Company Registration No. 12147431 (England and Wales)
Ultrasound Link Ltd
Unaudited accounts
for the period from 9 August 2019 to 31 August 2020
Ultrasound Link Ltd
Unaudited accounts
Contents
Ultrasound Link Ltd
Statement of financial position
as at 31 August 2020
Cash at bank and in hand
77,724
Creditors: amounts falling due within one year
(24,001)
Total assets less current liabilities
125,654
Creditors: amounts falling due after more than one year
(92,165)
Profit and loss account
(46,511)
Shareholders' funds
33,489
For the period ending 31 August 2020 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 April 2021 and were signed on its behalf by
Tom Ushakov
Director
Company Registration No. 12147431
Ultrasound Link Ltd
Notes to the Accounts
for the period from 9 August 2019 to 31 August 2020
Ultrasound Link Ltd is a private company, limited by shares, registered in England and Wales, registration number 12147431. The registered office is 1st Floor, 36 Spital Square, London, E1 6DY.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Ultrasound Link Ltd
Notes to the Accounts
for the period from 9 August 2019 to 31 August 2020
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
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Tangible fixed assets
Total
Charge for the period
7,765
Allotted, called up and fully paid:
133 Ordinary shares of £0.0001 each
0.01
Shares issued during the period:
133 Ordinary shares of £0.0001 each
0.01
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Average number of employees
During the period the average number of employees was 0.
