2023-03-012024-02-292024-02-29false08397290The Skin to Love Clinic 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The Skin to Love Clinic Limited

Registered Number
08397290
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

The Skin to Love Clinic Limited
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

Jane Ann Lewis

Registered Address

C/O Businessvision Unit 4, Sandy Court, Ashleigh Way
Plympton
Plymouth
PL7 5JX

Registered Number

08397290 (England and Wales)
The Skin to Love Clinic Limited
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets386,480134,569
86,480134,569
Current assets
Stocks48,0008,000
Debtors573,39113,759
Cash at bank and on hand482,710425,579
564,101447,338
Creditors amounts falling due within one year6(175,307)(201,040)
Net current assets (liabilities)388,794246,298
Total assets less current liabilities475,274380,867
Creditors amounts falling due after one year7(9,853)(49,003)
Provisions for liabilities8(21,620)-
Net assets443,801331,864
Capital and reserves
Called up share capital100100
Profit and loss account443,701331,764
Shareholders' funds443,801331,864
The financial statements were approved and authorised for issue by the Director on 18 November 2024, and are signed on its behalf by:
Jane Ann Lewis
Director
Registered Company No. 08397290
The Skin to Love Clinic Limited
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings10
Plant and machinery5
Fixtures and fittings5
Office Equipment5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year78
3.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 March 2321,842376,99824,881423,721
Additions-32,96691433,880
At 29 February 2421,842409,96425,795457,601
Depreciation and impairment
At 01 March 2319,901244,37024,881289,152
Charge for year1,94179,92210681,969
At 29 February 2421,842324,29224,987371,121
Net book value
At 29 February 24-85,67280886,480
At 28 February 231,941132,628-134,569
4.Stocks

2024

2023

££
Other stocks8,0008,000
Total8,0008,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors58,96913,759
Prepayments and accrued income672-
Total59,64113,759
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables65,63426,046
Bank borrowings and overdrafts8,1878,000
Taxation and social security65,460114,918
Finance lease and HP contracts31,00849,996
Other creditors5,0182,080
Total175,307201,040
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,85349,003
Total9,85349,003
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)21,620-
Total21,620-
9.Related party transactions
On 29th February 2024, the directors owed the company £55,959 (nil on 28th February 2023).