Company registration number 06597245 (England and Wales)
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2022
PAGES FOR FILING WITH REGISTRAR
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
645
806
Current assets
Debtors
4
1,264
1,264
Cash at bank and in hand
168,242
141,691
169,506
142,955
Creditors: amounts falling due within one year
5
(37,372)
(29,895)
Net current assets
132,134
113,060
Total assets less current liabilities
132,779
113,866
Provisions for liabilities
(122)
(153)
Net assets
132,657
113,713
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
132,656
113,712
Total equity
132,657
113,713
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 February 2023
Dr M Strick
Director
Company Registration No. 06597245
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2022
- 3 -
1
Accounting policies
Company information
Caer Cosmetic, Aesthetic and Reconstructive Plastic Surgery Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 597 Stretford Road, Old Trafford, Manchester, United Kingdom, M16 9BX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30 May 2022 are the first financial statements of Caer Cosmetic, Aesthetic and Reconstructive Plastic Surgery Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 31 May 2020. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 9.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
20% reducing balance
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2022
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2022
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 May 2021 and 30 May 2022
3,378
Depreciation and impairment
At 31 May 2021
2,572
Depreciation charged in the year
161
At 30 May 2022
2,733
Carrying amount
At 30 May 2022
645
At 30 May 2021
806
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
1,265
1,265
5
Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
4,943
3,242
Other creditors
32,429
26,653
37,372
29,895
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Oridnary shares of £1 each
1
1
1
1
7
Directors' transactions
Included in creditors at the year end is a balance of £30,779 (2021: 23,526) owed to the director. This loan is interest free and has no terms of repayment.
CAER COSMETIC, AESTHETIC AND RECONSTRUCTIVE PLASTIC SURGERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MAY 2022
- 6 -
8
Parent company
The company is ultimately controlled by M Strick who owns 100% of the issued share capital.
9
Reconciliations on adoption of FRS 102
Reconciliation of equity
31 May
30 May
2020
2021
Notes
£
£
Equity as reported under previous FRS 105
121,462
113,866
Adjustments arising from transition to FRS 102:
Deferred tax
(i)
-
(153)
Equity reported under FRS 102
121,462
113,713
Notes to reconciliations on adoption of FRS 102
Deferred Tax
Caer Cosmetic, Aesthetic and Reconstructive Plastic Surgery was not previously required to recognise deferred tax on the balance sheet or profit and loss account as the accounts were prepared in accordance with FRS 105. As the company has now transitioned to FRS 102 and deferred tax is a requirement of FRS102, prior year balances have been restated to recognise a deferred tax liability of £153, in accordance with the standard. Consequently, equity for the year ended 31 May 2021 has also been restated in order to recognise the effect of the deferred tax charge on the profit or loss.