5 5 Cliff Dermatology Limited 07272214 false 2023-07-01 2024-12-31 2024-12-31 The principal activity of the company is provision of medical services. The company ceased trading on 31 December 2024. Digita Accounts Production Advanced 6.30.9574.0 true false true 07272214 2023-07-01 2024-12-31 07272214 2024-12-31 07272214 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-12-31 07272214 bus:OrdinaryShareClass2 bus:CumulativeShares 2024-12-31 07272214 core:CurrentFinancialInstruments 2024-12-31 07272214 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07272214 core:CostValuation 2024-12-31 07272214 core:DisposalsDecreaseInInvestments 2024-12-31 07272214 core:FurnitureFittingsToolsEquipment 2024-12-31 07272214 bus:SmallEntities 2023-07-01 2024-12-31 07272214 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-12-31 07272214 bus:FilletedAccounts 2023-07-01 2024-12-31 07272214 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-12-31 07272214 bus:RegisteredOffice 2023-07-01 2024-12-31 07272214 bus:Director1 2023-07-01 2024-12-31 07272214 bus:Director2 2023-07-01 2024-12-31 07272214 bus:Director3 2023-07-01 2024-12-31 07272214 bus:Director4 2023-07-01 2024-12-31 07272214 bus:Director5 2023-07-01 2024-12-31 07272214 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-07-01 2024-12-31 07272214 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-07-01 2024-12-31 07272214 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-12-31 07272214 bus:Agent1 2023-07-01 2024-12-31 07272214 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-12-31 07272214 1 2023-07-01 2024-12-31 07272214 countries:EnglandWales 2023-07-01 2024-12-31 07272214 2023-06-30 07272214 core:CostValuation 2023-06-30 07272214 core:FurnitureFittingsToolsEquipment 2023-06-30 07272214 2022-07-01 2023-06-30 07272214 2023-06-30 07272214 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-06-30 07272214 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-06-30 07272214 core:CurrentFinancialInstruments 2023-06-30 07272214 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 07272214 core:FurnitureFittingsToolsEquipment 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 07272214

Cliff Dermatology Limited

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 31 December 2024

 

Cliff Dermatology Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Cliff Dermatology Limited

Company Information

Directors

Miss S Cliff-Patel

Miss N Cliff-Patel

Dr S Cliff-Patel

Mrs N Cliff-Patel

Miss J Cliff-Patel

Registered office

14 Bonhill Street
London
EC2A 4BX

Accountants

Sterlings Ltd
Chartered AccountantsLawford House
Albert Place
London
N3 1QA

 

Cliff Dermatology Limited

(Registration number: 07272214)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,582

Investments

5

1,105,500

1,155,500

 

1,105,500

1,157,082

Current assets

 

Debtors

6

171,972

1,077,916

Cash at bank and in hand

 

4,280,870

2,793,788

 

4,452,842

3,871,704

Creditors: Amounts falling due within one year

7

(194,885)

(78,008)

Net current assets

 

4,257,957

3,793,696

Net assets

 

5,363,457

4,950,778

Capital and reserves

 

Called up share capital

8

200

200

Profit and loss account

5,363,257

4,950,578

Shareholders' funds

 

5,363,457

4,950,778

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

Directors' responsibilities:

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

The directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 June 2025 and signed on its behalf by:
 

.........................................
Dr S Cliff-Patel
Director

.........................................
Mrs N Cliff-Patel
Director

 

Cliff Dermatology Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 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:
14 Bonhill Street
London
EC2A 4BX
England

These financial statements were authorised for issue by the Board on 6 June 2025.

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.

Going concern

On 18 February 2025, the company completed on a disposal of its 20.69% shareholding in another company. Following the disposal, the company entered into Members' Voluntary Liquidation on 21 February 2025 and therefore the financial statements have been prepared on a basis other than going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Cliff Dermatology Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

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.

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

Furniture, fittings & equipment

25% on reducing balance

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instruments that result in the recognition of financial assets or liabilities like trade debtors, other debtors, trade creditors and other creditors, loans from banks or other third parties and loans to/from related parties.


 Recognition and measurement
Debt instruments that constitute a financing transaction are initially measured at fair value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit & loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 5 (2023 - 5).

 

Cliff Dermatology Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

6,995

6,995

Disposals

(6,995)

(6,995)

At 31 December 2024

-

-

Depreciation

At 1 July 2023

5,413

5,413

Eliminated on disposal

(5,413)

(5,413)

At 31 December 2024

-

-

Carrying amount

At 31 December 2024

-

-

At 30 June 2023

1,582

1,582

 

Cliff Dermatology Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

5

Investments

2024
£

2023
£

Other Investments

1,105,500

1,155,500

£

Cost or valuation

At 1 July 2023

1,155,500

Disposals

(50,000)

At 31 December 2024

1,105,500

Carrying amount

At 31 December 2024

1,105,500

At 30 June 2023

1,155,500

Investments above include an interest in an associated company of £1,105,500 (2023 - £1,105,500).

6

Debtors

Current

2024
£

2023
£

Trade debtors

19,171

43,697

Prepayments and accrued income

134,311

34,219

Other debtors

18,490

1,000,000

 

171,972

1,077,916

 

Cliff Dermatology Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

168,454

66,039

Accruals and deferred income

10,006

7,123

Other creditors

16,425

4,846

194,885

78,008

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary shares of £1 each

100

100

100

100

200

200

200

200

9

Related party transactions

At the balance sheet date, Dr S Cliff-Patel, a director, owed the company the sum of £5,625 (2023 - the company owed Dr S Cliff-Patel the sum of £3,611). In addition, Mrs N Cliff-Patel, a director, owed the company the sum of £12,867 (2023 - nil).

At the beginning of the financial period, a loan of £1,000,000 was outstanding from another company in which Dr S Cliff-Patel is a director, and this loan was repaid in full by the balance sheet date. Interest in the sum of £93,333 (2023 - £70,000) is included in the financial statements in respect of this loan.

No dividends arising from an investment in an unlisted company were receivable in the financial period (2023 - £103,500). Dr S Cliff-Patel is a director of the investee company.

During the period, an investment held by the company was transferred to Dr S Cliff-Patel and Mrs N Cliff-Patel, directors of Cliff Dermatology Limited, for the sum of £24,375. Additionally, tangible fixed assets were transferred to Dr S Cliff-Patel and Mrs N Cliff-Patel, during the period, for the sum of £1,358.

 

Cliff Dermatology Limited

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024

10

Events after the financial period

On 1 August 2024, the company entered into a conditional agreement to dispose of its 20.69% ordinary shareholding in another company. The disposal of the shares was completed on 18 February 2025, following satisfaction of the condition by the purchaser. The consideration for the disposal of the shares was £6,073,318 and the profit arising on disposal amounted to £4,787,482. This transaction has not been adjusted for in these financial statements.

The company entered into Members' Voluntary Liquidation on 21 February 2025.