VSGBI Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 4020415

VSGBI Ltd

Filleted Unaudited Financial Statements

30 June 2020

VSGBI Ltd

Statement of Financial Position

30 June 2020

	2020		2019
Note	£	£	£	£

Current assets

Debtors	6	115,220	123,407
Cash at bank and in hand		145,243	168,182
		---------	---------
		260,463	291,589

Creditors: amounts falling due within one year	7	145,793		227,123
		---------		---------
Net current assets			114,670		64,466
			---------		--------
Total assets less current liabilities			114,670		64,466
			---------		--------
Net assets			114,670		64,466
			---------		--------

Capital and reserves

Called up share capital	8	1	1
Profit and loss account		114,669	64,465
		---------	--------
Shareholder funds		114,670	64,466
		---------	--------

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 Section 1A of 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 comprehensive income has not been delivered.

For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 23 November 2020 , and are signed on behalf of the board by:

Mr M Jenkins	Ms S Renton
Director	Director

Company registration number: 4020415

VSGBI Ltd

Notes to the Financial Statements

Year ended 30 June 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0TT.

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.

Revenue recognition

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.

4. Tax on profit

Reconciliation of tax income

The tax assessed on the profit on ordinary activities for the year is lower than (2019: lower than) the standard rate of corporation tax in the UK of 19 % (2019: 19 %).

	2020	2019
	£	£
Profit on ordinary activities before taxation	114,669	64,465
	---------	--------
Profit on ordinary activities by rate of tax	21,787	12,248
Tax relief in respect of gift aid	( 21,787)	( 12,248)
	---------	--------
Tax on profit	–	–
	---------	--------

5. Employee numbers

	2020	2019
	£	£
Average number of employees including directors	3	3

6. Debtors

	2020	2019
	£	£
Trade debtors	82,306	64,823
Prepayments and accrued income	30,683	58,584
Other debtors	2,231	–
	---------	---------
	115,220	123,407
	---------	---------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	372	9,393
Amounts owed to group undertakings	102,331	119,165
Accruals and deferred income	43,090	87,317
Social security and other taxes	–	11,248
	---------	---------
	145,793	227,123
	---------	---------

8. Called up share capital

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

9. Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102 not to disclose transactions entered into between members of the group. The company is a wholly owned subsidiary undertaking.

10. Controlling party

The ultimate parent company is The Vascular Society , a registered charity incorporated in England and Wales, which owns 100% of the issued share capital of the company. The consolidated accounts of the group can be obtained from 146 New London Road, Chelmsford, Essex, CM2 0TT. There was no ultimate controlling party.