Registered number
12372660
Plymouth Dermatology Limited
Unaudited Filleted Accounts
31 December 2024
Plymouth Dermatology Limited
Registered number: 12372660
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 2,400
Tangible assets 4 35,212 40,581
Investments 5 5 -
35,217 42,981
Current assets
Debtors 6 535,208 300,832
Cash at bank and in hand 337,004 219,089
872,212 519,921
Creditors: amounts falling due within one year 7 (164,120) (135,725)
Net current assets 708,092 384,196
Total assets less current liabilities 743,309 427,177
Provisions for liabilities (8,804) -
Net assets 734,505 427,177
Capital and reserves
Called up share capital 51 51
Share premium 2,593 2,593
Profit and loss account 731,861 424,533
Shareholders' funds 734,505 427,177
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr T Nelson
Director
Approved by the board on 11 September 2025
Plymouth Dermatology Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Motor Vehicles 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 12,000
At 31 December 2024 12,000
Amortisation
At 1 January 2024 9,600
Provided during the year 2,400
At 31 December 2024 12,000
Net book value
At 31 December 2024 -
At 31 December 2023 2,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 7,959 58,190 66,149
Additions 5,325 - 5,325
At 31 December 2024 13,284 58,190 71,474
Depreciation
At 1 January 2024 4,620 20,948 25,568
Charge for the year 3,246 7,448 10,694
At 31 December 2024 7,866 28,396 36,262
Net book value
At 31 December 2024 5,418 29,794 35,212
At 31 December 2023 3,339 37,242 40,581
5 Investments
Other
investments
£
Cost
Additions 5
At 31 December 2024 5
6 Debtors 2024 2023
£ £
Trade debtors 14,002 20,681
Amounts owed by group undertakings and undertakings in which the company has a participating interest 467,396 248,001
Other debtors 53,810 32,150
535,208 300,832
Amounts due after more than one year included above 491,386 271,991
7 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 162,227 134,237
Other creditors 1,893 1,488
164,120 135,725
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Dr T Nelson
Directors Loan Account - 9,706 - 9,706
- 9,706 - 9,706
During the year the company made a loan to the director. The amount owed by the director at 31 December 2024 was £9,706. The loan was repaid within 9 months of the year-end. The loan was interest free and repayable on demand.
9 Related party transactions
During earlier years the company made a loan to another company which is under common control. The amount outstanding at 31 December 2024 was £23,990. The loan is interest free and shown on an aggregated basis.
10 Other information
Plymouth Dermatology Limited is a private company limited by shares and incorporated in England. Its registered office is:
c/o Lowe Henwood Limited
149 Mannamead Road
Plymouth
PL3 5NU
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