Penn Laser Clinic Limited - Period Ending 2021-08-31

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 8

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

Company Information

Director

A M Tranter

Registered office

The White House 194 Penn Road Wolverhampton West Midlands WV3 0EQ

Bankers

HSBC plc 134 Birches Barn Road Pennfields Wolverhampton WV3 7BG

Accountants

Ashgates Corporate Services Limited 5 Prospect Place Millennium Way Pride Park Derby DE24 8HG

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 Period Ended 31 August 2021

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 period ended 31 August 2021 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 profit of Penn Laser Clinic Limited. You consider that Penn Laser Clinic Limited is exempt from the statutory audit requirement for the period.

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.

.............................................................

Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG

6 December 2021

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

(Registration number: 07301517)
Balance Sheet as at 31 August 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	5	-	481
Current assets
Debtors	6	1,297	1,626
Cash at bank and in hand		11,470	6,285
		12,767	7,911
Creditors: Amounts falling due within one year	7	(12,766)	(21,409)
Net current assets/(liabilities)		1	(13,498)
Net assets/(liabilities)		1	(13,017)
Capital and reserves
Called up share capital	8	1	1
Profit and loss account		-	(13,018)
Total equity		1	(13,017)

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

(Registration number: 07301517)
Balance Sheet as at 31 August 2021

For the financial period ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	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 director on 3 December 2021
 

.........................................

A M Tranter
Director

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

Notes to the Unaudited Financial Statements for the Period from 1 August 2020 to 31 August 2021

1	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.

2	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 decision has been made to cease trading and therefore the financial statements have been prepared on a break up basis.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

Notes to the Unaudited Financial Statements for the Period from 1 August 2020 to 31 August 2021

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

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2020 - 1).

4	Exceptional items

	2021 £	2020 £
Exceptional items	(17,420)	-

 

The above exceptional item of £17,420 (2020 - £nil) is in respect of the write off of a loan balance for monies owed to a director of £17,567 and the write off of a balance owed by HMRC of £147.

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

Notes to the Unaudited Financial Statements for the Period from 1 August 2020 to 31 August 2021

5	Tangible assets

	Fixtures, fittings and office equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 August 2020	1,352	16,400	17,752
Disposals	(1,352)	(16,400)	(17,752)
At 31 August 2021	-	-	-
Depreciation
At 1 August 2020	1,352	15,919	17,271
Charge for the year	-	481	481
Eliminated on disposal	(1,352)	(16,400)	(17,752)
At 31 August 2021	-	-	-
Carrying amount
At 31 August 2021	-	-	-
At 31 July 2020	-	481	481

6

Debtors

	2021 £	2020 £
Other debtors	1,297	1,626
	1,297	1,626

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

Notes to the Unaudited Financial Statements for the Period from 1 August 2020 to 31 August 2021

7

Creditors

	Note	2021 £	2020 £
Due within one year
Other creditors		12,766	21,409

8	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

9	Related party transactions

Summary of transactions with other related parties

Directors of the company

At the balance sheet date amounts owed to the directors amounted to £9,625 (2020 - £19,614).

During the year an amount of £17,567 owing to the directors has been written off.