creditors amounts falling due within one year	7	(142,295)
Net current assets (liabilities)			7,876
Total assets less current liabilities			866,031
Creditors amounts falling due after one year	8		(726,647)
Provisions for liabilities	10		(21,712)
Net assets			117,672
Capital and reserves
Called up share capital			100
Profit and loss account			117,572
Shareholders' funds			117,672