Company registration number 14345990 (England and Wales)
London Lauriston Clinic limited
Unaudited financial statements
For the period ended 31 December 2023
LONDON LAURISTON CLINIC LIMITED
London Lauriston Clinic limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LONDON LAURISTON CLINIC LIMITED
London Lauriston Clinic limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
4
512,965
Current assets
Debtors
5
309,646
Cash at bank and in hand
634,019
943,665
Creditors: amounts falling due within one year
6
(63,710)
Net current assets
879,955
Net assets
1,392,920
Capital and reserves
Called up share capital
8
1,096
Share premium account
1,581,446
Profit and loss reserves
(189,622)
Total equity
1,392,920
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 17 April 2024 and are signed on its behalf by:
Svetlana Kopanja
Director
Company registration number 14345990 (England and Wales)
LONDON LAURISTON CLINIC LIMITED
London Lauriston Clinic limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
London Lauriston Clinic limited is a private company limited by shares incorporated in England and Wales. The registered office is 34 Great Titchfield Street, London, United Kingdom, W1W 8BQ.
1.1
Reporting period
The company is reporting for the period from incorporation on 8 September 2022 to 31 December 2023. These are first year accounts and no comparative amounts are present.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings leasehold
over the useful life of the lease
Plant and machinery
10% straight line
Fixtures, fittings & equipment
20% straight line
Computer equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
LONDON LAURISTON CLINIC LIMITED
London Lauriston Clinic limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
Number
Total
2
LONDON LAURISTON CLINIC LIMITED
London Lauriston Clinic limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 8 September 2022
Additions
442,767
118,641
561,408
At 31 December 2023
442,767
118,641
561,408
Depreciation and impairment
At 8 September 2022
Depreciation charged in the Period
40,587
7,856
48,443
At 31 December 2023
40,587
7,856
48,443
Carrying amount
At 31 December 2023
402,180
110,785
512,965
5
Debtors
2023
Amounts falling due within one year:
£
Other debtors
309,646
6
Creditors: amounts falling due within one year
2023
£
Trade creditors
4,792
Other creditors
58,918
63,710
LONDON LAURISTON CLINIC LIMITED
London Lauriston Clinic limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
£
Within one year
150,000
Between two and five years
450,000
600,000
8
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
1,096 Ordinary shares of £1 each
1,096
1,096
On 8 September 2022, the Company issued 1 ordinary shares at £1 per share.
On 1 November 2022, the Company issued 94 ordinary shares at £1 per share with a premium of £1,499 per share.
On 1 November 2022, the Company issued 5 ordinary shares at £1 per share with a premium of £1,799 per share.
On 30 December 2022, the Company issued 640 ordinary shares at £1 per share with a premium of £1,499 per share.
On 20 August 2023, the Company issued 41 ordinary shares at £1 per share.
On 20 August 2023, the Company issued 35 ordinary shares at £1 per share with a premium of £1,499 per share.
On 28 December 2023, the Company issued 280 ordinary shares at £1 per share with a premium of £1,499 per share.