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Financial Statements for the Year Ended 31 March 2020 |
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Prosys International Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 March 2020 |
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for |
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Prosys International Limited |
Prosys International Limited (Registered number: 04201958) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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Prosys International Limited (Registered number: 04201958) |
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Balance Sheet |
31 March 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
Called up share capital | 7 |
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Retained earnings |
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Shareholders' funds |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Prosys International Limited (Registered number: 04201958) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
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1. | Statutory information |
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Prosys International Limited is a
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Wales. The company's registered number and registered office address are as below: |
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Registered number: | 04201958 |
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Registered office: | 85 Church Road |
Hove |
East Sussex |
BN3 2BB |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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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" taking advantage of |
the reduced disclosure requirements in Section 1A and the Companies Act 2006. The financial |
statements have been prepared under the historical cost convention. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents |
amounts receivable for goods supplied and services rendered, stated net of discounts and of Value |
Added Tax. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of |
the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can |
be measured reliably, it is probable that the associated economic benefits will flow to the entity, and |
the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
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When the outcome of a transaction involving the rendering of services can be reliably estimated, |
revenue from the rendering of services is measured by reference to the stage of completion of the |
service transaction at the end of the reporting period. When the outcome of a transaction involving the |
rendering of services cannot be reliably estimated, revenue is recognised only to the extent that |
expenses recognised are recoverable. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated |
depreciation and impairment losses. |
Prosys International Limited (Registered number: 04201958) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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2. | Accounting policies - continued |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Stock is calculated on a first in, first out basis. |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the |
contractual provisions of the instrument. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement |
constitutes a financing transaction, where it is recognised at the present value of the future payments |
discounted at a market rate of interest for a similar debt instrument. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of |
Income and Retained Earnings, except to the extent that it relates to items recognised in other |
comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
the operating result. |
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Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
Prosys International Limited (Registered number: 04201958) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 April 2019 |
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Additions |
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At 31 March 2020 |
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Depreciation |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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Net book value |
At 31 March 2020 |
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At 31 March 2019 |
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5. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Prosys International Limited (Registered number: 04201958) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | Off-balance sheet arrangements |
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At the year end, the company had operating lease commitments of £45,499 (2019: £42,327). |
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10. | Parent undertakings |
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The company's parent company is S P Healthcare Limited, incorporated in England and Wales. The |
ultimate parent company is Dahlhausen Holdings AG, and its registered office is Emil-Hoffmann-Str. |
53, 50996 Cologne, Germany. Group accounts are also available from this address. |