Company No: SC435912 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	145,509		156,325
Investment property	5	114,386		0
		259,895		156,325
Current assets
Stocks	6	222,414		5,067
Debtors	7	40,471		225,039
Cash at bank and in hand	8	59,754		30,860
		322,639		260,966
Creditors: amounts falling due within one year	9	( 406,861)		( 276,491)
Net current liabilities		(84,222)		(15,525)
Total assets less current liabilities		175,673		140,800
Creditors: amounts falling due after more than one year	10	( 175,333)		( 173,612)
Provision for liabilities	11, 12	( 6,943)		0
Net liabilities		( 6,603)		( 32,812)
Capital and reserves
Called-up share capital	13	1		1
Profit and loss account		( 6,604 )		( 32,813 )
Total shareholder's deficit		( 6,603)		( 32,812)

For the financial year ending 30 November 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Julia Hart Skin Clinic Limited (registered number: SC435912) were approved and authorised for issue by the Director on 31 August 2026. They were signed on its behalf by:

Julia Hart Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Julia Hart Skin Clinic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 23 - 25 Chapel Street, Dunfermline, KY12 7AW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £6,603. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

Prior period adjustments have been recognised in the comparative period ended 30 November 2024. Information in relation to the correction and restatement of opening balances of assets and equity are included at note 2.

Turnover

Turnover represents amounts receivable for medical processes, sale of beauty products and treatments for skin conditions.

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery etc.	25 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 assets
Basic financial assets, which include debtors, cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Prior year adjustment

Prior period adjustments have been recognised in the comparative period ending 30 November 2024 to account for VAT payable to HMRC for the period covering 01 March 2022 to 30 November 2024 following a review of the activities undertaken by the company and subsequent VAT registration and to remove the corporation tax and deferred tax provisions.

		As previously reported		Adjustment		As restated
Year ended 30 November 2024		£		£		£
Tangible Assets		166,640		(10,315)		156,325
Creditors: amounts falling due within one year		(110,953)		(165,538)		(276,491)
Provision for liabilities		(28,318)		28,318		0
Profit and loss account		(114,722)		147,535		32,813

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		8

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 December 2024	0		366,057		366,057
Additions	31,779		3,050		34,829
Disposals	0		( 18,942)		( 18,942)
At 30 November 2025	31,779		350,165		381,944
Accumulated depreciation
At 01 December 2024	0		209,732		209,732
Charge for the financial year	239		40,013		40,252
Disposals	0		( 13,549)		( 13,549)
At 30 November 2025	239		236,196		236,435
Net book value
At 30 November 2025	31,540		113,969		145,509
At 30 November 2024	0		156,325		156,325

5. Investment property

	Investment property
	£
Valuation
As at 01 December 2024	0
Additions	114,386
As at 30 November 2025	114,386

Investment property represents the purchase price, professional fees and improvements incurred for investment property in this period. The director believes that this value accurately reflects the fair value of the property at the balance sheet date.

6. Stocks

	2025		2024
	£		£
Stocks	222,414		5,067

7. Debtors

	2025		2024
	£		£
Trade debtors	9,641		5,441
Corporation tax	15,632		1,512
Other debtors	15,198		218,086
	40,471		225,039

8. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	59,754		30,860

9. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	68,162		45,114
Trade creditors	27,500		18,803
Other taxation and social security	255,229		184,839
Obligations under finance leases and hire purchase contracts	8,810		7,453
Other creditors	47,160		20,282
	406,861		276,491

Included within Bank loans are amounts advanced to the company under the Bounce Back Loan Scheme of £6,311 (2024 - £10,350), This loan is fully backed by a government guarantee.

Also Included within bank loans are amounts advanced to the company of £61,851 (2024 - £34,764) which are backed by personal guarantee by the director.

Obligations under finance leases and hire purchase contracts are secured over the related assets.

10. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	140,104		129,573
Obligations under finance leases and hire purchase contracts	35,229		44,039
	175,333		173,612

Included within Bank loans are amounts advanced to the company under the Bounce Back Loan Scheme of £0 (2024 - £6,311), This loan is fully backed by a government guarantee.

Also Included within bank loans are amounts advanced to the company of £140,104 (2024 - £123,262) which are backed by personal guarantee by the director.

Obligations under finance leases and hire purchase contracts are secured over the related assets.

11. Provision for liabilities

	2025		2024
	£		£
Deferred tax	6,943		0

12. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	0		( 37,871)
(Charged)/credited to the Statement of Income and Retained Earnings	( 6,943)		37,871
At the end of financial year	( 6,943)		0

13. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

14. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating leases	16,822		45,991

15. Related party transactions

Transactions with the entity’s director (or members of its governing body)

Amounts owed by director

	2025		2024
	£		£
Director's Loan Account	0		213,932

Amounts owed to director

	2025		2024
	£		£
Director's Loan Account	23,147		0

Advances totalling £7,126 were made to the director in this period and £248,865 was repaid. Interest of £4,660 was charged on these advances at a rate of 2.25% and 3.75%. This loan is unsecured and has no fixed terms of repayment.