Registration number:
Cliff Dermatology Limited
for the Period from 1 July 2023 to 31 December 2024
Cliff Dermatology Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Cliff Dermatology Limited
Company Information
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Directors |
Miss S Cliff-Patel Miss N Cliff-Patel Dr S Cliff-Patel Mrs N Cliff-Patel Miss J Cliff-Patel |
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Registered office |
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Accountants |
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Cliff Dermatology Limited
(Registration number: 07272214)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
- |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Profit and loss account |
5,363,257 |
4,950,578 |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Cliff Dermatology Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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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:
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Asset class |
Depreciation method and rate |
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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
Recognition and measurement
Impairment
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Cliff Dermatology Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 July 2023 |
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Disposals |
( |
( |
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At 31 December 2024 |
- |
- |
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Depreciation |
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At 1 July 2023 |
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Eliminated on disposal |
( |
( |
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At 31 December 2024 |
- |
- |
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Carrying amount |
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At 31 December 2024 |
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- |
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At 30 June 2023 |
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Cliff Dermatology Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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Investments |
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2024 |
2023 |
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Other Investments |
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£ |
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Cost or valuation |
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At 1 July 2023 |
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Disposals |
( |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 30 June 2023 |
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Investments above include an interest in an associated company of £1,105,500 (2023 - £1,105,500). |
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Cliff Dermatology Limited
Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2024
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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100 |
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100 |
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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
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Events after the financial period |
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