Clearvu Limited - Period Ending 2014-07-31

Registration number: 03636345

Clearvu Limited

trading as Dental Practice Systems

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

Acumist
PO Box 61
KNEBWORTH
Hertfordshire
SG3 6WR

Clearvu Limited
trading as Dental Practice Systems
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Clearvu Limited
trading as Dental Practice Systems
(Registration number: 03636345)
Abbreviated Balance Sheet at 31 July 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					2			2
Tangible fixed assets					3,306			975
					3,308			977
Current assets
Stocks					17,708			17,708
Debtors					68,699			42,373
Cash at bank and in hand					71,717			51,567
					158,124			111,648
Creditors: Amounts falling due within one year					(149,329)			(90,243)
Net current assets					8,795			21,405
Net assets					12,103			22,382
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					12,003			22,282
Shareholders' funds					12,103			22,382

For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 28 April 2015 and signed on its behalf by:

.........................................
BE Jackson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Clearvu Limited
trading as Dental Practice Systems
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

There has been no amortisation of the net goodwill

Asset class	Amortisation method and rate
Goodwill	Nil

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equipment	25% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Clearvu Limited
trading as Dental Practice Systems
Notes to the Abbreviated Accounts for the Year Ended 31 July 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2013		2			13,942			13,944
Additions		-			2,990			2,990
At 31 July 2014		2			16,932			16,934
Depreciation
At 1 August 2013		-			12,967			12,967
Charge for the year		-			659			659
At 31 July 2014		-			13,626			13,626
Net book value
At 31 July 2014		2			3,306			3,308
At 31 July 2013		2			975			977

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3