Dermatology Network Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05972923 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

DERMATOLOGY NETWORK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr. H P Stevens

Mrs D Stevens

SECRETARY:

Dr. H P Stevens

REGISTERED OFFICE:

Dermatology Network Limited

52 The Chase

Clapham Old Town

SW4 0NH

REGISTERED NUMBER:

05972923 (England and Wales)

ACCOUNTANTS:

Sandison Lang Limited

2 St Marys Road

Tonbridge

Kent

TN9 2LB

FIXED ASSETS

Intangible assets

4

300,000

360,000

Tangible assets

5

111,062

131,922

Investments

6

745,200

1,156,262

1,237,122

CURRENT ASSETS

Debtors

7

664,903

708,537

Cash at bank and in hand

46,950

30,904

711,853

739,441

CREDITORS

Amounts falling due within one year

8

(588,145

)

(476,715

)

NET CURRENT ASSETS

123,708

262,726

TOTAL ASSETS LESS CURRENT

LIABILITIES

1,279,970

1,499,848

CREDITORS

Amounts falling due after more than

one year

9

(106,998

)

-

NET ASSETS

1,172,972

1,499,848

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

1,171,972

1,498,848

SHAREHOLDERS' FUNDS

1,172,972

1,499,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 25 October 2025 and were signed on its behalf by:

Dr. H P Stevens - Director

1.	STATUTORY INFORMATION

Dermatology Network 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

25% on reducing balance

Furniture & fittings

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

1,200,000

AMORTISATION

At 1 April 2024

840,000

Charge for year

60,000

At 31 March 2025

900,000

NET BOOK VALUE

At 31 March 2025

300,000

At 31 March 2024

360,000

5.	TANGIBLE FIXED ASSETS

Freehold

Office

Furniture &

Motor

property

equipment

fittings

vehicles

Totals

£

COST

At 1 April 2024

and 31 March 2025

52,964

24,353

93,560

38,895

209,772

DEPRECIATION

At 1 April 2024

-

22,893

45,358

9,599

77,850

Charge for year

-

930

12,606

7,324

20,860

At 31 March 2025

-

23,823

57,964

16,923

98,710

NET BOOK VALUE

At 31 March 2025

52,964

530

35,596

21,972

111,062

At 31 March 2024

52,964

1,460

48,202

29,296

131,922

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

745,200

NET BOOK VALUE

At 31 March 2025

745,200

At 31 March 2024

745,200

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

23,242

70,659

Amounts owed by group undertakings

199,898

195,874

Other debtors

441,763

442,004

664,903

708,537

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

35,525

-

Trade creditors

19,884

27,245

Amounts owed to group undertakings

448,000

434,283

Taxation and social security

1,125

6,603

Other creditors

83,611

8,584

588,145

476,715

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

106,998

-

10.	ULTIMATE CONTROLLING PARTY

Dr H Stevens, who is a director, and his family own the entire share capital of Dermatology Network Ltd.