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REGISTERED NUMBER: 09696225 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

MEDICAL SKIN CLINICS LTD

MEDICAL SKIN CLINICS LTD (REGISTERED NUMBER: 09696225)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDICAL SKIN CLINICS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Michelle Mary Gilvarry
Niall Peter Munnelly





REGISTERED OFFICE: 1 Thames Court
Goring
Reading
Oxfordshire
RG8 9AQ





REGISTERED NUMBER: 09696225 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
Lawrence House
James Nicolson Link
Clifton Moor
York
North Yorkshire
YO30 4WG

MEDICAL SKIN CLINICS LTD (REGISTERED NUMBER: 09696225)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 74,037 86,012
76,037 90,012

CURRENT ASSETS
Stocks 41,500 41,500
Debtors 6 733,874 650,630
Cash at bank and in hand 175,764 293,405
951,138 985,535
CREDITORS
Amounts falling due within one year 7 995,432 925,977
NET CURRENT (LIABILITIES)/ASSETS (44,294 ) 59,558
TOTAL ASSETS LESS CURRENT LIABILITIES 31,743 149,570

PROVISIONS FOR LIABILITIES 17,903 22,243
NET ASSETS 13,840 127,327

CAPITAL AND RESERVES
Called up share capital 300 300
Profit and loss account 13,540 127,027
13,840 127,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MEDICAL SKIN CLINICS LTD (REGISTERED NUMBER: 09696225)

BALANCE SHEET - continued
31 JULY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:




Michelle Mary Gilvarry - Director



Niall Peter Munnelly - Director


MEDICAL SKIN CLINICS LTD (REGISTERED NUMBER: 09696225)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Medical Skin Clinics Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Furniture and equipment - 15% on reducing balance
Office equipment - 33% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


MEDICAL SKIN CLINICS LTD (REGISTERED NUMBER: 09696225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INCOME RECOGNITION
Income is recognised when goods and services have been delivered to customers such that the risks and rewards of ownership have transferred to them

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 20,000
AMORTISATION
At 1 August 2023 16,000
Amortisation for year 2,000
At 31 July 2024 18,000
NET BOOK VALUE
At 31 July 2024 2,000
At 31 July 2023 4,000

MEDICAL SKIN CLINICS LTD (REGISTERED NUMBER: 09696225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Furniture
and Office
Equipment equipment equipment Totals
£    £    £    £   
COST
At 1 August 2023 182,567 23,284 42,234 248,085
Additions 2,069 - - 2,069
At 31 July 2024 184,636 23,284 42,234 250,154
DEPRECIATION
At 1 August 2023 111,382 13,079 37,612 162,073
Charge for year 10,988 1,531 1,525 14,044
At 31 July 2024 122,370 14,610 39,137 176,117
NET BOOK VALUE
At 31 July 2024 62,266 8,674 3,097 74,037
At 31 July 2023 71,185 10,205 4,622 86,012

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 717,829 635,045
Prepayments and accrued income 16,045 15,585
733,874 650,630

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,069 16,773
Amount owed to group company 888,151 817,424
Corporation tax 55,705 51,719
Social security and other taxes 1,879 2,247
Other creditors 16,280 15,572
Accrued expenses 21,348 22,242
995,432 925,977

MEDICAL SKIN CLINICS LTD (REGISTERED NUMBER: 09696225)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £122,522 (2023: £122,597). Contributions totalling £221 (2023: £289) were payable to the fund at the year end and are included in creditors.

9. OTHER FINANCIAL COMMITMENTS

The company had capital and other commitments contracted but not provided for totalling £227,500 (2023 : £347,500 ).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company made advances to the Directors totalling £716,829 (2023: £657,545). These were repayable on demand. The company received repayments totalling £634,045 (2023: £186,113).