2023-09-012024-08-312024-08-31false05908321GLOW MEDICAL AESTHETICS 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GLOW MEDICAL AESTHETICS LTD

Registered Number
05908321
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

GLOW MEDICAL AESTHETICS LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

DONDOS, Vicky, Dr

Company Secretary

DONDOS, Vicky, Dr

Registered Address

Medicetics 37 Connaught Street
Hyde Park
London
W2 2AZ

Registered Number

05908321 (England and Wales)
GLOW MEDICAL AESTHETICS LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3142,967187,247
142,967187,247
Current assets
Stocks449,49676,356
Debtors5378,639390,600
Cash at bank and on hand38,80189,898
466,936556,854
Creditors amounts falling due within one year6(472,798)(397,314)
Net current assets (liabilities)(5,862)159,540
Total assets less current liabilities137,105346,787
Creditors amounts falling due after one year7(93,684)(263,968)
Provisions for liabilities9(35,694)(46,812)
Net assets7,72736,007
Capital and reserves
Called up share capital100100
Profit and loss account7,62735,907
Shareholders' funds7,72736,007
The financial statements were approved and authorised for issue by the Director on 29 May 2025, and are signed on its behalf by:
DONDOS, Vicky, Dr
Director
Registered Company No. 05908321
GLOW MEDICAL AESTHETICS LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and goods.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Long leasehold - 5% on cost Plant and machinery - 14% on cost Fixtures and fittings - 25% on cost Motor vehicles - 25% reducing balance Office equipment - 33% on cost
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year910
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 September 2324,031155,79795,6061,51910,301287,254
Additions---7281,6612,389
At 31 August 2424,031155,79795,6062,24711,962289,643
Depreciation and impairment
At 01 September 233,60873,08516,1749876,153100,007
Charge for year1,20222,25719,8584442,90846,669
At 31 August 244,81095,34236,0321,4319,061146,676
Net book value
At 31 August 2419,22160,45559,5748162,901142,967
At 31 August 2320,42382,71279,4325324,148187,247
4.Stocks

2024

2023

££
Finished goods49,49676,356
Total49,49676,356
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables38,15027,128
Amounts owed by associates and joint ventures / participating interests5,79928,243
Other debtors321,371328,010
Prepayments and accrued income13,3197,219
Total378,639390,600
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables104,94045,134
Bank borrowings and overdrafts157,136151,166
Taxation and social security185,816189,031
Finance lease and HP contracts12,6786,478
Other creditors6,4874,557
Accrued liabilities and deferred income5,741948
Total472,798397,314
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts27,450185,334
Other creditors66,23478,634
Total93,684263,968
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts66,23478,634
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)35,69446,812
Total35,69446,812
10.Operating lease commitments
At 31 August 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £472,900 (2023 – £515,974).
11.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
DONDOS, Vicky, Dr73,662100,9390174,601
73,662100,9390174,601
12.Related party transactions
As at 31 August 2024, the outstanding balance on the loan made to the director by the company was £174,601.41 (2023: 73,662.05). Interest at the rate of 2.25% per annum is payable on the loan.