REGISTERED NUMBER: 07007647 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2024

for

Derma SKA Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M K Baig

S Ditta

REGISTERED OFFICE:

315, Regents Park Road

Finchley Central

London

N3 1DP

REGISTERED NUMBER:

07007647 (England and Wales)

FIXED ASSETS

Tangible assets

4

571,873

596,918

CURRENT ASSETS

Stocks

5

1,218

1,428

Debtors

6

8,190

-

Cash at bank

33,797

7,686

43,205

9,114

CREDITORS

Amounts falling due within one year

7

143,859

144,196

NET CURRENT LIABILITIES

(100,654

)

(135,082

)

TOTAL ASSETS LESS CURRENT LIABILITIES

471,219

461,836

CREDITORS

Amounts falling due after more than one year

8

(87,633

)

(109,162

)

PROVISIONS FOR LIABILITIES

(48,198

)

(41,383

)

NET ASSETS

335,388

311,291

CAPITAL AND RESERVES

Called up share capital

10

101

101

Retained earnings

335,287

311,190

SHAREHOLDERS' FUNDS

335,388

311,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by:

M K Baig - Director

S Ditta - Director

1.	STATUTORY INFORMATION

Derma SKA Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 & machinery 20% reducing balance

Fixtures and fittings 25% reducing balance

Office equipment 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

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.

Cash at bank and in hand

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 October 2023

379,111

414,624

27,336

3,628

824,699

Additions

-

22,158

1,327

828

24,313

At 30 September 2024

379,111

436,782

28,663

4,456

849,012

DEPRECIATION

At 1 October 2023

-

215,002

11,697

1,082

227,781

Charge for year

-

44,356

4,191

811

49,358

At 30 September 2024

-

259,358

15,888

1,893

277,139

NET BOOK VALUE

At 30 September 2024

379,111

177,424

12,775

2,563

571,873

At 30 September 2023

379,111

199,622

15,639

2,546

596,918

5.

STOCKS

30.9.24

30.9.23

£

£

Stocks

1,218

1,428

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other debtors

8,190

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts (see note 9)

12,220

29,020

Hire purchase contracts

30,594

30,594

Trade creditors

60,165

39,819

Taxation and social security

40,880

44,422

Other creditors

-

341

143,859

144,196

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans (see note 9)

20,424

29,388

Hire purchase contracts

67,209

79,774

87,633

109,162

9.

LOANS

An analysis of the maturity of loans is given below:

30.9.24

30.9.23

£

£

Amounts falling due within one year or on demand:

Bank loans

12,220

29,020

Amounts falling due between one and two years:

Bank loans - 1-2 years

12,220

12,220

Amounts falling due between two and five years:

Bank loans - 2-5 years

8,204

17,168

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

£

101

Ordinary Shares

£1

101

101