Skinbrands Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Pavillion, Josselin Road, Basildon, Essex, UK, SS13 1QB.
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 £.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;
Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’ – Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Adonia Medical Group Limited. These consolidated financial statements are available from its registered office, The Pavilion, Josselin Road, Basildon, Essex,United Kingdom, SS13 1QB.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The Company is part of the Hebe Holdings Group (the “Group”). The Company and Adonia Medical 'sub Group' have lent the wider Group £14.80m (2021: £6.51m) as at the balance sheet date. The directors consider that the Company can continue to trade and has sufficient resources to meet its commitments if loans to the Group are not repaid for the foreseeable future. On this basis the financial statements of the Company have been prepared on the going concern basis.
The directors' are of the opinion that if the loan is delayed significantly in repayment this will not impact on the Company's ability to continue in operational existence.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
The average monthly number of persons (including directors) employed by the company during the year was:
Amounts owed to group undertakings are interest free and repayable on demand.
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The Company has taken advantage of the exemption available in FRS 102 S33.1A, whereby it has not disclose transactions with wholly owned owned group companies of Adonia Medical Group Limited.
The company is 100% owned by Adonia Medical Group Limited which is the immediate parent company. Adonia Medical Group Limited is a company incorporated in England and Wales. The registered office is The Pavillion, Josselin Road, Basildon, Essex, United Kingdown, SS13 1QB.
The ultimate controlling party is Hebe Topco Limited. The consolidated accounts of Adonia Medical Group, Hebe Topco are available at the registered office 2 Bromwich Court, 1st Floor Gorsey lane, Coleshill, Birmingham, England, B46 1JU.