Vetscan Ltd - Accounts to registrar (filleted) - small 18.2
Vetscan Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2018 |
| for |
| Vetscan Ltd |
| Vetscan Ltd (Registered number: 05242038) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Vetscan Ltd |
| Company Information |
| for the Year Ended 31 December 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: | Buckley Kiely & Co |
| Chartered Accountants |
| Heritage Business Park |
| Bessboro Road |
| Cork |
| Ireland |
| Vetscan Ltd (Registered number: 05242038) |
| Balance Sheet |
| 31 December 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand | 7 |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| Vetscan Ltd (Registered number: 05242038) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| Vetscan Ltd is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Vetscan Ltd (Registered number: 05242038) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Tangible fixed assets acquired under finance leases and hire purchase contracts in which substantially all of the |
| risks and rewards of ownership are transferred by the lessor are capitalised at the commencement of the |
| agreement at the lower of the fair value of the leased property and the present value of the minimum payments |
| and are depreciated over the shorter of the agreement term and their useful lives. The capital element of the |
| obligation is recorded as a liability and the interest element is charged to the Profit and Loss account on an |
| annuity basis. |
| Each payment is apportioned between the liability and finance charges using the effective interest method. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Cash flow statement |
| The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a cash flow |
| statement because it is classified as a small company. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Rebranding | Website | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| and 31 December 2018 |
| AMORTISATION |
| At 1 January 2018 |
| Amortisation for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| Vetscan Ltd (Registered number: 05242038) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | and |
| leasehold | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Corporation tax repayable |
| Directors' loan accounts | 1,715 | - |
| Prepayments |
| Trade and other debtors are recognised initially at transaction price (including transaction costs) unless a |
| financing arrangement exists in which case they are measured at the present value of the future receipts |
| discounted at a market rate. Subsequently these are measured at amortised cost less any provision for |
| impairment. A provision for impairment of trade debtors is established when there is objective evidence that the |
| company will not be able to collect all amounts due according to the original terms of receivables. The amount of |
| the provision is the difference between the asset's carrying amount and the present value of estimated future |
| cash flows, discounted at the effective interest rate. All movements in the level of the provision required are |
| recognised in profit and loss. |
| 7. | CASH AT BANK AND IN HAND |
| 2018 | 2017 |
| £ | £ |
| Bank account no. 1 | 23,117 | 60,986 |
| Cash in hand |
| Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short |
| term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance |
| sheet bank overdrafts are shown within creditors. |
| Vetscan Ltd (Registered number: 05242038) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Social security and other taxes |
| Visa card |
| Other creditors |
| Accrued expenses |
| Trade and other creditors are classified as current liabilities if payment is due within one year or less. If not, they |
| are presented as non current liabilities. Trade creditors are recognised originally at the transaction price and |
| subsequently measured at amortised cost using the effective interest method. |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts |
| Other long term loans |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary shares of £1 each | 1 | 100 | 100 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2018 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 December 2018 | ( |
) |
| 12. | RELATED PARTY DISCLOSURES |
| There were no related party transactions to disclose during the year. |
| 13. | POST BALANCE SHEET EVENTS |
| No matters or circumstances have arisen since the end of the financial period which significantly affected or may |
| significantly affect the operations of the company, the results of those operations or the state of affairs of the |
| company in financial years subsequent to the financial period ended 31 December 2018. |
| 14. | FINANCIAL COMMITMENTS |
| At the 31 December 2018 the company had the following financial commitments: |
| 2018 | 2017 |
| Due: | £ | £ |
| Within one year | 150,307 | 144,898 |
| Between one and five years | 46,679 | 196,535 |
| Total | 196,986 | 341,433 |