Smile Care (Holdings) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08612662 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Smile Care (Holdings) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr J S Dhariwal

Mrs V K Dhariwal

REGISTERED OFFICE:

24 High Street

Slough

SL1 1EQ

REGISTERED NUMBER:

08612662 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

4

20,933

26,470

Investments

5

205,054

311

225,987

26,781

CURRENT ASSETS

Debtors

6

426,942

586,830

Cash at bank

1,878

2,441

428,820

589,271

CREDITORS

Amounts falling due within one year

7

615,393

590,033

NET CURRENT LIABILITIES

(186,573

)

(762

)

TOTAL ASSETS LESS CURRENT LIABILITIES

39,414

26,019

CREDITORS

Amounts falling due after more than one year

8

(20,278

)

(24,283

)

PROVISIONS FOR LIABILITIES

-

(34

)

NET ASSETS

19,136

1,702

CAPITAL AND RESERVES

Called up share capital

10

100

1

Retained earnings

19,036

1,701

SHAREHOLDERS' FUNDS

19,136

1,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 12 December 2017 and were signed on its behalf by:

Dr J S Dhariwal - Director

1.	STATUTORY INFORMATION

Smile Care (Holdings) Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As at 31 March 2017, the balance sheet showed net liabilities. The company continues to trade with the support

of Dr J S Dhariwal, the director, and that of the group..

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 March 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 April 2015.

Preparation of consolidated financial statements

The financial statements contain information about Smile Care (Holdings) Ltd as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

Fixed asset investments

Fixed asset investments are stated at cost less provision for any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2016 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

32,074

1,217

33,291

DEPRECIATION

At 1 April 2016

6,415

406

6,821

Charge for year

5,132

405

5,537

At 31 March 2017

11,547

811

12,358

NET BOOK VALUE

At 31 March 2017

20,527

406

20,933

At 31 March 2016

25,659

811

26,470

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2016

and 31 March 2017

32,074

DEPRECIATION

At 1 April 2016

6,415

Charge for year

5,132

At 31 March 2017

11,547

NET BOOK VALUE

At 31 March 2017

20,527

At 31 March 2016

25,659

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

311

Additions

204,743

At 31 March 2017

205,054

NET BOOK VALUE

At 31 March 2017

205,054

At 31 March 2016

311

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Amounts owed by group undertakings

324,760

71,830

Other debtors

2,783

-

Related party loans

99,174

-

Deferred tax asset

Accelerated capital allowances

120

-

Prepayments and accrued income

105

515,000

426,942

586,830

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

4,005

3,758

Trade creditors

5,059

4,778

Amounts owed to group undertakings

573,273

569,059

Social security and other taxes

9,652

9,950

Other creditors

18,942

-

Directors' current accounts

-

346

Accruals and deferred income

4,462

2,142

615,393

590,033

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

20,278

24,283

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Hire purchase contracts

24,283

28,041

The liabilities included as Hire Purchase are secured against the assets as shown in the Tangible Fixed Assets

note.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

51

Ordinary

£1

51

1

49

Ordinary B

£1

49

-

100

1

The following shares were issued during the year for cash at par :

50 Ordinary shares of £1

49 Ordinary B shares of £1

11.	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 £33,600 (2016 £42,000).

12.	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.