Company Registration No. 06273476 (England and Wales)
CHARLES NDUKA PLASTIC SURGERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
CHARLES NDUKA PLASTIC SURGERY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
CHARLES NDUKA PLASTIC SURGERY LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Trade mark
3
20,000
Tangible assets
4
21,509
15,757
Investments
5
20,000
41,509
35,757
Current assets
Debtors
6
414,646
161,211
Cash at bank and in hand
24,254
80,513
438,900
241,724
Creditors: amounts falling due within one year
7
(299,454)
(170,743)
Net current assets
139,446
70,981
Total assets less current liabilities
180,955
106,738
Creditors: amounts falling due after more than one year
8
(160,786)
(61,668)
Net assets
20,169
45,070
Capital and reserves
Called up share capital
1,100
1,100
Share premium account
19,000
19,000
Profit and loss reserves
69
24,970
Total equity
20,169
45,070
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 year ended 30 June 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 year 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.
CHARLES NDUKA PLASTIC SURGERY LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 March 2024 and are signed on its behalf by:
Mr Charles Nduka
Director
Company Registration No. 06273476
CHARLES NDUKA PLASTIC SURGERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information
Charles Nduka Plastic Surgery Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.
1.1
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents fees receivable from cosmetic surgery.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
1.4
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:
Plant and machinery
25% reducing balance
Computer & website development
33% straight line
Motor vehicles
25% reducing balance
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.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
CHARLES NDUKA PLASTIC SURGERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks.
1.7
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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 entities under common control, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.8
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.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
CHARLES NDUKA PLASTIC SURGERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
Trade mark
Total
£
£
£
Cost
At 1 July 2022
40,000
40,000
Additions
20,000
20,000
At 30 June 2023
40,000
20,000
60,000
Amortisation and impairment
At 1 July 2022 and 30 June 2023
40,000
40,000
Carrying amount
At 30 June 2023
20,000
20,000
At 30 June 2022
CHARLES NDUKA PLASTIC SURGERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
4
Tangible fixed assets
Plant and machinery
Computer & website development
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2022
14,555
6,204
29,155
49,914
Additions
1,154
11,890
13,044
At 30 June 2023
14,555
7,358
41,045
62,958
Depreciation and impairment
At 1 July 2022
11,950
6,204
16,003
34,157
Depreciation charged in the year
651
381
6,260
7,292
At 30 June 2023
12,601
6,585
22,263
41,449
Carrying amount
At 30 June 2023
1,954
773
18,782
21,509
At 30 June 2022
2,605
13,152
15,757
5
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
20,000
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 July 2022
20,000
Transfer
(20,000)
At 30 June 2023
-
Carrying amount
At 30 June 2023
-
At 30 June 2022
20,000
CHARLES NDUKA PLASTIC SURGERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
81,265
56,030
Amounts owed by entities under common control
10,543
8,043
Other debtors
322,838
97,138
414,646
161,211
Other debtors include an amount of £238,980 (2022: £70,676) due from the director of the company and it is repayable on demand.
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
45,006
20,000
Trade creditors
536
456
Corporation tax
141,852
94,747
Other taxation and social security
2,541
2,576
Other creditors
294
294
Accruals and deferred income
109,225
52,670
299,454
170,743
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
160,786
61,668