Smile Care Twyford Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08040584 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Smile Care Twyford Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr J S Dhariwal

J I Desai

REGISTERED OFFICE:

24 High Street

Slough

Berkshire

SL1 1EQ

REGISTERED NUMBER:

08040584 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Intangible assets

4

-

13,744

Tangible assets

5

4,407

4,705

4,407

18,449

CURRENT ASSETS

Stocks

8,000

8,000

Debtors

6

17,562

29,562

Cash at bank and in hand

681,499

493,820

707,061

531,382

CREDITORS

Amounts falling due within one year

7

710,693

554,631

NET CURRENT LIABILITIES

(3,632

)

(23,249

)

TOTAL ASSETS LESS CURRENT LIABILITIES

775

(4,800

)

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

771

(4,804

)

SHAREHOLDERS' FUNDS

775

(4,800

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 17 December 2019 and were signed on its behalf by:

Dr J S Dhariwal - Director

J I Desai - Director

1.	STATUTORY INFORMATION

Smile Care Twyford Limited is a private company, limited by shares , registered in England and Wales. 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 recognised as services are provided.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five 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.

Improvements to property

-

20% on cost

Plant and machinery

-

20% on reducing balance

Computer equipment

-

33.33% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 6 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

545,000

AMORTISATION

At 1 April 2018

531,256

Charge for year

13,744

At 31 March 2019

545,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

13,744

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2018

5,117

10,304

6,642

22,063

Additions

-

812

-

812

At 31 March 2019

5,117

11,116

6,642

22,875

DEPRECIATION

At 1 April 2018

5,117

5,608

6,633

17,358

Charge for year

-

1,101

9

1,110

At 31 March 2019

5,117

6,709

6,642

18,468

NET BOOK VALUE

At 31 March 2019

-

4,407

-

4,407

At 31 March 2018

-

4,696

9

4,705

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

-

13,835

Amounts owed by group undertakings

9,984

9,984

Other debtors

7,489

5,654

Deferred tax asset

89

89

17,562

29,562

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

52,201

39,748

Amounts owed to group undertakings

322,115

442,232

Tax

32,806

11,502

Social security and other taxes

1,328

2,161

Other creditors

48,691

43,829

Directors' current accounts

241,075

-

Accruals and deferred income

12,477

15,159

710,693

554,631

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

2

Ordinary A

£1

2

2

2

Ordinary B

£1

2

2

4

4

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had financial commitments in the form of operating leases, with future

payments expected to be £20,000 (2018 - £20,000).

10.	RELATED PARTY DISCLOSURES

Smile Care Holdings Limited and other group members

Smile Care Holdings Limited owns 50% of the ordinary shares in Smile Care Twyford Limited

All other group companies listed below are owned 100% by Smile Care Holdings Limited.

The totals held at the balance sheet date are:

31.3.19

31.3.18

£

£

Smile Care (Holdings) Limited

(101,228

)

(222,302

)

Smile Care Slough 24 Limited

(127,827

)

(93,177

)

Smile Care Cippenham Limited

9,984

9,984

Smile Care Paignton Limited

(63,060

)

(63,060

)

Smile Care Plymouth Limited

(30,000

)

(30,000

)

Smile Care Slough Limited

-

(33,693

)

Total amount due to related party at the balance sheet date

(312,131

)

(432,248

)

The loans are interest free, unsecured and repayable upon demand.

Transactions with these related parties during the year, are:

Loan repaid

Loanadvanced

£

£

Smile Care (Holdings) Limited

222,302

138,773

Smile Care Slough 24 Limited

368

35,018

Smile Care Slough Limited

33,693

-

Dr J S Dhariwal

A director of the company.

During the year, management recharges of £12,000 (2018 - £12,000) were paid to the Director's sole trade.