London Centre for Aesthetic Surgery Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04553682 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

London Centre for Aesthetic

Surgery Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Dr R Viel

REGISTERED OFFICE:

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

REGISTERED NUMBER:

04553682 (England and Wales)

ACCOUNTANTS:

Lawrence Grant

Chartered Accountants

and Reporting Accountants

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

FIXED ASSETS

Intangible assets

4

270,000

315,000

Tangible assets

5

10,844

13,911

280,844

328,911

CURRENT ASSETS

Stocks

6,500

6,500

Debtors

6

21,885

12,428

Cash at bank

-

959

28,385

19,887

CREDITORS

Amounts falling due within one year

7

133,421

119,204

NET CURRENT LIABILITIES

(105,036

)

(99,317

)

TOTAL ASSETS LESS CURRENT LIABILITIES

175,808

229,594

CREDITORS

Amounts falling due after more than one year

8

(165,429

)

(175,531

)

PROVISIONS FOR LIABILITIES

(478

)

(751

)

NET ASSETS

9,901

53,312

CAPITAL AND RESERVES

Called up share capital

2

2

Capital contribution reserve

8,271

8,777

Retained earnings

1,628

44,533

SHAREHOLDERS' FUNDS

9,901

53,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 11 August 2017 and were signed by:

Dr R Viel - Director

1.	STATUTORY INFORMATION

London Centre for Aesthetic Surgery 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparation of financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS 102 1A.

Turnover

Turnover is measured at the fair value of consideration received or receivable from the sale of goods and

services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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

-

25% reducing balance

Fixtures and fittings

-

20% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Going concern

The financial statements have been prepared on a going concern basis which is dependent upon the company's

creditors continuing to provide the necessary facilities to enable the company to continue in operation for the

foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

900,000

AMORTISATION

At 1 May 2016

585,000

Amortisation for year

45,000

At 30 April 2017

630,000

NET BOOK VALUE

At 30 April 2017

270,000

At 30 April 2016

315,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 May 2016

and 30 April 2017

6,048

101,038

88,501

195,587

DEPRECIATION

At 1 May 2016

6,048

95,348

80,280

181,676

Charge for year

-

1,423

1,644

3,067

At 30 April 2017

6,048

96,771

81,924

184,743

NET BOOK VALUE

At 30 April 2017

-

4,267

6,577

10,844

At 30 April 2016

-

5,690

8,221

13,911

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,893

4,490

Other debtors

14,992

7,938

21,885

12,428

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

14,951

-

Trade creditors

52,718

52,710

Taxation and social security

1,443

832

Other creditors

64,309

65,662

133,421

119,204

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

165,429

175,531

9.	PENSION COMMITMENTS

The company contributes to defined contribution schemes on behalf of its director and its employees. The assets

of the schemes are held separately from those of the company in independently administered funds. The pension

costs charged for the year were £208 (2016: £Nil) and there were £77 (2016: £Nil) of outstanding contributions

payable at 30 April 2017.

10.	RELATED PARTY DISCLOSURES

At the balance sheet date, the director Dr R Viel had a credit balance of £20,811 (2016: £14,347) on his current

account. This was an interest free loan to the company and is included in other creditors within one year.

The bank loan included in creditors is secured by personal guarantee of the director, Dr R Viel.

Also included within other creditors is a loan of £165,429 (2016: £175,531) given from London Centre for

Aesthetic Surgery Gulf FZ-LLC, a company in which Dr M Viel is a director.

11.	ULTIMATE CONTROLLING PARTY

The director Dr R Viel and his brother Dr M Viel are deemed to be the ultimate controlling parties by virtue of

their 50% shareholding each in the company.