Vasily Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04173569 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2019

for

VASILY ENTERPRISES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Dr V Maslukovs

Dr A Olehnovica

REGISTERED OFFICE:

50 Chigwell Road

South Woodford

London

E18 1LS

REGISTERED NUMBER:

04173569 (England and Wales)

ACCOUNTANTS:

Hive Accountancy Ltd

The Innovation Centre

Treliske

Truro

Cornwall

TR1 3FF

FIXED ASSETS

Intangible assets

4

113,120

121,822

Tangible assets

5

7,361

4,397

120,481

126,219

CURRENT ASSETS

Stocks

3,699

3,481

Debtors

26,716

32,026

Cash at bank

87,715

52,673

118,130

88,180

CREDITORS

Amounts falling due within one year

201,526

206,533

NET CURRENT LIABILITIES

(83,396

)

(118,353

)

TOTAL ASSETS LESS CURRENT LIABILITIES

37,085

7,866

PROVISIONS FOR LIABILITIES

365

-

NET ASSETS

36,720

7,866

CAPITAL AND RESERVES

Called up share capital

6

150

100

Retained earnings

36,570

7,766

SHAREHOLDERS' FUNDS

36,720

7,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 October 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 27 October 2020 and were signed on its behalf by:

Dr V Maslukovs - Director

1.	STATUTORY INFORMATION

Vasily Enterprises 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 represents the total invoice value, excluding value added tax, of sales made during the period.

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

The goodwill broadly reflects the patient list acquired in 2012 which is considered to suffer 5% attrition each year.

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

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

Improvements to property

-

Nil

Fixtures, fittings & equipment

-

20% on cost

Library

-

10% 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2018

and 31 October 2019

174,031

AMORTISATION

At 1 November 2018

52,209

Amortisation for year

8,702

At 31 October 2019

60,911

NET BOOK VALUE

At 31 October 2019

113,120

At 31 October 2018

121,822

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2018

71,696

Additions

4,355

At 31 October 2019

76,051

DEPRECIATION

At 1 November 2018

67,299

Charge for year

1,391

At 31 October 2019

68,690

NET BOOK VALUE

At 31 October 2019

7,361

At 31 October 2018

4,397

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

50

A Ordinary

£1

50

-

150

100

50 A Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

The A Ordinary shares were originally allotted as Ordinary shares on 20 May 2019 and then reclassified on 24 June 2019.

During the year there was a transfer of shares between Dr Vasily Maslukovs and his spouse Dr Alla Olehnovica.

50 A Ordinary shares were transferred from Dr Maslukovs to Dr Olehnovica on 24 June 2019.

7.	RELATED PARTY DISCLOSURES

At the year end, the company is owed £3,544 by Spinedango Limited. Dr V Maslukovs is a director and shareholder of this company.

8.	POST BALANCE SHEET EVENTS

Although there was some temporary disruption of trade following the end of the accounting period due to the COVID-19 pandemic, trade has now resumed and management have determined there are no material uncertainties in relation to going concern. As such, these accounts have been prepared on a going concern basis.