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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
Page
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MD Cosmedico Limited Company Information for the year ended 30 April 2024
Director
Mrs M Di Iulio
Secretary
Mr G Di Iulio
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
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MD Cosmedico Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
69,220 
49,564 
Current assets
Debtors
30,633 
20,820 
Cash at bank and in hand
281 
1,019 
30,914 
21,839 
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)
Net assets
36 
493 
Capital and reserves
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
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MD Cosmedico Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
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.
2
Accounting policies
Accounting convention
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.
Going concern
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
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
Leased assets
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.
Financial instruments
Basic financial instruments are recognised at amortised cost.
Deferred taxation
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.
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MD Cosmedico Limited Notes to the Accounts for the year ended 30 April 2024
3
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 May 2023
99,094 
Additions
28,675 
At 30 April 2024
127,769 
Depreciation
At 1 May 2023
49,530 
Charge for the year
9,019 
At 30 April 2024
58,549 
Net book value
At 30 April 2024
69,220 
At 30 April 2023
49,564 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
24,613 
- 
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,671 
7,481 
Other debtors
23,962 
13,339 
30,633 
20,820 
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 
- 
Trade creditors
106 
136 
Taxes and social security
13,776 
19,712 
Other creditors
41,561 
26,731 
Accruals
2,875 
2,580 
72,440 
53,140 
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%.
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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 
£ 
£ 
Bank loans
4,023 
8,352 
Obligations under finance leases and hire purchase contracts
7,000 
- 
Other creditors
3,482 
- 
14,505 
8,352 
The bank loan outstanding is secured by the government and the other loan is secured by the shareholders of the company.
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mrs M Di Iulio
Loan to director
9,973 
7,943 
- 
17,916 
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).
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