Hampshire Aesthetics Laser & Skin Clinic Ltd
Registered number: 14157020
Statement of Financial Position
as at 30 June 2023
Notes 2023
£
Fixed assets
Tangible assets 3 73,533
Current assets
Stocks 1,000
Debtors 4 23,738
Cash at bank and in hand 1,217
25,955
Creditors: amounts falling due within one year 5 (95,397)
Net current liabilities (69,442)
Total assets less current liabilities 4,091
Creditors: amounts falling due after more than one year 6 (21,276)
Provisions for liabilities (13,971)
Net liabilities (31,156)
Capital and reserves
Called up share capital 100
Profit and loss account (31,256)
Shareholder's funds (31,156)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Finola Sines
Director
Approved by the board on 13 November 2023
Hampshire Aesthetics Laser & Skin Clinic Ltd
Notes to the Accounts
for the period from 7 June 2022 to 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Motor vehicles 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees and directors 2023
Number
Average number of directors and persons employed by the company 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
Additions 23,450 74,595 98,045
At 30 June 2023 23,450 74,595 98,045
Depreciation
Charge for the period 5,863 18,649 24,512
At 30 June 2023 5,863 18,649 24,512
Net book value
At 30 June 2023 17,587 55,946 73,533
4 Debtors 2023
£
Other debtors 23,738
5 Creditors: amounts falling due within one year 2023
£
Obligations under finance lease and hire purchase contracts 5,319
Accruals 1,302
Other creditors 88,776
95,397
6 Creditors: amounts falling due after one year 2023
£
Obligations under finance lease and hire purchase contracts 21,276
7 Other information
Hampshire Aesthetics Laser & Skin Clinic Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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