Smile By Design Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 05479912 (England and Wales)

Abbreviated Unaudited Accounts For The Year Ended 31 October 2015

for

Smile By Design Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

P Williams

REGISTERED OFFICE:

12 - 14 Percy Street

Rotherham

South Yorkshire

S65 1ED

REGISTERED NUMBER:

05479912 (England and Wales)

ACCOUNTANTS:

Andertons Liversidge & Co

Chartered Accountants

12-14 Percy Street

Rotherham

South Yorkshire

S65 1ED

FIXED ASSETS

Intangible assets

2

1,575,000

1,662,500

Tangible assets

3

418,786

426,737

1,993,786

2,089,237

CURRENT ASSETS

Stocks

15,284

15,029

Debtors

103,291

100,659

Cash at bank

39,293

3,130

157,868

118,818

CREDITORS

Amounts falling due within one year

1,132,208

1,535,710

NET CURRENT LIABILITIES

(974,340

)

(1,416,892

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,019,446

672,345

CREDITORS

Amounts falling due after more than one year

4

(734,240

)

(291,202

)

PROVISIONS FOR LIABILITIES

(730

)

(559

)

NET ASSETS

284,476

380,584

CAPITAL AND RESERVES

Called up share capital

5

1

2

Capital redemption reserve

1

-

Profit and loss account

284,474

380,582

SHAREHOLDERS' FUNDS

284,476

380,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 June 2016 and were signed by:

P Williams - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the value of goods and services supplied. NHS income is recognised based on the levels of

orthodontic activity delivered. Where there is under-delivery against target activity levels, a potential clawback

arises and a creditor is established. Private treatment is recognised based on the stage of completion.

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 twenty years.

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 etc

-

25% on reducing balance and 15% on reducing balance

Stocks

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

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

Government grants

Grants received to assist with the purchase of tangible fixed assets are amortised over a period to match the life

of the asset acquired. Revenue grants are recognised in the profit and loss account in the period in which they are

received.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

1,750,000

AMORTISATION

At 1 November 2014

87,500

Amortisation for year

87,500

At 31 October 2015

175,000

NET BOOK VALUE

At 31 October 2015

1,575,000

At 31 October 2014

1,662,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

437,668

Additions

1,281

At 31 October 2015

438,949

DEPRECIATION

At 1 November 2014

10,931

Charge for year

9,232

At 31 October 2015

20,163

NET BOOK VALUE

At 31 October 2015

418,786

At 31 October 2014

426,737

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

415,776

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

1

2