Alternative Urological Catheter Systems Limited Company Accounts

Alternative Urological Catheter Systems Limited Company Accounts

ALTERNATIVE UROLOGICAL CATHETER SYSTEMS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07091830
Alternative Urological Catheter Systems Limited
Filleted Unaudited Financial Statements
31 March 2018
Alternative Urological Catheter Systems Limited
Financial Statements
Year ended 31 March 2018
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3
Alternative Urological Catheter Systems Limited
Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
£
Current assets
Cash at bank and in hand
29,887
59,155
Creditors: amounts falling due within one year
4
60,842
85,592
--------
--------
Net current liabilities
30,955
26,437
--------
--------
Total assets less current liabilities
( 30,955)
( 26,437)
--------
--------
Net liabilities
( 30,955)
( 26,437)
--------
--------
Capital and reserves
Called up share capital
45,830
45,830
Profit and loss account
( 76,785)
( 72,267)
--------
--------
Shareholders deficit
( 30,955)
( 26,437)
--------
--------
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 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 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have 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 October 2018 , and are signed on behalf of the board by:
Dr S Martin
Chairperson
Company registration number: 07091830
Alternative Urological Catheter Systems Limited
Statement of Changes in Equity
Year ended 31 March 2018
Called up share capital
Profit and loss account
Total
£
£
£
At 1 April 2016
43,330
( 70,617)
( 27,287)
Loss for the year
( 1,650)
( 1,650)
--------
--------
--------
Total comprehensive income for the year
–
( 1,650)
( 1,650)
Issue of shares
2,500
–
2,500
--------
--------
--------
Total investments by and distributions to owners
2,500
–
2,500
At 31 March 2017
45,830
( 72,267)
( 26,437)
Loss for the year
( 4,518)
( 4,518)
--------
--------
--------
Total comprehensive income for the year
–
( 4,518)
( 4,518)
--------
--------
--------
At 31 March 2018
45,830
( 76,785)
( 30,955)
--------
--------
--------
Alternative Urological Catheter Systems Limited
Notes to the Financial Statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bramford House, 23 Westfield Park, Clifton, Bristol, BS6 6LT.
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
Grant income is credited to turnover as it is spent. Unspent grant income is treated as deferred income.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
2,022
2,115
Other creditors
58,820
83,477
--------
--------
60,842
85,592
--------
--------
5. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Professor R C L Feneley
( 34,772)
–
( 1,924)
( 36,696)
--------
----
-------
--------
2017
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Professor R C L Feneley
( 35,272)
2,500
( 2,000)
( 34,772)
--------
-------
-------
--------
6. Related party transactions
The company was under the control of Mr Roger Feneley, a director and members of his close family throughout the current year. Mr Roger Feneley is personally interested in 44.7% (2017-44.7%) of the company's share capital. In addition, his adult children control in aggregate a further 14.3%(2017-14.3%) of the company's issued share capital. During the year Mr Roger Feneley loaned money to the company totalling £1,924 (2017- £2,000). No interest is being charged on this loan and there is no fixed date for repayment. Mr Roger Feneley died after the year end on 6 June 2018.