Vision Diagnostic Imaging Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10696454 (England and Wales)

Financial Statements for the Year Ended 30 April 2021

for

Vision Diagnostic Imaging Limited

Page

Company Information

1

Report of the Accountant

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Dr M M Costello

SECRETARY:

REGISTERED OFFICE:

Culver House

High Street

Arlingham

Gloucester

GL2 7JN

REGISTERED NUMBER:

10696454 (England and Wales)

ACCOUNTANT:

James Bishop

Accounting Services

Suite E

The Old Dutch Barn

Westend Office Suites

Stonehouse

Gloucestershire

GL10 3GE

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2021 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

James Bishop

Accounting Services

Suite E

The Old Dutch Barn

Westend Office Suites

Stonehouse

Gloucestershire

GL10 3GE

22 April 2022

FIXED ASSETS

Intangible assets

4

60,000

90,000

Tangible assets

5

42,941

12,448

102,941

102,448

CURRENT ASSETS

Debtors

6

46,043

9,540

Cash at bank

235,096

226,351

281,139

235,891

CREDITORS

Amounts falling due within one year

7

251,068

241,414

NET CURRENT ASSETS/(LIABILITIES)

30,071

(5,523

)

TOTAL ASSETS LESS CURRENT LIABILITIES

133,012

96,925

PROVISIONS FOR LIABILITIES

1,256

2,365

NET ASSETS

131,756

94,560

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

131,656

94,460

131,756

94,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2022 and were signed by:

Dr M M Costello - Director

1.	STATUTORY INFORMATION

Vision Diagnostic Imaging 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

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:

Plant & machinery - 25 per cent on cost

Computer equipment - 33 per cent on cost

Fixtures & fittings - 25 per cent on cost

Motor vehicles - 33 per cent on cost

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 2 (2020 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2020

and 30 April 2021

150,000

AMORTISATION

At 1 May 2020

60,000

Charge for year

30,000

At 30 April 2021

90,000

NET BOOK VALUE

At 30 April 2021

60,000

At 30 April 2020

90,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2020

24,897

Additions

55,013

At 30 April 2021

79,910

DEPRECIATION

At 1 May 2020

12,449

Charge for year

24,520

At 30 April 2021

36,969

NET BOOK VALUE

At 30 April 2021

42,941

At 30 April 2020

12,448

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

46,043

9,540

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

37,292

22,763

Other creditors

213,776

218,651

251,068

241,414

8.	RELATED PARTY DISCLOSURES

The company owed the director, Dr MM Costello, £211,960 (2020: £216,837) at the year end. There are no set repayment terms and no interest has been paid on this balance.

Dividends of £38,457 (2020: £41,000) were paid to Dr MM Costello, the sole director and shareholder.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr M M Costello.