Smiles4Life Ltd Accounts






Smiles4Life Ltd
	Company No. 08671233
		Information for Filing with The Registrar
		31 August 2017

The Director presents his report and the accounts for the year ended 31 August 2017.

Principal activities
The principal activity of the company during the year under review was Dental Practice Activities. Dental practice activities




Director

The Director who served at any time during the year was as follows:

K. Ahmed



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

K. Ahmed
Director
31 August 2017

at	31 August 2017

Company No.		08671233	Notes	2017	2016
				£	£
Fixed assets
	Intangible assets		2	45,654	69,235
	Tangible assets		3	282	1,479


				45,936	70,714
Current assets

	Debtors		4	3,600	3,600

	Cash at bank and in hand			135,884	59,611
				139,484	63,211
Creditors: Amount falling due within one year			5	(179,064)	(133,733)
Net current liabilities				(39,580)	(70,522)
Total assets less current liabilities				6,356	192




Net assets				6,356	192

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		6	6,355	191

Total equity				6,356	192


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 August 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 August 2017

And signed on its behalf by:

K. Ahmed
Director

for the year ended 31 August 2017

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses. Formation Costs are not being amortised.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

25% Straight Line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Intangible fixed assets
			Goodwill	Other	Total
			£	£	£
		Cost
		At 1 September 2016	117,904	65	117,969


		At 31 August 2017	117,904	65	117,969
		Amortisation and impairment
		At 1 September 2016	48,734	-	48,734
		Charge for the year	23,581	-	23,581


		At 31 August 2017	72,315	-	72,315
		Net book values
		At 31 August 2017	45,589	65	45,654
		At 31 August 2016	69,170	65	69,235

3	Tangible fixed assets
			Plant and machinery	Total
			£	£
		Cost or revaluation
		At 1 September 2016	4,788	4,788




		At 31 August 2017	4,788	4,788
		Depreciation
		At 1 September 2016	3,309	3,309
		Charge for the year	1,197	1,197



		At 31 August 2017	4,506	4,506
		Net book values
		At 31 August 2017	282	282
		At 31 August 2016	1,479	1,479

4	Debtors
			2017	2016
			£	£







		Prepayments and accrued income	3,600	3,600
			3,600	3,600

5	Creditors:
		amounts falling due within one year
			2017	2016
			£	£






		Corporation tax	7,972	2,722
		Other taxes and social security	233	1,401
		Loans from directors	169,478	128,395

		Accruals and deferred income	1,381	1,215
			179,064	133,733

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

7	Dividends
			2017	2016
			£	£
		Dividends for the period:
		Dividends paid in the period	27,000	15,000

			27,000	15,000

		Dividends by type:

		Equity dividends	27,000	15,000
			27,000	15,000

Related party disclosures

Controlling party

Immediate controlling party

No single party controls the company.

Additional information

Its registered number is:

08671233

Its registered office is:

Unit 1 Hermitage Court

41 Wapping High Street

London

E1W 1NR