Pisces Scientific Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC538354 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Pisces Scientific Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Kennedy

SECRETARY:

S M Kennedy

REGISTERED OFFICE:

8 Deer Park

Fairways Business Park

Livingston

EH54 8AF

REGISTERED NUMBER:

SC538354 (Scotland)

ACCOUNTANTS:

Heather Moore MAAT

8 Deer Park

Fairways Business Park

Livingston

EH54 8GA

FIXED ASSETS

Tangible assets

4

1,259

1,178

CURRENT ASSETS

Stocks

52,631

43,890

Debtors

5

60,736

56,481

Cash at bank

174,445

20,548

287,812

120,919

CREDITORS

Amounts falling due within one year

6

192,429

99,611

NET CURRENT ASSETS

95,383

21,308

TOTAL ASSETS LESS CURRENT LIABILITIES

96,642

22,486

PROVISIONS FOR LIABILITIES

239

224

NET ASSETS

96,403

22,262

CAPITAL AND RESERVES

Called up share capital

95

95

Retained earnings

7

96,308

22,167

96,403

22,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 29 March 2021 and were signed by:

S M Kennedy - Director

1.	STATUTORY INFORMATION

Pisces Scientific Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

straight line over 3 years

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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

4,329

Additions

1,659

At 31 March 2020

5,988

DEPRECIATION

At 1 April 2019

3,151

Charge for year

1,578

At 31 March 2020

4,729

NET BOOK VALUE

At 31 March 2020

1,259

At 31 March 2019

1,178

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

60,118

55,579

Other debtors

618

902

60,736

56,481

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

111,834

29,142

Taxation and social security

50,554

13,751

Other creditors

30,041

56,718

192,429

99,611

7.

RESERVES

Retained

earnings

£

At 1 April 2019

22,167

Profit for the year

79,141

Dividends

(5,000

)

At 31 March 2020

96,308