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Registration number: 14822652

The MW Clinic London Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

The MW Clinic London Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

The MW Clinic London Limited

(Registration number: 14822652)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,597

150

Current assets

 

Stocks

1,000

1,000

Debtors

5

23,940

4,331

Cash at bank and in hand

 

3,254

16,569

 

28,194

21,900

Creditors: Amounts falling due within one year

6

(27,757)

(22,179)

Net current assets/(liabilities)

 

437

(279)

Total assets less current liabilities

 

13,034

(129)

Provisions for liabilities

(2,393)

-

Net assets/(liabilities)

 

10,641

(129)

Capital and reserves

 

Called up share capital

20

20

Retained earnings

10,621

(149)

Shareholders' funds/(deficit)

 

10,641

(129)

 

The MW Clinic London Limited

(Registration number: 14822652)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 May 2025
 

.........................................
M C Cope
Director

 

The MW Clinic London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of aesthetic, dermatology and hair loss services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The MW Clinic London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% straight line basis

Plant and Machinery

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

The MW Clinic London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

-

168

168

Additions

12,232

1,687

13,919

At 31 December 2024

12,232

1,855

14,087

Depreciation

At 1 January 2024

-

18

18

Charge for the year

1,252

220

1,472

At 31 December 2024

1,252

238

1,490

Carrying amount

At 31 December 2024

10,980

1,617

12,597

At 31 December 2023

-

150

150

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

890

Prepayments

12,170

19

Other debtors

11,770

3,422

 

23,940

4,331

 

The MW Clinic London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,535

15,656

Taxation and social security

2,068

4,768

Other creditors

22,154

1,755

27,757

22,179

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £47,000 (2023 - £Nil).

 

The MW Clinic London Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Related party transactions

Summary of transactions with other related parties

During the year the company made the following related party transactions:

By Dr Meg Limited (a company of which M C Cope is also a director) made sales in the period to The MW Clinic Limited. The total value of sales made in the period was £86,500 (2023: 43,500). At the balance sheet date the amount owed to By Dr Meg Limited is Nil (2023: £13,800).

M C Cope, a director, has a loan with the company. The amount owed to M C Cope at the balance sheet date was £20,409 (2023:Nil).