Company registration number 05196935 (England and Wales)
MEDISKIN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MEDISKIN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MEDISKIN LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
1
4
Creditors: amounts falling due within one year
4
(171,329)
(171,354)
Net current liabilities
(171,328)
(171,350)
Capital and reserves
Called up share capital
5
200
200
Profit and loss reserves
(171,528)
(171,550)
Total equity
(171,328)
(171,350)

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

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 and signed by the director and authorised for issue on 14 April 2025
Mr G Mattu
Director
Company registration number 05196935 (England and Wales)
MEDISKIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Mediskin Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Castle Court 2, Castle Gate Way, Dudley, England, DY1 4RH.

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 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
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Plant and machinery
20% Straight Line
Fixtures, fittings & equipment
20% Straight Line

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.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

 

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

MEDISKIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

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

2023
2022
Number
Number
Total
1
1
MEDISKIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
21,375
Depreciation and impairment
At 1 January 2023 and 31 December 2023
21,375
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
-
0
720
Other creditors
170,729
169,908
Accruals and deferred income
600
726
171,329
171,354
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
200
200
200
200

The following amounts were outstanding at the reporting end date:

7
Parent company

Mediskin Limited is controlled by Mr & Mrs Mattu by virtue of their combined shareholding.

2023-12-312023-01-01falsefalsefalse14 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr G Mattu051969352023-01-012023-12-31051969352023-12-31051969352022-12-3105196935core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3105196935core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3105196935core:CurrentFinancialInstruments2023-12-3105196935core:CurrentFinancialInstruments2022-12-3105196935core:ShareCapital2023-12-3105196935core:ShareCapital2022-12-3105196935core:RetainedEarningsAccumulatedLosses2023-12-3105196935core:RetainedEarningsAccumulatedLosses2022-12-3105196935core:ShareCapitalOrdinaryShareClass12023-12-3105196935core:ShareCapitalOrdinaryShareClass12022-12-3105196935bus:Director12023-01-012023-12-3105196935core:PlantMachinery2023-01-012023-12-3105196935core:FurnitureFittings2023-01-012023-12-31051969352022-01-012022-12-3105196935core:OtherPropertyPlantEquipment2022-12-3105196935core:OtherPropertyPlantEquipment2023-12-3105196935core:OtherPropertyPlantEquipment2022-12-3105196935bus:OrdinaryShareClass12023-01-012023-12-3105196935bus:OrdinaryShareClass12023-12-3105196935bus:OrdinaryShareClass12022-12-3105196935bus:PrivateLimitedCompanyLtd2023-01-012023-12-3105196935bus:FRS1022023-01-012023-12-3105196935bus:AuditExemptWithAccountantsReport2023-01-012023-12-3105196935bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105196935bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP