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REGISTERED NUMBER: 06811984 (England and Wales)














DERMA STUDIOS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






DERMA STUDIOS LTD (REGISTERED NUMBER: 06811984)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DERMA STUDIOS LTD

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTOR: Dr A E Lopez Pradere





REGISTERED OFFICE: 5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE





REGISTERED NUMBER: 06811984 (England and Wales)





ACCOUNTANTS: Miller & Co
Chartered Accountants
5 Imperial Court
Laporte Way
Luton
Bedfordshire
LU4 8FE

DERMA STUDIOS LTD (REGISTERED NUMBER: 06811984)

STATEMENT OF FINANCIAL POSITION
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 39,217 51,738

CURRENT ASSETS
Stocks 5,200 6,250
Debtors 6 165 7,021
Cash at bank 71,559 67,475
76,924 80,746
CREDITORS
Amounts falling due within one year 7 24,914 31,014
NET CURRENT ASSETS 52,010 49,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,227

101,470

CREDITORS
Amounts falling due after more than one
year

8

(6,846

)

(24,398

)

PROVISIONS FOR LIABILITIES (3,597 ) (2,046 )
NET ASSETS 80,784 75,026

CAPITAL AND RESERVES
Called up, paid and allotted share capital 1 1
Retained earnings 80,783 75,025
SHAREHOLDERS' FUNDS 80,784 75,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DERMA STUDIOS LTD (REGISTERED NUMBER: 06811984)

STATEMENT OF FINANCIAL POSITION - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





Dr A E Lopez Pradere - Director


DERMA STUDIOS LTD (REGISTERED NUMBER: 06811984)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Derma Studios Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Income is recognised when goods/services have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

DERMA STUDIOS LTD (REGISTERED NUMBER: 06811984)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 58,834 15,150 4,091 78,075
DEPRECIATION
At 1 March 2023 14,708 8,194 3,435 26,337
Charge for year 11,031 1,043 447 12,521
At 29 February 2024 25,739 9,237 3,882 38,858
NET BOOK VALUE
At 29 February 2024 33,095 5,913 209 39,217
At 28 February 2023 44,126 6,956 656 51,738

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 165 7,021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,800 3,800
Hire purchase contracts 13,752 13,752
Taxation and social security - 259
Other creditors 7,362 13,203
24,914 31,014

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,700 9,500
Hire purchase contracts 1,146 14,898
6,846 24,398

DERMA STUDIOS LTD (REGISTERED NUMBER: 06811984)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Dr A E Lopez Pradere
Balance outstanding at start of year 2,878 9,934
Amounts repaid (8,636 ) (7,056 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,758 ) 2,878

10. RELATED PARTY DISCLOSURES

The director operates a loan account with the company which is interest free and repayable on demand.

Transactions during the year can be found in the table above.