Acorah Software Products - Accounts Production 14.5.501 false true false 1 March 2022 28 February 2023 28 February 2023 13924753 Mr Stuart Logan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13924753 2022-02-28 13924753 2023-02-28 13924753 2022-03-01 2023-02-28 13924753 frs-core:CurrentFinancialInstruments 2023-02-28 13924753 frs-core:Non-currentFinancialInstruments 2023-02-28 13924753 frs-core:FurnitureFittings 2023-02-28 13924753 frs-core:FurnitureFittings 2022-03-01 2023-02-28 13924753 frs-core:FurnitureFittings 2022-02-28 13924753 frs-core:PlantMachinery 2023-02-28 13924753 frs-core:PlantMachinery 2022-03-01 2023-02-28 13924753 frs-core:PlantMachinery 2022-02-28 13924753 frs-core:ShareCapital 2022-02-28 13924753 frs-core:ShareCapital 2023-02-28 13924753 frs-core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 13924753 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-02-28 13924753 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 13924753 frs-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13924753 frs-bus:FilletedAccounts 2022-03-01 2023-02-28 13924753 frs-bus:SmallEntities 2022-03-01 2023-02-28 13924753 frs-bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 13924753 frs-bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13924753 frs-bus:Director1 2022-03-01 2023-02-28 13924753 frs-bus:Director1 2022-02-28 13924753 frs-bus:Director1 2023-02-28 13924753 frs-countries:EnglandWales 2022-03-01 2023-02-28
Registered number: 13924753
DERMOPERFECTION MEDICAL LTD
Unaudited Financial Statements
For The Year Ended 28 February 2023
2 Vat Ladies Ltd T/A CMS Pub Accountancy
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 13924753
2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 185,875
185,875
CURRENT ASSETS
Stocks 5 10,000
Debtors 6 28,084
Cash at bank and in hand 12,346
50,430
Creditors: Amounts Falling Due Within One Year 7 (144,636 )
NET CURRENT ASSETS (LIABILITIES) (94,206 )
TOTAL ASSETS LESS CURRENT LIABILITIES 91,669
Creditors: Amounts Falling Due After More Than One Year 8 (127,845 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,813 )
NET LIABILITIES (45,989 )
CAPITAL AND RESERVES
Called up share capital 9 100
Profit and Loss Account (46,089 )
SHAREHOLDERS' FUNDS (45,989)
Page 1
Page 2
For the year ending 28 February 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 Stuart Logan
Director
08/04/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 March 2022 100 - 100
Loss for the year and total comprehensive income - (46,089 ) (46,089)
As at 28 February 2023 100 (46,089 ) (45,989)
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Page 4
Notes to the Financial Statements
1. General Information
DERMOPERFECTION MEDICAL LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13924753 . The registered office is Apartment 1709 The Cube East, 200 Wharfside Street, Birmingham, B1 1PR.
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. 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:
Plant & Machinery 20% Straight Line
Fixtures & Fittings 10% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
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2.6. 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 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 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 assets reflect 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.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4
4
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2022 - - -
Additions 48,449 138,960 187,409
As at 28 February 2023 48,449 138,960 187,409
Depreciation
As at 1 March 2022 - - -
Provided during the period 877 657 1,534
As at 28 February 2023 877 657 1,534
Net Book Value
As at 28 February 2023 47,572 138,303 185,875
As at 1 March 2022 - - -
5. Stocks
2023
£
Materials 10,000
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Page 6
6. Debtors
2023
£
Due within one year
Other debtors 28,084
7. Creditors: Amounts Falling Due Within One Year
2023
£
Trade creditors 116,057
Youlend Loans 21,538
Other creditors 6,455
Taxation and social security 586
144,636
8. Creditors: Amounts Falling Due After More Than One Year
2023
£
Other loans 127,845
9. Share Capital
2023
£
Allotted, Called up and fully paid 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2022 Amounts advanced Amounts repaid Amounts written off As at 28 February 2023
£ £ £ £ £
Mr Stuart Logan - 4,490 - - 4,490
The above loan is unsecured, interest free and repayable on demand.
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