REGISTERED NUMBER: SC754830 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

Ferry Smile Studios Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr. D S Kalsi

Dr. N Sharma

REGISTERED OFFICE:

Cornerstone House

Station Road

Hawick

TD7 5DJ

REGISTERED NUMBER:

SC754830 (Scotland)

ACCOUNTANTS:

Dental Accountants Scotland Ltd

Specialist Dental Accountants & Advisors

Cornerstone House

Station Road

Selkirk

Borders

TD7 5DJ

FIXED ASSETS

Intangible assets

4

567,487

605,320

Tangible assets

5

126,240

131,082

693,727

736,402

CURRENT ASSETS

Stocks

2,000

2,500

Debtors

6

314,471

80,966

Cash at bank

31,466

18,002

347,937

101,468

CREDITORS

Amounts falling due within one year

7

362,018

218,876

NET CURRENT LIABILITIES

(14,081

)

(117,408

)

TOTAL ASSETS LESS CURRENT LIABILITIES

679,646

618,994

CREDITORS

Amounts falling due after more than one year

8

(647,919

)

(675,207

)

PROVISIONS FOR LIABILITIES

10

(31,560

)

(27,874

)

NET ASSETS/(LIABILITIES)

167

(84,087

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

67

(84,187

)

SHAREHOLDERS' FUNDS

167

(84,087

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2026 and were signed on its behalf by:

Dr. D S Kalsi - Director

1.	STATUTORY INFORMATION

Ferry Smile Studios Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

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.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

756,650

AMORTISATION

At 1 December 2024

151,330

Amortisation for year

37,833

At 30 November 2025

189,163

NET BOOK VALUE

At 30 November 2025

567,487

At 30 November 2024

605,320

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2024

197,320

430

1,038

198,788

Additions

35,551

-

2,270

37,821

At 30 November 2025

232,871

430

3,308

236,609

DEPRECIATION

At 1 December 2024

66,833

188

685

67,706

Charge for year

41,510

61

1,092

42,663

At 30 November 2025

108,343

249

1,777

110,369

NET BOOK VALUE

At 30 November 2025

124,528

181

1,531

126,240

At 30 November 2024

130,487

242

353

131,082

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade debtors

37,568

24,136

Amounts owed by group undertakings

159,971

55,927

Directors' current accounts

115,952

-

Prepayments

980

903

314,471

80,966

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts (see note 9)

10,571

8,855

Trade creditors

68,803

102,290

Credit card

767

181

Amounts owed to group undertakings

-

18,900

Tax

55,316

17,982

Social security and other taxes

58,024

53,294

Net Wages

16,532

-

Pension

2,006

702

Other creditors

147,143

10,000

Directors' current accounts

-

624

Accrued expenses

2,856

6,048

362,018

218,876

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans (see note 9)

572,919

585,207

Deferred income

75,000

90,000

647,919

675,207

9.

LOANS

An analysis of the maturity of loans is given below:

30.11.25

30.11.24

£

£

Amounts falling due within one year or on demand:

Bank loans

10,571

8,855

Amounts falling due between one and two years:

Bank loans - 1-2 years

572,919

585,207

10.	PROVISIONS FOR LIABILITIES

30.11.25

30.11.24

£

£

Deferred tax

31,560

27,874

Deferred

tax

£

Balance at 1 December 2024

27,874

Provided during year

3,686

Balance at 30 November 2025

31,560

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.25

30.11.24

value:

£

£

50

Ordinary Shares

1

50

50

50

Ordinary Shares

1

50

50

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2025 and 30 November 2024:

30.11.25

30.11.24

£

£

Dr. D S Kalsi and Dr. D S Kalsi

Balance outstanding at start of year

(312

)

(262

)

Amounts advanced

77,000

48,429

Amounts repaid

(312

)

(48,479

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

76,376

(312

)

Dr. N Sharma and Dr. N Sharma

Balance outstanding at start of year

(312

)

(262

)

Amounts advanced

77,000

48,429

Amounts repaid

(312

)

(48,479

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

76,376

(312

)