Registration number:
Cosmetic Medical Advice UK Limited
for the Year Ended 31 March 2022
Cosmetic Medical Advice UK Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Cosmetic Medical Advice UK Limited
Company Information
Director |
Dr Marguerita Roma Rakus |
Registered office |
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Accountants |
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Cosmetic Medical Advice UK Limited
(Registration number: 03858190)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
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Current assets |
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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 assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Retained earnings |
364,858 |
368,793 |
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Shareholders' funds |
365,858 |
369,793 |
For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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
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Cosmetic Medical Advice UK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
General information |
The Company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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 have been prepared and presented in UK Pound Sterling (£) which is the functional currency of the Company. The financial statements have been rounded to the nearest whole £.
Going concern
The financial statements have been prepared on a going concern basis.
The Director has assessed the Company's ability to continue as a going concern for the foreseeable future, being 12 months from the signing of the financial statements and has concluded that the Company has sufficient financial support available from its fellow subsidiaries to meet its obligations and is therefore able to continue as a going concern.
Judgements
No significant judgements have been made by management in the preparation of these financial statements. |
Finance income and costs policy
Finance income is recognised in the Profit or Loss account using the effective interest method.
Finance costs are charged to the Profit or Loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Cosmetic Medical Advice UK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Tax
The tax expense for the period comprises 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the Company (including the Director) during the year, was
Debtors |
Note |
2022 |
2021 |
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Amounts owed by Group undertakings and other related parties |
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Other debtors |
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Cosmetic Medical Advice UK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Trade creditors |
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- |
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Accruals and deferred income |
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Taxation and social security |
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Amounts owed to Group undertakings and other related parties |
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Other creditors |
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Tax charge
In the prior year, the Company recognised a tax charge of £1,622,210 to increase the corporation tax liability in accordance with a settlement agreement with HMRC for tax liabilities owed by the Group. The liability was apportioned between the Company and fellow subsidiary, CMA Lasers Limited, based on each companies' retained earnings and historic taxable profits.
Cosmetic Medical Advice UK Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Related party transactions |
Transactions with the Director |
2022 |
At 1 April 2021 |
Advances to Director |
At 31 March 2022 |
Director's loan account |
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2021 |
At 1 April 2020 |
Advances to Director |
At 31 March 2021 |
Director's loan account |
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Interest is charged at a rate of 2.25% on balances that exceed £10,000 per director up to 5 April 2021 and a rate of 2.00% from 6 April 2021.
Summary of transactions with parent
As at 31 March 2022, the Company owed £383,001 (2021 - £383,001) to its parent company. The parent company heads a Group which qualifies as small. The loan is repayable on demand.
Summary of transactions with entities under common control
As at 31 March 2022, the Company was owed £2,844,610 (2021 - £2,848,160) from a fellow subsidiary company. The loan is repayable on demand.
Summary of transactions with other related parties
As at 31 March 2022, the Company owed £93,348 (2021 - £93,348) to a company which is wholly owned by the same shareholders as the Company. The loan is repayable on demand.