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Registered number: 10069191
Skin Insight Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
LK & Associates Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Skin Insight Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Skin Insight Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Skin Insight Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Skin Insight Ltd and state those matters that we have agreed to state to the director of Skin Insight Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skin Insight Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Skin Insight Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Skin Insight Ltd . You consider that Skin Insight Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Skin Insight Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
LK & Associates Limited
02/09/2024
LK & Associates Limited
ICAEW Chartered Accountants
2a High Street
Thames Ditton
KT7 0RY
Page 1
Page 2
Balance Sheet
Registered number: 10069191
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 676
Tangible Assets 5 289 325
289 1,001
CURRENT ASSETS
Debtors 6 1,085 2,600
Cash at bank and in hand 4,603 4,461
5,688 7,061
Creditors: Amounts Falling Due Within One Year 7 (32,820 ) (32,403 )
NET CURRENT ASSETS (LIABILITIES) (27,132 ) (25,342 )
TOTAL ASSETS LESS CURRENT LIABILITIES (26,843 ) (24,341 )
NET LIABILITIES (26,843 ) (24,341 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (26,943 ) (24,441 )
SHAREHOLDERS' FUNDS (26,843) (24,341)
Page 2
Page 3
For the year ending 31 March 2024 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 her 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
K Mawhinney
Director
02/09/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Skin Insight Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10069191 . The registered office is 2A High Street, Thames Ditton, Surrey, KT7 0RY.
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 - Other Intangible
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences are being amortised evenly over their estimated useful life of three 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:
Fixtures & Fittings 33.33%
Computer Equipment 25%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 April 2023 5,708
As at 31 March 2024 5,708
Amortisation
As at 1 April 2023 5,032
Provided during the period 676
As at 31 March 2024 5,708
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 676
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 April 2023 1,299
Additions 371
As at 31 March 2024 1,670
Depreciation
As at 1 April 2023 974
Provided during the period 407
As at 31 March 2024 1,381
Net Book Value
As at 31 March 2024 289
As at 1 April 2023 325
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,000 -
Other debtors 85 2,600
1,085 2,600
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11 11
Other creditors 32,809 32,392
32,820 32,403
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5