Penn Laser Clinic Limited - Period Ending 2019-07-31
Penn Laser Clinic Limited - Period Ending 2019-07-31
Registration number:
Penn Laser Clinic Limited
trading as
for the Year Ended 31 July 2019
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Company Information
Director |
A M Tranter |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
for the Year Ended 31 July 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Penn Laser Clinic Limited for the year ended 31 July 2019 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the Board of Directors of Penn Laser Clinic Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Penn Laser Clinic Limited and state those matters that we have agreed to state to the Board of Directors of Penn Laser Clinic Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penn Laser Clinic Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Penn Laser Clinic Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Penn Laser Clinic Limited. You consider that Penn Laser Clinic Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Penn Laser Clinic Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Millennium Way
Pride Park
Derby
DE24 8HG
Page 2 |
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
(Registration number: 07301517)
Balance Sheet as at 31 July 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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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 liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
Page 3 |
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
(Registration number: 07301517)
Balance Sheet as at 31 July 2019
For the financial year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
A M Tranter
Director
Page 4 |
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Notes to the Financial Statements for the Year Ended 31 July 2019
General information |
The company is a private company limited by share capital incorporated in England.
The address of the registered office is given in the company information on page 1 of the financial statements.
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements are presented in Sterling (£) and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the director not requiring the withdrawal of her monies owed to her until sufficient funds are available.
If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.
Tax
The tax expense for the period comprises deferred 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.
Page 5 |
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Notes to the Financial Statements for the Year Ended 31 July 2019
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.
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:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% Straight line basis |
Fixtures and fittings |
15% Straight line basis |
Office equipment |
33.33% Straight line basis |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 6 |
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Notes to the Financial Statements for the Year Ended 31 July 2019
Tangible assets |
Fixtures, fittings and office equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 August 2018 |
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At 31 July 2019 |
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Depreciation |
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At 1 August 2018 |
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Charge for the year |
- |
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At 31 July 2019 |
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Carrying amount |
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At 31 July 2019 |
- |
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At 31 July 2018 |
- |
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Debtors |
2019 |
2018 |
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Other debtors |
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Page 7 |
Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Notes to the Financial Statements for the Year Ended 31 July 2019
Creditors |
Note |
2019 |
2018 |
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Due within one year |
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Trade creditors |
- |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Related party transactions |
Summary of transactions with other related parties
At the balance sheet date amounts owed to the directors amounted to £15,492 (2018 - £14,532).
Page 8 |