Penn Laser Clinic Limited - Period Ending 2014-07-31

Registration number: 07301517

Penn Laser Clinic Limited

trading as Soft Light Laser Clinic

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
(Registration number: 07301517)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			3,550			6,254
Current assets
Debtors					2,440			2,965
Cash at bank and in hand					4,402			8,181
					6,842			11,146
Creditors: Amounts falling due within one year					(16,508)			(18,180)
Net current liabilities					(9,666)			(7,034)
Net liabilities					(6,116)			(780)
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					(6,117)			(781)
Shareholders' deficit					(6,116)			(780)

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have 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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 7 November 2014

.........................................
A M Tranter
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

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 their monies owed to them 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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% straight line basis
Fixtures and fittings	15% reducing balance basis
Office Equipment	20% reducing balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Penn Laser Clinic Limited
trading as Soft Light Laser Clinic
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2013		15,063			15,063
Additions		289			289
At 31 July 2014		15,352			15,352
Depreciation
At 1 August 2013		8,809			8,809
Charge for the year		2,993			2,993
At 31 July 2014		11,802			11,802
Net book value
At 31 July 2014		3,550			3,550
At 31 July 2013		6,254			6,254

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 3