Company Registration No. 09540794 (England and Wales)
ZOOMDOC LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
ZOOMDOC LTD
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 7
ZOOMDOC LTD
COMPANY INFORMATION
- 1 -
Directors
Dr K J Livingstone
Mr G N Fingland
Secretary
Mr H Livingstone
Company number
09540794
Registered office
2 Chanin Mews
London
England
NW2 4AQ
Accountants
Consilium Chartered Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
Business address
Unit 2, Block C, NW Works
135 Salusbury Road
London
United Kingdom
NW6 6RJ
ZOOMDOC LTD
BALANCE SHEET
AS AT
30 APRIL 2021
30 April 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
209,410
225,102
Tangible assets
4
1,345
2,043
210,755
227,145
Current assets
Debtors
5
22,662
2,020
Cash at bank and in hand
45,118
32,784
67,780
34,804
Creditors: amounts falling due within one year
6
(97,408)
(85,602)
Net current liabilities
(29,628)
(50,798)
Total assets less current liabilities
181,127
176,347
Capital and reserves
Called up share capital
7
40
40
Share premium account
687,125
687,125
Profit and loss reserves
(506,038)
(510,818)
Total equity
181,127
176,347
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 April 2022 and are signed on its behalf by:
Dr K J Livingstone
Director
Company Registration No. 09540794
ZOOMDOC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 3 -
1
Accounting policies
Company information
Zoomdoc Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
2 Chanin Mews, London, England, NW2 4AQ. The principal place of business is Unit 2, Block C, NW Works, 135 Salusbury Road, London, United Kingdom, NW6 6RJ. The company's registration number is 09540794.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional
and presentational
currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
The turnover shown in the profit and loss account represents the value of all services delivered during the year, at a selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.
1.3
Research and development expenditure
Development costs are charged to the profit and loss account in the year of expenditure, unless individual projects can demonstrate the following:
The technical feasibility of completing the intangible assets so that it will be available for use or sale;
The ability to use of sell the intangible asset;
The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset;
In such circumstances the costs are carried forward as an intangible fixed asset and amortised over a period not exceeding 10 years commencing in the period the assets are available for use.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Computer equipment
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to the profit and loss account
.
ZOOMDOC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
ZOOMDOC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 5 -
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
the profit and loss account
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Total
1
2
3
Intangible fixed assets
Development costs
£
Cost
At 1 May 2020
273,009
Additions
12,524
At 30 April 2021
285,533
Amortisation and impairment
At 1 May 2020
47,907
Amortisation charged for the year
28,216
At 30 April 2021
76,123
Carrying amount
At 30 April 2021
209,410
At 30 April 2020
225,102
ZOOMDOC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 6 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 May 2020
1,343
2,821
4,164
Additions
425
425
At 30 April 2021
1,343
3,246
4,589
Depreciation and impairment
At 1 May 2020
619
1,502
2,121
Depreciation charged in the year
336
787
1,123
At 30 April 2021
955
2,289
3,244
Carrying amount
At 30 April 2021
388
957
1,345
At 30 April 2020
724
1,319
2,043
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
22,662
2,020
6
Creditors: amounts falling due within one year
2021
2020
£
£
Taxation and social security
11,656
Other creditors
85,752
85,602
97,408
85,602
7
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
402,000 Ordinary shares of 0.01p each
40
40
ZOOMDOC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 7 -
8
Related party transactions
At the year end a total of £54,002 (2020: £54,002) was owed to the directors. The balance is unsecured, interest free with no fixed repayment terms and is included within other creditors.
No other transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
9
Ultimate controlling party
The company is under the control of the holders of the issued share capital of the company. No individual shareholder has a controlling interest.