Scott Medical Limited - Accounts to registrar (filleted) - small 17.3
Scott Medical Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 July 2017 |
| for |
| Scott Medical Limited |
| Scott Medical Limited (Registered number: NI065193) |
| Contents of the Financial Statements |
| for the year ended 31 July 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 8 |
| Scott Medical Limited |
| Company Information |
| for the year ended 31 July 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 169a Upper Newtownards Road |
| Belfast |
| BT4 3HZ |
| BANKERS: |
| Belfast Finance Centre |
| PO Box 183 |
| Donegal Square West |
| Belfast |
| BT1 6JZ |
| Scott Medical Limited (Registered number: NI065193) |
| Balance Sheet |
| 31 July 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Scott Medical Limited (Registered number: NI065193) |
| Balance Sheet - continued |
| 31 July 2017 |
| 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 on by: |
| Scott Medical Limited (Registered number: NI065193) |
| Notes to the Financial Statements |
| for the year ended 31 July 2017 |
| 1. | STATUTORY INFORMATION |
| Scott Medical Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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. |
| Patents & licences |
| Patents, being the amount paid for the copyright of a design and development product, is being amortised evenly |
| over its estimated useful life of two years. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Motor vehicles | - |
| 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. |
| Scott Medical Limited (Registered number: NI065193) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| 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. |
| Dividends |
| Dividends are included in the financial statements in the period in which they are actually paid. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Patents |
| and |
| Goodwill | licences | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2016 |
| and 31 July 2017 |
| AMORTISATION |
| At 1 August 2016 |
| Amortisation for year |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| Scott Medical Limited (Registered number: NI065193) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Long | Plant and | Motor |
| leasehold | machinery | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 August 2016 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 July 2017 |
| DEPRECIATION |
| At 1 August 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 July 2017 |
| NET BOOK VALUE |
| At 31 July 2017 |
| At 31 July 2016 |
| The net book value of tangible fixed assets includes £ 62,879 (2016 - £ 92,860 ) in respect of assets held under |
| hire purchase contracts. |
| 6. | STOCKS |
| 2017 | 2016 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Directors' current accounts | 69,000 | 84,000 |
| Accrued expenses |
| Scott Medical Limited (Registered number: NI065193) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2017 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| Directors loan account | 1,039 | 55,120 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by its directors. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Scott Medical Limited |
| The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies. |
| In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 July 2017 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us. |
| This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. |
| Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, |
| report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to |
| them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume |
| responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for |
| this report. |
| We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in |
| Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the |
| compilation of financial statements. |
| You have acknowledged on the Balance Sheet as at 31 July 2017 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. |
| We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. |
| Chartered Accountants |
| 169a Upper Newtownards Road |
| Belfast |
| BT4 3HZ |