The Skin Diary Limited 14769286 false 2023-03-30 2024-03-31 2024-03-31 The principal activity of the company is the specialist medical diagnosis of skin care conditions and related treatment. Digita Accounts Production Advanced 6.30.9574.0 true true 14769286 2023-03-30 2024-03-31 14769286 2024-03-31 14769286 bus:OrdinaryShareClass1 2024-03-31 14769286 core:CurrentFinancialInstruments 2024-03-31 14769286 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14769286 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14769286 core:OtherResidualIntangibleAssets 2024-03-31 14769286 core:OfficeEquipment 2024-03-31 14769286 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 14769286 bus:SmallEntities 2023-03-30 2024-03-31 14769286 bus:AuditExemptWithAccountantsReport 2023-03-30 2024-03-31 14769286 bus:FilletedAccounts 2023-03-30 2024-03-31 14769286 bus:SmallCompaniesRegimeForAccounts 2023-03-30 2024-03-31 14769286 bus:RegisteredOffice 2023-03-30 2024-03-31 14769286 bus:CompanySecretaryDirector1 2023-03-30 2024-03-31 14769286 bus:OrdinaryShareClass1 2023-03-30 2024-03-31 14769286 bus:PrivateLimitedCompanyLtd 2023-03-30 2024-03-31 14769286 core:IntangibleAssetsOtherThanGoodwill 2023-03-30 2024-03-31 14769286 core:OtherResidualIntangibleAssets 2023-03-30 2024-03-31 14769286 core:OfficeEquipment 2023-03-30 2024-03-31 14769286 core:PlantMachinery 2023-03-30 2024-03-31 14769286 core:KeyManagementPersonnel 2023-03-30 2024-03-31 14769286 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-30 2024-03-31 14769286 1 2023-03-30 2024-03-31 14769286 2 2023-03-30 2024-03-31 14769286 3 2023-03-30 2024-03-31 14769286 countries:EnglandWales 2023-03-30 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14769286

The Skin Diary Limited

Unaudited Filleted Financial Statements

for the Period from 30 March 2023 to 31 March 2024

 

The Skin Diary Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

The Skin Diary Limited

(Registration number: 14769286)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

13,743

Tangible assets

5

325

 

14,068

Current assets

 

Stocks

6

3,909

Debtors

6,796

Cash at bank and in hand

 

43,855

 

54,560

Creditors: Amounts falling due within one year

(52,569)

Net current assets

 

1,991

Total assets less current liabilities

 

16,059

Creditors: Amounts falling due after more than one year

(145,172)

Net liabilities

 

(129,113)

Capital and reserves

 

Called up share capital

9

5

Retained earnings

(129,118)

Shareholders' deficit

 

(129,113)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

The Skin Diary Limited

(Registration number: 14769286)
Balance Sheet as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

.........................................
Simon O'Neill
Company secretary and director

 

The Skin Diary Limited

Notes to the Unaudited Financial Statements for the Period from 30 March 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71 - 75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom

These financial statements were authorised for issue by the Board on 3 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been prepared on a going concern basis. The directors have reviewed the company's plans for a period of 12 months from the date of signing the accounts and are satisfied that they can continue to adopt the going concern basis in preparing these financial statements.

Adjusting events after the financial period

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Skin Diary Limited

Notes to the Unaudited Financial Statements for the Period from 30 March 2023 to 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

Straight line over 3 years

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumualted amortisation and
subsequent impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible Assets

Straight line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

The Skin Diary Limited

Notes to the Unaudited Financial Statements for the Period from 30 March 2023 to 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 1.

 

The Skin Diary Limited

Notes to the Unaudited Financial Statements for the Period from 30 March 2023 to 31 March 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

15,000

15,000

At 31 March 2024

15,000

15,000

Amortisation

Amortisation charge

1,257

1,257

At 31 March 2024

1,257

1,257

Carrying amount

At 31 March 2024

13,743

13,743

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

349

349

At 31 March 2024

349

349

Depreciation

Charge for the period

24

24

At 31 March 2024

24

24

Carrying amount

At 31 March 2024

325

325

6

Stocks

2024
£

Inventory

3,909

 

The Skin Diary Limited

Notes to the Unaudited Financial Statements for the Period from 30 March 2023 to 31 March 2024

7

Debtors

2024
£

Prepayments

6,796

6,796

8

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

33,671

PAYE and NIC

682

VAT

291

Accruals and deferred income

3,050

Other creditors

14,875

52,569

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

145,172

Loans and borrowings relate to amounts advanced by the directors. See Note 10.

 

The Skin Diary Limited

Notes to the Unaudited Financial Statements for the Period from 30 March 2023 to 31 March 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary Shares of £0.00001 each

463,000

4.63

     

10

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

Advanced

145,172

145,172

At end of period

145,172

145,172

Terms of loans from related parties

Loans from related parties relate to amounts advanced by the directors. The advances are unsecured, interest free and have no fixed repayment date.
 

11

Non adjusting events after the financial period

CG Skin Limited
The company acquired the entire issued share capital of CG Skin Limited on 11 July 2024. CG Skin Limited owns the intellectual property arising from research and development in the field of biotechnology in relation to skincare. The Skin Diary Limited will have exclusive rights to use this intellectual property in its own business. The shares in CG Skin Limited were acquired via a share for share exchange.

Issued share capital
The company completed a funding round on 22 October 2024, issuing 90,543 £0.00001 ordinary shares at a price of £7.62 per share.