Hove Skin Clinic Limited - Accounts to registrar (filleted) - small 18.2

Hove Skin Clinic Limited - Accounts to registrar (filleted) - small 18.2

HOVE SKIN CLINIC LIMITED - Company Information

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REGISTERED NUMBER: 07208565 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

HOVE SKIN CLINIC LIMITED
HOVE SKIN CLINIC LIMITED (REGISTERED NUMBER: 07208565)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOVE SKIN CLINIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







DIRECTOR: S Cliff-Patel





REGISTERED OFFICE: Suite B
King Business Centre
Reeds Lane
Sayers Common
West Sussex
BN6 9LS





REGISTERED NUMBER: 07208565 (England and Wales)





ACCOUNTANTS: Sykes Dalby & Truelove Limited
Chartered Accountants
Suite B
King Business Centre
Reeds Lane
Sayers Common
West Sussex
BN6 9LS
Page 1
HOVE SKIN CLINIC LIMITED (REGISTERED NUMBER: 07208565)

BALANCE SHEET
31 MARCH 2019

31.3.19 31.3.18
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 373,333 693,333
Tangible assets 4 25,446 33,928
398,779 727,261

CURRENT ASSETS
Stocks 3,200 3,000
Debtors 5 525,554 305,982
Cash at bank 294,668 996,039
823,422 1,305,021
CREDITORS
Amounts falling due within one year 6 508,403 771,536
NET CURRENT ASSETS 315,019 533,485
TOTAL ASSETS LESS CURRENT
LIABILITIES
713,798
1,260,746

PROVISIONS FOR LIABILITIES 1,750 2,970
NET ASSETS 712,048 1,257,776

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 711,948 1,257,676
SHAREHOLDERS' FUNDS 712,048 1,257,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
HOVE SKIN CLINIC LIMITED (REGISTERED NUMBER: 07208565)

BALANCE SHEET - continued
31 MARCH 2019


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 director on 28 December 2019 and were signed by:





S Cliff-Patel - Director


The notes form part of these financial statements

Page 3
HOVE SKIN CLINIC LIMITED (REGISTERED NUMBER: 07208565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

1. STATUTORY INFORMATION

Hove Skin Clinic 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 ten 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.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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.

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.

Page 4 continued...
HOVE SKIN CLINIC LIMITED (REGISTERED NUMBER: 07208565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2018
and 31 March 2019 3,200,000
AMORTISATION
At 1 April 2018 2,506,667
Amortisation for year 320,000
At 31 March 2019 2,826,667
NET BOOK VALUE
At 31 March 2019 373,333
At 31 March 2018 693,333

The directors, having regard to the requirements of FRS102, have considered the current policy regarding
amortisation of goodwill. They consider that the current policy will result in purchased goodwill being written
off within seven years and therefore no change is necessary.

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2018
and 31 March 2019 253,039
DEPRECIATION
At 1 April 2018 219,111
Charge for year 8,482
At 31 March 2019 227,593
NET BOOK VALUE
At 31 March 2019 25,446
At 31 March 2018 33,928

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.19 31.3.18
£    £   
Trade debtors 221,816 194,374
Amounts owed by associates 297,458 106,722
Other debtors 6,280 4,886
525,554 305,982

Page 5 continued...
HOVE SKIN CLINIC LIMITED (REGISTERED NUMBER: 07208565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.19 31.3.18
£    £   
Trade creditors (1 ) -
Amounts owed to associates 47,856 -
Tax 102,088 -
Other creditors 379 336
Accrued expenses 358,081 771,200
508,403 771,536

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.19 31.3.18
value: £    £   
100 Ordinary Shares £1 100 100

8. ULTIMATE CONTROLLING PARTY

The controlling party is Medical Clinics Limited.

The ultimate controlling party is S Morris.

Page 6