EXETER ANALYTICAL (UK) LIMITED 31/12/2018 iXBRL
EXETER ANALYTICAL (UK) LIMITED 31/12/2018 iXBRL
Statement of consent to prepare abridged financial statements
Company registration number:
02964988
Unaudited filleted abridged financial statements
The Westbury Partnership LLP
Chartered Certified Accountants
98 Westbury Lane
Buckhurst Hill
Essex IG9 5PW
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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(Appointed 23rd August 2018) | ||
Secretary |
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Company number |
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Registered office |
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Accountants |
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98 Westbury Lane | |||
Buckhurst Hill | |||
Essex | |||
IG9 5PW | |||
Bankers |
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PO Box 137 | ||
9 The Town | ||
Enfield | ||
Middlesex EN2 6LH | ||
Report to the board of directors on the preparation of the
unaudited statutory financial statements of EXETER ANALYTICAL (UK) LIMITED
Year ended 31st December 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EXETER ANALYTICAL (UK) LIMITED for the year ended 31st December 2018 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of EXETER ANALYTICAL (UK) LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of EXETER ANALYTICAL (UK) LIMITED and state those matters that we have agreed to state to the board of directors of EXETER ANALYTICAL (UK) LIMITED as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EXETER ANALYTICAL (UK) LIMITED and its board of directors as a body for our work or for this report.
It is your duty to ensure that EXETER ANALYTICAL (UK) LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of EXETER ANALYTICAL (UK) LIMITED. You consider that EXETER ANALYTICAL (UK) LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of EXETER ANALYTICAL (UK) LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Certified Accountants
98 Westbury Lane
Buckhurst Hill
Essex
IG9 5PW
Abridged statement of financial position
31st December 2018
2018 | 2017 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 July 2019
, and are signed on behalf of the board by:
Director
Company registration number:
02964988
Notes to the financial statements
Year ended 31st December 2018
1.
General information
The company is a private company limited by shares, registered in . The address of the registered office is 98 Westbury Lane, Buckhurst Hill, Essex, IG9 5PW.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment | - |
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Motor vehicles | - |
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Office Equipment | - |
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straight line | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Provisions
Financial instruments
Defined contribution plans
4.
Operating profit/loss
Operating profit/loss is stated after charging/(crediting):
2018 | 2017 | ||||
£ | £ | ||||
Depreciation of tangible assets |
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(Gain)/loss on disposal of tangible assets |
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Cost of stocks recognised as an expense |
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Foreign exchange differences |
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5.
Tangible assets
£ | ||
Cost | ||
At 1st January 2018 |
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Additions | 823 | |
Disposals |
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At 31st December 2018 |
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Depreciation | ||
At 1st January 2018 |
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Charge for the year |
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Disposals |
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At 31st December 2018 |
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Carrying amount | ||
At 31st December 2018 |
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At 31st December 2017 | 36,009 | |
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6.
Stocks
2018 | 2017 | |||
£ | £ | |||
Finished goods |
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7.
Debtors
2018 | 2017 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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8.
Creditors: amounts falling due within one year
2018 | 2017 | |||
£ | £ | |||
Trade creditors |
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Social security and other taxes |
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Other creditors |
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471,017 | 590,567 | |||
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9.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2018 | 2017 | |||
£ | £ | |||
Included in provisions (note ) |
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The deferred tax account consists of the tax effect of timing differences in respect of:
2018 | 2017 | |||
£ | £ | |||
10.
Controlling party
The company is controlled by
Dr. Paul Brockman
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11.
Ultimate parent undertaking
The company is 100% owned by Exeter Analytical Inc., a company incorporated in the USA.