Smile By Design Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05479912 (England and Wales)

Abbreviated Unaudited Accounts For The Year Ended 31 October 2016

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

1,453,846

1,575,000

Tangible assets

3

412,102

418,786

1,865,948

1,993,786

CURRENT ASSETS

Stocks

15,590

15,284

Debtors

112,191

103,291

Cash at bank

7,362

39,293

135,143

157,868

CREDITORS

Amounts falling due within one year

862,316

1,132,208

NET CURRENT LIABILITIES

(727,173

)

(974,340

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,138,775

1,019,446

CREDITORS

Amounts falling due after more than one
year

4

(678,873

)

(734,240

)

PROVISIONS FOR LIABILITIES

(839

)

(730

)

NET ASSETS

459,063

284,476

CAPITAL AND RESERVES

Called up share capital

5

1

Capital redemption reserve

1

Profit and loss account

459,061

284,474

SHAREHOLDERS' FUNDS

459,063

284,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 13 February 2017 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 January 2015).

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, was previously

amortised evenly over its remaining estimated useful life of 20 years.The company's contract with the NHS runs

until October 2028 and in the light of this the director has reassessed the remaining useful life as 13 years from

31 October 2015 and goodwill is now being amortised evenly over this period. The director expects that the

contract will be renewed beyond 2028.

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 2015

and 31 October 2016

1,750,000

AMORTISATION

At 1 November 2015

175,000

Amortisation for year

121,154

At 31 October 2016

296,154

NET BOOK VALUE

At 31 October 2016

1,453,846

At 31 October 2015

1,575,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

438,949

Additions

1,125

At 31 October 2016

440,074

DEPRECIATION

At 1 November 2015

20,163

Charge for year

7,809

At 31 October 2016

27,972

NET BOOK VALUE

At 31 October 2016

412,102

At 31 October 2015

418,786

4.

CREDITORS

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

2016

2015

£

Repayable by instalments

369,353

415,776

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

1