| European College of Veterinary Pharmacology and Toxicology Ltd |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of European College of Veterinary Pharmacology and Toxicology Ltd for the year ended 31 July 2021 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of European College of Veterinary Pharmacology and Toxicology Ltd for the year ended 31 July 2021 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance |
| This report is made solely to the Board of Directors of European College of Veterinary Pharmacology and Toxicology Ltd, as a body, in accordance with the terms of our engagement letter dated 3 February 2022. Our work has been undertaken solely to prepare for your approval the accounts of European College of Veterinary Pharmacology and Toxicology Ltd and state those matters that we have agreed to state to the Board of Directors of European College of Veterinary Pharmacology and Toxicology Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than European College of Veterinary Pharmacology and Toxicology Ltd and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that European College of Veterinary Pharmacology and Toxicology Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of European College of Veterinary Pharmacology and Toxicology Ltd. You consider that European College of Veterinary Pharmacology and Toxicology Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of European College of Veterinary Pharmacology and Toxicology Ltd. 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 statutory accounts. |
|
| Thomas Quinn |
| Chartered Accountants |
| 82b High Street |
| Sawston |
| Cambridge |
| CB22 3HJ |
|
| 5 April 2022 |
|
| European College of Veterinary Pharmacology and Toxicology Ltd |
| Registered number: |
07311080 |
| Balance Sheet |
| as at 31 July 2021 |
|
| Notes |
|
|
2021 |
|
|
2020 |
| £ |
£ |
| Current assets |
| Debtors |
4 |
|
- |
|
|
682 |
| Cash at bank and in hand |
|
|
27,252 |
|
|
23,479 |
|
|
|
27,252 |
|
|
24,161 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,563) |
|
|
(990) |
|
| Net current assets |
|
|
|
25,689 |
|
|
23,171 |
|
| Net assets |
|
|
|
25,689 |
|
|
23,171 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
25,689 |
|
|
23,171 |
|
| Shareholders' funds |
|
|
|
25,689 |
|
|
23,171 |
|
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Prof J Elliot |
| Director |
| Approved by the board on 5 April 2022 |
|
| European College of Veterinary Pharmacology and Toxicology Ltd |
| Notes to the Accounts |
| for the year ended 31 July 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
6 |
|
6 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
|
|
There is no tax liability arising from these accounts. The college is only liable to corporation tax on any investment income it receives. |
|
|
| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Trade debtors |
- |
|
682 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Payments in advance |
573 |
|
- |
|
Other creditors |
990 |
|
990 |
|
|
|
|
|
|
1,563 |
|
990 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
European College of Veterinary Pharmacology and Toxicology Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
82b High Street |
|
Sawston |
|
Cambridge |
|
CB22 3HJ |
