Medico Beauty Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03779950 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 31 March 2020

for

Medico Beauty Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A C Campion-Awwad

Miss A E Campion-Awwad

REGISTERED OFFICE:

5 Luke Street

London

EC2A 4PX

REGISTERED NUMBER:

03779950 (England and Wales)

ACCOUNTANTS:

Litchfields

5 Luke Street

London

EC2A 4PX

FIXED ASSETS

Intangible assets

4

2,175

2,175

Tangible assets

5

-

1,338

2,175

3,513

CURRENT ASSETS

Stocks

71,635

82,853

Debtors

49,491

61,163

Cash at bank

41,648

31,889

162,774

175,905

CREDITORS

Amounts falling due within one year

158,984

145,430

NET CURRENT ASSETS

3,790

30,475

TOTAL ASSETS LESS CURRENT LIABILITIES

5,965

33,988

PROVISIONS FOR LIABILITIES

-

254

NET ASSETS

5,965

33,734

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,865

33,634

SHAREHOLDERS' FUNDS

5,965

33,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2020 and were signed on its behalf by:

Miss A E Campion-Awwad - Director

1.	STATUTORY INFORMATION

Medico Beauty 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website development

-

33.3% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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 Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

and 31 March 2020

2,175

NET BOOK VALUE

At 31 March 2020

2,175

At 31 March 2019

2,175

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

160,957

Disposals

(24,435

)

At 31 March 2020

136,522

DEPRECIATION

At 1 April 2019

159,619

Charge for year

1,338

Eliminated on disposal

(24,435

)

At 31 March 2020

136,522

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

1,338

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

Miss A E Campion-Awwad

Balance outstanding at start of year

-

-

Amounts advanced

1,337

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,337

-