HMS VILGO UK LTD Company Accounts

HMS VILGO UK LTD Company Accounts

HMS VILGO UK LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09374841
HMS VILGO UK LTD
Filleted Unaudited Financial Statements
31 December 2019
HMS VILGO UK LTD
Financial Statements
Year ended 31 December 2019
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
HMS VILGO UK LTD
Statement of Financial Position
31 December 2019
2019
2018
Note
£
£
Fixed assets
Tangible assets
5
4,959
10,370
Current assets
Debtors
6
2,174
2,672
Cash at bank and in hand
22,210
22,212
--------
--------
24,384
24,884
Creditors: amounts falling due within one year
7
79,899
70,356
--------
--------
Net current liabilities
55,515
45,472
--------
--------
Total assets less current liabilities
( 50,556)
( 35,102)
--------
--------
Net liabilities
( 50,556)
( 35,102)
--------
--------
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss account
( 51,556)
( 36,102)
--------
--------
Shareholders deficit
( 50,556)
( 35,102)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HMS VILGO UK LTD
Statement of Financial Position (continued)
31 December 2019
These financial statements were approved by the board of directors and authorised for issue on 7 May 2020 , and are signed on behalf of the board by:
Mr C JUDE
Director
Company registration number: 09374841
HMS VILGO UK LTD
Notes to the Financial Statements
Year ended 31 December 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Ccfgb, Becket House, 1 Lambeth Palace Roa, London, SE1 7EU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Motor vehicles
-
25% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2018: 1 ).
5. Tangible assets
Motor vehicles
£
Cost
At 1 January 2019 and 31 December 2019
21,643
--------
Depreciation
At 1 January 2019
11,273
Charge for the year
5,411
--------
At 31 December 2019
16,684
--------
Carrying amount
At 31 December 2019
4,959
--------
At 31 December 2018
10,370
--------
6. Debtors
2019
2018
£
£
Other debtors
2,174
2,672
-------
-------
7. Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
2,032
–
Amounts owed to group undertakings and undertakings in which the company has a participating interest
77,117
69,156
Other creditors
750
1,200
--------
--------
79,899
70,356
--------
--------
8. Called up share capital
Issued, called up and fully paid
2019
2018
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
9. Related party transactions
The company has taken advantage of the exemption not to disclose transactions entered into by two or members of a group where a subsidiary that is party to a transaction is wholly owned by such a member. The company is a wholly owned subsidiary of Home Medical Service H.M.S, SAS, a company incorporated in France.
10. Controlling party
The company regards Home Medical Service H.M.S SAS, a company incorporated in France, as its ultimate parent company and controlling party.It's registered office is at 243 RUE SALVADOR ALLENDE PARC EURASANTÉ EPI DE SOIL 59120 LOOS, FRANCE.