VETERINARY_TISSUE_BANK_LI - Accounts

VETERINARY TISSUE BANK LIMITED - Company Information

Print Friendly Version

VETERINARY TISSUE BANK LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

Company Registration No. 06795761 (England and Wales)

VETERINARY TISSUE BANK LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

VETERINARY TISSUE BANK LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

9,719

13,730

Current assets

Stocks

6,189

11,334

Debtors

13,614

11,171

Cash at bank and in hand

1,602

139

21,405

22,644

Creditors: amounts falling due within one year

(7,589)

(7,661)

Net current assets

13,816

14,983

Total assets less current liabilities

23,535

28,713

Accruals and deferred income

(1,000)

(1,500)

22,535

27,213

Capital and reserves

Called up share capital

1,000

Share premium account

49,600

Profit and loss account

(28,065)

(23,387)

Shareholders' funds

22,535

27,213

For the financial year ended 31 March 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 30 December 2015

Mr J F Innes

Dr P Myint

Director

Company Registration No. 06795761

VETERINARY TISSUE BANK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

Straight Line 25%

Computer equipment

Straight Line 25%

Fixtures, fittings & equipment

Straight Line 25%

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance is not discounted. Deferred tax assets are recognised only to the extent that it is considered more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

1.8

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

VETERINARY TISSUE BANK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2014

30,379

Additions

999

At 31 March 2015

31,378

Depreciation

At 1 April 2014

16,649

Charge for the year

5,010

At 31 March 2015

21,659

Net book value

At 31 March 2015

9,719

At 31 March 2014

13,730

Share capital

2015

2014

Allotted, called up and fully paid

1,000 Ordinary Shares of £1 each

1,000

Ultimate parent company

The company is not under the control of any one person