American Cosmetic Surgery Limited
Registered number: 04108918
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 499,729 444,260
Current assets
Stocks 9,723 5,171
Debtors 5 680,492 711,052
Cash at bank and in hand 3,018,751 2,363,803
3,708,966 3,080,026
Creditors: amounts falling due within one year 6 (321,292) (90,620)
Net current assets 3,387,674 2,989,406
Total assets less current liabilities 3,887,403 3,433,666
Creditors: amounts falling due after more than one year 7 (87,500) (154,433)
Net assets 3,799,903 3,279,233
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,799,803 3,279,133
Shareholder's funds 3,799,903 3,279,233
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Ioannis Kosmas Alexandrides
Director
Approved by the board on 30 November 2024
American Cosmetic Surgery Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Straight line basis over 5 years
Plant and machinery 15% on written down value
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 18 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 295,000
At 30 November 2023 295,000
Amortisation
At 1 December 2022 295,000
At 30 November 2023 295,000
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 324,326 1,025,090 1,349,416
Additions 93,900 59,241 153,141
At 30 November 2023 418,226 1,084,331 1,502,557
Depreciation
At 1 December 2022 278,087 627,069 905,156
Charge for the year 29,082 68,590 97,672
At 30 November 2023 307,169 695,659 1,002,828
Net book value
At 30 November 2023 111,057 388,672 499,729
At 30 November 2022 46,239 398,021 444,260
5 Debtors 2023 2022
£ £
SC 419 recoverable 80,069 80,069
Director's loan account 284,717 320,277
Other debtors 315,706 310,706
680,492 711,052
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 54,042 52,998
Obligations under finance lease and hire purchase contracts - 20,320
Trade creditors 1,832 3,006
Corporation tax 211,510 (1,595)
Other taxes and social security costs 25,382 7,485
Other creditors 28,526 8,406
321,292 90,620
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 87,500 137,500
Obligations under finance lease and hire purchase contracts - 16,933
87,500 154,433
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 113,500 113,500
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Dr Ioannis Kosmas Alexandrides
[Loan 1] 320,277 - (35,560) 284,717
320,277 - (35,560) 284,717
10 Other information
American Cosmetic Surgery Limited is a private company limited by shares and incorporated in England. Its registered office is:
111 Harley Street
London
W1G 6AW
11 Controlling party
The controlling party is Dr Ioannis Kosmas Alexandrides by virtue of his ownership of 100% of
the issued ordinary share capital of the company.
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