The Mole Clinic Ltd Filleted accounts for Companies House (small and micro)

THE MOLE CLINIC LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04903102

The Mole Clinic Ltd

Filleted Unaudited Financial Statements

31 December 2019

The Mole Clinic Ltd

Financial Statements

Year ended 31 December 2019

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

The Mole Clinic Ltd

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of The Mole Clinic Ltd

Year ended 31 December 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Mole Clinic Ltd for the year ended 31 December 2019, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of The Mole Clinic Ltd, as a body, in accordance with the terms of our engagement letter dated 3 December 2013. Our work has been undertaken solely to prepare for your approval the financial statements of The Mole Clinic Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Mole Clinic Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Mole Clinic Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Mole Clinic Ltd. You consider that The Mole Clinic Ltd 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 financial statements of The Mole Clinic Ltd. 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 financial statements.

THE COOK PARTNERSHIP Chartered accountants

Unit 7 The Forum Icknield Way Tring Hertfordshire HP23 4JY

21 July 2020

The Mole Clinic Ltd

Statement of Financial Position

31 December 2019

	2019		2018
Note	£	£	£

Fixed assets

Intangible assets	5	1	1
Tangible assets	6	425,509	152,877
		---------	---------
		425,510	152,878

Current assets

Debtors	7	257,553	159,611
Cash at bank and in hand		729,862	561,169
		---------	---------
		987,415	720,780

Creditors: amounts falling due within one year	8	213,014		188,344
		---------		---------
Net current assets			774,401	532,436
			------------	---------
Total assets less current liabilities			1,199,911	685,314

Provisions	58,542	17,270
	------------	---------
Net assets	1,141,369	668,044
	------------	---------

The Mole Clinic Ltd

Statement of Financial Position (continued)

31 December 2019

	2019		2018
Note	£	£	£

Capital and reserves

Called up share capital	1,212	1,212
Share premium account	294,738	294,738
Profit and loss account	845,419	372,094
	------------	---------
Shareholders funds	1,141,369	668,044
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 July 2020 , and are signed on behalf of the board by:

Mr I D Mack

Director

Company registration number: 04903102

The Mole Clinic Ltd

Notes to the Financial Statements

Year ended 31 December 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46 Harley Street, London, W1G 9PT, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell that asset. deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Trademarks	-	33% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	Straight line over 10 years
Fixtures & Fittings	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2018: 17 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 January 2019 and 31 December 2019	15,699
	--------
Amortisation
At 1 January 2019 and 31 December 2019	15,698
	--------
Carrying amount
At 31 December 2019	1
	--------
At 31 December 2018	1
	--------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2019	149,189	19,154	102,832	271,175
Additions	253,417	11,296	63,769	328,482
Disposals	–	–	( 4,181)	( 4,181)
	---------	--------	---------	---------
At 31 December 2019	402,606	30,450	162,420	595,476
	---------	--------	---------	---------
Depreciation
At 1 January 2019	36,214	11,800	70,284	118,298
Charge for the year	21,479	5,003	25,929	52,411
Disposals	–	–	( 742)	( 742)
	---------	--------	---------	---------
At 31 December 2019	57,693	16,803	95,471	169,967
	---------	--------	---------	---------
Carrying amount
At 31 December 2019	344,913	13,647	66,949	425,509
	---------	--------	---------	---------
At 31 December 2018	112,975	7,354	32,548	152,877
	---------	--------	---------	---------

7. Debtors

	2019	2018
	£	£
Trade debtors	103,862	68,233
Other debtors	153,691	91,378
	---------	---------
	257,553	159,611
	---------	---------

8. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	75,318	75,866
Corporation tax	88,131	76,523
Social security and other taxes	31,331	26,093
Pension	7,438	1,602
Other creditors	10,796	8,260
	---------	---------
	213,014	188,344
	---------	---------

9. Controlling party

The company was under the control of Iain Mack, a director.