Company registration number 03841792 (England and Wales)
CYNOSURE UK LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CYNOSURE UK LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
CYNOSURE UK LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
537,361
571,506
Current assets
Stocks
1,775,017
1,592,069
Debtors
4
7,379,393
7,889,915
Cash at bank and in hand
1,777,252
711,803
10,931,662
10,193,787
Creditors: amounts falling due within one year
5
(6,535,100)
(6,432,587)
Net current assets
4,396,562
3,761,200
Total assets less current liabilities
4,933,923
4,332,706
Provisions for liabilities
-
0
(20,505)
Net assets
4,933,923
4,312,201
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
4,933,922
4,312,200
Total equity
4,933,923
4,312,201

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 11 April 2025 and are signed on its behalf by:
E Khan
Director
Company registration number 03841792 (England and Wales)
CYNOSURE UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Cynosure UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17th Floor, Chiswick Tower, 389 High Road, London, W4 4AJ.

1.1
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 pound 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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover comprises of services rendered during the year for laser system sales, rental fees, time and material based contracts and warranty contracts.

 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 

Services are provided on a time and materials basis are recognised as they are provided.

 

Invoices for warranty contracts are issued in advance and revenue is recognised as income in the period to which they relate.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the term of the lease
Plant, machinery and equipment
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

CYNOSURE UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases are charged to profit and loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

CYNOSURE UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
33
34
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
743,748
1,055,064
1,798,812
Additions
-
0
461,498
461,498
Disposals
-
0
(820,096)
(820,096)
At 31 December 2023
743,748
696,466
1,440,214
Depreciation and impairment
At 1 January 2023
282,681
944,625
1,227,306
Depreciation charged in the year
148,750
115,088
263,838
Eliminated in respect of disposals
-
0
(588,291)
(588,291)
At 31 December 2023
431,431
471,422
902,853
Carrying amount
At 31 December 2023
312,317
225,044
537,361
At 31 December 2022
461,067
110,439
571,506
CYNOSURE UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,245,206
3,136,210
Amounts owed by group undertakings
22,125
1,169,870
Other debtors
2,606,391
1,983,521
4,873,722
6,289,601
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
2,505,671
1,600,314
Total debtors
7,379,393
7,889,915
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
311,578
499,674
Amounts owed to group undertakings
3,422,711
2,855,704
Corporation tax
487,776
290,794
Other taxation and social security
308,671
183,881
Other creditors
2,004,364
2,602,534
6,535,100
6,432,587
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Nirav Sheth
Statutory Auditor:
Charterhouse (Audit) Limited
Date of audit report:
11 April 2025
CYNOSURE UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows:

2023
2022
£
£
1,664,905
769,929
9
Parent company

The immediate parent company is Cynosure, LLC, a company incorporated in the United States of America.

 

At the balance sheet date, the directors considered the ultimate parent company and controlling party to be Clayton, Dubilier & Rice Lotus Holdings, L.P., based in the Cayman Islands and controlled by the private equity group Clayton, Dubilier & Rice.

10
Events after the reporting date

From 29 February 2024, the immediate parent company is Cynosure, LLC, a company incorporated in Germany; and Hahn & Co, a company registered in Korea, became ultimate parent company and controlling party.

2023-12-312023-01-01false11 April 2025CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedB K Savigar-JonesJ O PinedoN KakadE Khanfalsefalse038417922023-01-012023-12-31038417922023-12-31038417922022-12-3103841792core:LandBuildings2023-12-3103841792core:OtherPropertyPlantEquipment2023-12-3103841792core:LandBuildings2022-12-3103841792core:OtherPropertyPlantEquipment2022-12-3103841792core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103841792core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3103841792core:CurrentFinancialInstruments2023-12-3103841792core:CurrentFinancialInstruments2022-12-3103841792core:ShareCapital2023-12-3103841792core:ShareCapital2022-12-3103841792core:RetainedEarningsAccumulatedLosses2023-12-3103841792core:RetainedEarningsAccumulatedLosses2022-12-3103841792bus:Director42023-01-012023-12-3103841792core:LeaseholdImprovements2023-01-012023-12-3103841792core:PlantMachinery2023-01-012023-12-31038417922021-10-012022-12-3103841792core:LandBuildings2022-12-3103841792core:OtherPropertyPlantEquipment2022-12-31038417922022-12-3103841792core:LandBuildings2023-01-012023-12-3103841792core:OtherPropertyPlantEquipment2023-01-012023-12-3103841792core:WithinOneYear2023-12-3103841792core:WithinOneYear2022-12-3103841792core:AfterOneYear2023-12-3103841792core:AfterOneYear2022-12-3103841792bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103841792bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103841792bus:FRS1022023-01-012023-12-3103841792bus:Audited2023-01-012023-12-3103841792bus:Director12023-01-012023-12-3103841792bus:Director22023-01-012023-12-3103841792bus:Director32023-01-012023-12-3103841792bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP