ViewItUK Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09149002 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

VIEWITUK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Dr M C Donmall

Dr A Jones

Dr Y Taktak

REGISTERED OFFICE:

National Drug Evidence Centre (Ndec)

4th Floor Ellen Wilkinson Building

Oxford Road

Manchester

M13 9PL

REGISTERED NUMBER:

09149002 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

Royal Bank of Scotland Plc

38 Mosley Street

Manchester

M60 2BE

FIXED ASSETS

Intangible assets

3

20,000

-

CURRENT ASSETS

Debtors

4

4,175

-

Cash at bank and in hand

50,305

3

54,480

3

CREDITORS

Amounts falling due within one year

5

37,037

-

NET CURRENT ASSETS

17,443

3

TOTAL ASSETS LESS CURRENT LIABILITIES

37,443

3

CAPITAL AND RESERVES

Called up share capital

6

20,003

3

Retained earnings

17,440

-

37,443

3

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 19 January 2018 and were signed on its behalf by:

Dr Y Taktak - Director

1.	STATUTORY INFORMATION

ViewItUK Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration

in exchange for its performance of its obligations under the sales contract with the customer. The amount

reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual

arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

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.

Intellectual property are being amortised evenly over their estimated useful life of ten years.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

20,000

At 30 April 2017

20,000

NET BOOK VALUE

At 30 April 2017

20,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Other debtors

4,175

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Taxation and social security

4,524

-

Other creditors

32,513

-

37,037

-

6.	CALLED UP SHARE CAPITAL

During the year the company issued share warrants amounting to £20,000 in respect of intellectual property

purchased from Manchester University. This sum has been treated as issue share capital on the basis that it is a

share based payment for an intangible asset acquired.