PERFECT SKIN SOLUTIONS LIMIT - Accounts 2014

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Registered number: 07694096

Perfect Skin Solutions Ltd

ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/03/2014

Prepared By:
Jackson & Green Accountants, Business & Tax Advisers
1st Floor, Hill House
23-25 Spur Road
Cosham
Hampshire
PO6 3DY


Perfect Skin Solutions Ltd

ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31/03/2014
INDEX TO THE ACCOUNTS
Abbreviated Balance Sheet2
Notes to the Abbreviated Accounts3
The company's registered number is 07694096


Perfect Skin Solutions Ltd

Registered Number: 07694096
BALANCE SHEET AT 31/03/2014
20142013
Notes££
FIXED ASSETS
Tangible assets229,468682
CURRENT ASSETS
Stock5901,545
Debtors (amounts falling due within one year)32,15689
Cash at bank and in hand3,2308,397
5,97610,031
CREDITORS: Amounts falling due within one year63,08717,577
NET CURRENT LIABILITIES(57,111)(7,546)
TOTAL ASSETS LESS CURRENT LIABILITIES(27,643)(6,864)
CREDITORS: Amounts falling due after more than one year46,635-
PROVISIONS FOR LIABILITIES7,968136
NET LIABILITIES(42,246)(7,000)
CAPITAL AND RESERVES
Called up share capital6102102
Profit and loss account(42,348)(7,102)
SHAREHOLDERS' FUNDS(42,246)(7,000)
For the year ending 31/03/2014 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 directors acknowledge their 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 board on 18/12/2014 and signed on their behalf by
Mrs N J Patel
Director


Perfect Skin Solutions Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2014
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and are in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Equipmentstraight line 33%
1d. Stocks
Stocks are valued at the lower of cost and and net realisable value, after due regard for obsolete and slow moving stocks.
1e. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.
1f. Turnover
Turnover represents the invoiced value of products and services supplied by the company. The company is not registered for value added tax.


Perfect Skin Solutions Ltd

2. TANGIBLE FIXED ASSETS
Plant and
MachineryEquipmentTotal
£££
Cost
At 01/04/2013-877877
Additions38,771-38,771
At 31/03/201438,77187739,648
Depreciation
At 01/04/2013-195195
For the year9,6932929,985
At 31/03/20149,69348710,180
Net Book Amounts
At 31/03/201429,07839029,468
At 31/03/2013-682682
3. DEBTORS 20142013
££
Amounts falling due within one year:
Other debtors2,15689
2,15689
4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20142013
££
Bank loans and overdrafts6,635-
6,635-


Perfect Skin Solutions Ltd

5. SECURED CREDITORS
20142013
££
Amount of bank loans and overdrafts which are secured12,323-
The bank loan is secured personally by the director.
6. SHARE CAPITAL 20142013
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
1 Class B shares of £1 each11
1 Class C shares of £1 each11
102102
7. GOING CONCERN
The future success of the company is dependent on the continued support of the directors.
8. TRANSACTIONS WITH DIRECTORS
At the year end the company owed the director, Dr D R Patel, a total of £45,262 (2013: £4,296). During the year the company loaned the director £17,034 (2013: £191). The director introduced capital of £58,000 (2013: £1,782) and received allowances of £nil (2013: £200).
At the year end the company owed the director, Mrs N J Patel, a total of £10,413 (2013: £12,197). During the year the company loaned the director £19,284 (2013: £nil). The director introduced capital of £13,000 (2013: £693) and received allowances and a salary of £4,500 (2013: £3,000).
9. CONTROLLING PARTY
The company is controlled equally by the directors, Dr D R Patel and Mrs N J Patel.