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

REGISTERED NUMBER: 08763057 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Smile Care (Cornwall) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Dr J S Dhariwal

REGISTERED OFFICE:

24 High Street

Slough

Berkshire

SL1 1EQ

REGISTERED NUMBER:

08763057 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Intangible assets

4

867,915

991,903

Tangible assets

5

94,038

104,044

961,953

1,095,947

CURRENT ASSETS

Stocks

7,600

7,600

Debtors

6

338,025

424,216

Cash at bank and in hand

886,078

161,931

1,231,703

593,747

CREDITORS

Amounts falling due within one year

7

1,333,927

1,395,914

NET CURRENT LIABILITIES

(102,224

)

(802,167

)

TOTAL ASSETS LESS CURRENT LIABILITIES

859,729

293,780

PROVISIONS FOR LIABILITIES

13,026

8,199

NET ASSETS

846,703

285,581

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

846,603

285,481

SHAREHOLDERS' FUNDS

846,703

285,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 16 December 2021 and were signed by:

Dr J S Dhariwal - Director

1.	STATUTORY INFORMATION

Smile Care (Cornwall) 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 2018, 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

-

10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

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 19 (2020 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

1,239,879

AMORTISATION

At 1 April 2020

247,976

Charge for year

123,988

At 31 March 2021

371,964

NET BOOK VALUE

At 31 March 2021

867,915

At 31 March 2020

991,903

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2020

102,635

77,426

12,566

7,093

199,720

Additions

-

-

-

13,445

13,445

At 31 March 2021

102,635

77,426

12,566

20,538

213,165

DEPRECIATION

At 1 April 2020

48,030

38,192

4,368

5,086

95,676

Charge for year

11,531

7,847

1,639

2,434

23,451

At 31 March 2021

59,561

46,039

6,007

7,520

119,127

NET BOOK VALUE

At 31 March 2021

43,074

31,387

6,559

13,018

94,038

At 31 March 2020

54,605

39,234

8,198

2,007

104,044

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

102,171

66,411

Amounts owed by group undertakings

-

170,753

Other debtors

55,066

51,264

Related party loans

180,788

135,788

338,025

424,216

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

147,732

98,835

Amounts owed to group undertakings

882,032

1,045,427

Tax

188,176

55,148

Social security and other taxes

7,564

4,564

Other creditors

25,289

51,168

Accruals and deferred income

83,134

140,772

1,333,927

1,395,914

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

100

Ordinary

£1

100

100

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 £341,675 (2020 - £379,475)

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

In accordance with FRS 102, section 1A point 35, the following section details the transactions/balances which are the aggregate figures form the following relationships:

1. Owners holding a participating interest in the small entity

2. Companies in which the small entity itself has a participating interest

3. The small entity's directors

Balances excluded include:

a. Transactions/balances between two or more members of a group, where each subsidiary is wholly owned by such a member.

Note - these balances are reported as "Amounts owing to group undertakings" in the notes to the financial statements, under the note for Debtors, and the note for Creditors (where relevant)

b. Transactions/balances with the director(s), as these are normal market conditions for owner-managed companies of this size and nature.

c. Other transactions/balances not required by FRS 102 section 1A, with related parties under common control with the director.

Note - these balances are reported as "Related party loan" in the notes to the financial statements, under the note for Debtors, and the note for Creditors (where relevant)

Balances outstanding

The following include loans with entities within the group that are not connected via a 100% ownership.

The totals held at the balance sheet date are:

31.3.21

31.3.20

Balances owing to/(from):

£

£

No reportable balances

-

-

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