Company Registration No. 7523763 (England and Wales)
MD Cosmedico Limited
Unaudited accounts
for the year ended 30 April 2024
MD Cosmedico Limited
Unaudited accounts
Contents
MD Cosmedico Limited
Company Information
for the year ended 30 April 2024
Company Number
7523763 (England and Wales)
Registered Office
Virginia Heights
Knowle Hill
Virginia Water
Surrey
GU25 4HZ
Accountants
Ashby & Company
Flat 5
2 Courts Hill Road
Haslemere
Surrey
GU27 2EG
MD Cosmedico Limited
Statement of financial position
as at 30 April 2024
Tangible assets
69,220
49,564
Cash at bank and in hand
281
1,019
Creditors: amounts falling due within one year
(72,440)
(53,140)
Net current liabilities
(41,526)
(31,301)
Total assets less current liabilities
27,694
18,263
Creditors: amounts falling due after more than one year
(14,505)
(8,352)
Provisions for liabilities
Deferred tax
(13,153)
(9,418)
Called up share capital
2
2
Profit and loss account
34
491
Shareholders' funds
36
493
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 December 2024 and were signed on its behalf by
Mrs M Di Iulio
Director
Company Registration No. 7523763
MD Cosmedico Limited
Notes to the Accounts
for the year ended 30 April 2024
MD Cosmedico Limited is a private company, limited by shares, registered in England and Wales, registration number 7523763. The registered office is Virginia Heights, Knowle Hill, Virginia Water, Surrey, GU25 4HZ.
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is measured at the fair value of the consideration received or receivable for beauty treatment services, net of VAT and discounts, provided in the normal course of business.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Basic financial instruments are recognised at amortised cost.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
MD Cosmedico Limited
Notes to the Accounts
for the year ended 30 April 2024
3
Tangible fixed assets
Plant & machinery
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
24,613
-
Amounts falling due within one year
Other debtors
23,962
13,339
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,310
3,981
Obligations under finance leases and hire purchase contracts
9,812
-
Taxes and social security
13,776
19,712
Other creditors
41,561
26,731
Included in other creditors are unsecured, interest free loans payable of £4,727 (2023: £4,727). The loans are repayable on demand.
Included in other creditors are secured loans of £9,749 (2023: £nil). The loans are secured by the shareholders personally and have interest charged at 33.90%.
MD Cosmedico Limited
Notes to the Accounts
for the year ended 30 April 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
7,000
-
The bank loan outstanding is secured by the government and the other loan is secured by the shareholders of the company.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
9,973
7,943
-
17,916
The loan to the participator is unsecured and repayable on demand. Interest of £304 (2023: £425) has been charged at the official rate.
9
Transactions with related parties
There is an amount due of £6,970 (2023: £5,810) to a company under company control. The amount due is unsecured, interest free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).