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Registered number: 11449616
PLYMOUTH LASER AESTHETICS LTD
Unaudited Financial Statements
For The Year Ended 31 July 2023
Trek Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11449616
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,000 1,000
Tangible Assets 5 38,519 59,657
Investments 6 55,000 55,000
94,519 115,657
CURRENT ASSETS
Debtors 7 25,869 -
Cash at bank and in hand 32,902 41,385
58,771 41,385
Creditors: Amounts Falling Due Within One Year 8 (118,736 ) (138,717 )
NET CURRENT ASSETS (LIABILITIES) (59,965 ) (97,332 )
TOTAL ASSETS LESS CURRENT LIABILITIES 34,554 18,325
NET ASSETS 34,554 18,325
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 34,553 18,324
SHAREHOLDERS' FUNDS 34,554 18,325
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ben Kelly
Director
4th April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
PLYMOUTH LASER AESTHETICS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11449616 . The registered office is Suite 2 The Barbican Centre Lustleigh Close, Marsh Barton Trading Estate, Exeter, Devon, EX2 8PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 0%
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
2.5. 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 statement of comprehensive income because of items of income or expense that are taxable or deductible in other year 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
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2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2022 1,000
As at 31 July 2023 1,000
Net Book Value
As at 31 July 2023 1,000
As at 1 August 2022 1,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 August 2022 5,000 43,628 34,000 3,200 85,828
Additions - - 5,500 8,600 14,100
Disposals - - (34,000 ) - (34,000 )
As at 31 July 2023 5,000 43,628 5,500 11,800 65,928
Depreciation
As at 1 August 2022 - 18,228 6,120 1,823 26,171
Provided during the period - 4,572 990 1,796 7,358
Disposals - - (6,120 ) - (6,120 )
As at 31 July 2023 - 22,800 990 3,619 27,409
Net Book Value
As at 31 July 2023 5,000 20,828 4,510 8,181 38,519
As at 1 August 2022 5,000 25,400 27,880 1,377 59,657
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6. Investments
Unlisted
£
Cost
As at 1 August 2022 55,000
As at 31 July 2023 55,000
Provision
As at 1 August 2022 -
As at 31 July 2023 -
Net Book Value
As at 31 July 2023 55,000
As at 1 August 2022 55,000
7. Debtors
2023 2022
£ £
Due within one year
Director's loan account 25,869 -
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax 1,925 1,432
Other taxes and social security 40 44
VAT 6,151 -
Other creditors 107,820 130,361
Accruals and deferred income 2,800 3,720
Director's loan account - 3,160
118,736 138,717
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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