Illuminate Skin Clinics Ltd
Illuminate Skin Clinics Ltd
Registered number: 09039008
Abbreviated accounts
For The Year Ended 31 August 2016
Illuminate Skin Clinics Ltd
Company No. 09039008
Abbreviated Balance Sheet
31 August 2016
Abbreviated Balance Sheet
| 31 August 2016 | Period to 31 August 2015 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 2 |
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| Tangible Assets | 3 |
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| 44,906 | 11,128 | ||||
| CURRENT ASSETS | |||||
| Stocks |
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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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( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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| Creditors: Amounts Falling Due After More Than One Year | 4 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS |
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Illuminate Skin Clinics Ltd
Company No. 09039008
Abbreviated Balance Sheet (continued)
31 August 2016
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).
On behalf of the board
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Page 1
Illuminate Skin Clinics Ltd
Notes to the Abbreviated Accounts
For The Year Ended 31 August 2016
Notes to the Abbreviated Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are in relation to the construction of the company website. It is amortised to profit and loss account over its estimated economic life of 3 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Fixtures & Fittings |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Intangible Assets
| Total | ||
|---|---|---|
| Cost | £ | |
| As at |
7,788 | |
| As at |
7,788 | |
| Amortisation | ||
| As at |
2,593 | |
| Provided during the period | 2,596 | |
| As at |
5,189 | |
| Net Book Value | ||
| As at |
2,599 | |
| As at |
5,195 | |
Page 2
Illuminate Skin Clinics Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 August 2016
3.
Tangible Assets
| Total | |
|---|---|
| Cost | £ |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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4.
Creditors: Amounts Falling Due After More Than One Year
| 31 August 2016 | Period to 31 August 2015 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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Page 3
Illuminate Skin Clinics Ltd
Notes to the Abbreviated Accounts (continued)
For The Year Ended 31 August 2016
6.
Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | As at |
|
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Dr Sophie Shottor | (3,228) | 84,565 | 26,138 | 55,199 |
The above loan is unsecured, interest free and repayable on demand.
Page 4