Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 13196233 Dr Jin Ah Yoo JL & H Holdings Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13196233 2023-02-28 13196233 2024-02-29 13196233 2023-03-01 2024-02-29 13196233 frs-core:CurrentFinancialInstruments 2024-02-29 13196233 frs-core:ComputerEquipment 2024-02-29 13196233 frs-core:ComputerEquipment 2023-03-01 2024-02-29 13196233 frs-core:ComputerEquipment 2023-02-28 13196233 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 13196233 frs-core:FurnitureFittings 2024-02-29 13196233 frs-core:FurnitureFittings 2023-03-01 2024-02-29 13196233 frs-core:FurnitureFittings 2023-02-28 13196233 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 13196233 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 13196233 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 13196233 frs-core:OtherResidualIntangibleAssets 2024-02-29 13196233 frs-core:OtherResidualIntangibleAssets 2023-03-01 2024-02-29 13196233 frs-core:OtherResidualIntangibleAssets 2023-02-28 13196233 frs-core:PlantMachinery 2024-02-29 13196233 frs-core:PlantMachinery 2023-03-01 2024-02-29 13196233 frs-core:PlantMachinery 2023-02-28 13196233 frs-core:ShareCapital 2024-02-29 13196233 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 13196233 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13196233 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 13196233 frs-bus:SmallEntities 2023-03-01 2024-02-29 13196233 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13196233 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13196233 1 2023-03-01 2024-02-29 13196233 frs-bus:Director1 2023-03-01 2024-02-29 13196233 frs-core:CurrentFinancialInstruments 1 2024-02-29 13196233 frs-countries:EnglandWales 2023-03-01 2024-02-29 13196233 2022-02-28 13196233 2023-02-28 13196233 2022-03-01 2023-02-28 13196233 frs-core:CurrentFinancialInstruments 2023-02-28 13196233 frs-core:ShareCapital 2023-02-28 13196233 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 13196233 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 13196233
Dermacare Ltd
Financial Statements
For The Year Ended 29 February 2024
Mibsons Limited
Chartered Certified Accountants
51 Coopers Road
Handsworth Wood
Birmingham
B20 2JU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13196233
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 100 112
Tangible Assets 5 886,938 536,979
887,038 537,091
CURRENT ASSETS
Stocks 6 4,700 2,200
Debtors 7 111,615 150,624
Cash at bank and in hand 346,683 66,412
462,998 219,236
Creditors: Amounts Falling Due Within One Year 8 (186,857 ) (149,107 )
NET CURRENT ASSETS (LIABILITIES) 276,141 70,129
TOTAL ASSETS LESS CURRENT LIABILITIES 1,163,179 607,220
PROVISIONS FOR LIABILITIES
Deferred Taxation (218,879 ) (99,241 )
NET ASSETS 944,300 507,979
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 944,299 507,978
SHAREHOLDERS' FUNDS 944,300 507,979
Page 1
Page 2
For the year ending 29 February 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
Dr Jin Ah Yoo
Director
29th November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dermacare Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13196233 . The registered office is 45 Weymouth Street, London, W1G 8BY.
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
Other intangible assets are Trade mark It is amortised to profit and loss account over its estimated economic life of 10 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:
Leasehold Over 5 & 10 years
Plant & Machinery 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 4)
10 4
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 125
As at 29 February 2024 125
Amortisation
As at 1 March 2023 13
Provided during the period 12
As at 29 February 2024 25
Net Book Value
As at 29 February 2024 100
As at 1 March 2023 112
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 16,192 566,112 25,173 5,744 613,221
Additions - 264,223 250,877 9,215 524,315
As at 29 February 2024 16,192 830,335 276,050 14,959 1,137,536
Depreciation
As at 1 March 2023 1,535 69,044 4,755 908 76,242
Provided during the period 3,238 124,443 45,125 1,550 174,356
As at 29 February 2024 4,773 193,487 49,880 2,458 250,598
Net Book Value
As at 29 February 2024 11,419 636,848 226,170 12,501 886,938
As at 1 March 2023 14,657 497,068 20,418 4,836 536,979
Page 4
Page 5
6. Stocks
2024 2023
£ £
Finished goods 4,700 2,200
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,069 1,942
Prepayments and accrued income 39,546 6,451
Other debtors 70,000 142,231
111,615 150,624
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,030 413
Corporation tax 117,133 -
Other taxes and social security 5,167 1,955
Net wages - 5,203
Other creditors- pension 1,903 70
Other creditors - DWP DEA 597 -
Accruals and deferred income 8,907 9,000
Director's loan account 120 132,466
186,857 149,107
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Ultimate Controlling Party
The company's ultimate controlling party is JL & H Holdings Ltd by virtue of his ownership of 100% of the issued share capital in the company.
Page 5