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Registration number: 10467592

The High Brow Clinic Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Spirare Limited
Association of Chartered Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

 

The High Brow Clinic Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 8

 

The High Brow Clinic Limited

Company Information

Director

Miss L J Franzen

Registered office

Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

Accountants

Spirare Limited
Association of Chartered Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
The High Brow Clinic Limited
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The High Brow Clinic Limited for the year ended 31 March 2018 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of The High Brow Clinic Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The High Brow Clinic Limited and state those matters that we have agreed to state to the Board of Directors of The High Brow Clinic Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The High Brow Clinic Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The High Brow Clinic Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The High Brow Clinic Limited . You consider that The High Brow Clinic Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The High Brow Clinic Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Spirare Limited
Association of Chartered Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

8 October 2018

 

The High Brow Clinic Limited

(Registration number: 10467592)
Balance Sheet as at 31 March 2018

Note

2018
£

Fixed assets

 

Tangible assets

4

29,677

Current assets

 

Stocks

5

2,165

Debtors

6

2,872

Cash at bank and in hand

 

11,159

 

16,196

Creditors: Amounts falling due within one year

7

(23,350)

Net current liabilities

 

(7,154)

Total assets less current liabilities

 

22,523

Creditors: Amounts falling due after more than one year

7

(2,000)

Provisions for liabilities

(1,975)

Net assets

 

18,548

Capital and reserves

 

Called up share capital

1

Profit and loss account

18,547

Total equity

 

18,548

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

The High Brow Clinic Limited

(Registration number: 10467592)
Balance Sheet as at 31 March 2018

Approved and authorised by the director on 8 October 2018
 

.........................................

Miss L J Franzen

Director

 

The High Brow Clinic Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

These financial statements were authorised for issue by the director on 8 October 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% Reducing Balance

Plant & Machinery

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

The High Brow Clinic Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

The High Brow Clinic Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6.

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

Additions

24,373

6,665

3,011

34,049

At 31 March 2018

24,373

6,665

3,011

34,049

Depreciation

Charge for the

2,437

1,333

602

4,372

At 31 March 2018

2,437

1,333

602

4,372

Carrying amount

At 31 March 2018

21,936

5,332

2,409

29,677

Included within the net book value of land and buildings above is £21,936 in respect of short leasehold land and buildings.
 

5

Stocks

2018
£

Other inventories

2,165

6

Debtors

2018
£

Other debtors

2,872

Total current trade and other debtors

2,872

 

The High Brow Clinic Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

7

Creditors

Note

2018
£

Due within one year

 

Bank loans and overdrafts

8

3,455

Trade creditors

 

415

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

11,699

Taxation and social security

 

215

Other creditors

 

7,566

 

23,350

Due after one year

 

Loans and borrowings

8

2,000

8

Loans and borrowings

2018
£

Non-current loans and borrowings

Other borrowings

2,000

2018
£

Current loans and borrowings

Finance lease liabilities

455

Other borrowings

3,000

3,455

9

Related party transactions

Transactions with directors

2018

Advances to directors
£

Repayments by director
£

At 31 March 2018
£

Miss L J Franzen

The Director maintains an interest free loan repayable on demand

(16,937)

28,636

11,699