Registration number:
In-depth Ultrasound Ltd
for the Period from 1 October 2019 to 31 March 2021
In-depth Ultrasound Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
In-depth Ultrasound Ltd
Company Information
Director |
Mrs Claire Ramsay |
Registered office |
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Accountants |
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DEANS
Chartered Accountants
Chartered
Accountants' Report to the
Director
on the Preparation of the Unaudited Statutory Accounts of
In-depth Ultrasound Ltd
for the
Period
Ended
31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of In-depth Ultrasound Ltd for the period ended 31 March 2021 as set out on pages 3 to 5 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 of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.
This report is made solely to the Board of Directors of In-depth Ultrasound Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of In-depth Ultrasound Ltd and state those matters that we have agreed to state to the Board of Directors of In-depth Ultrasound Ltd, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than In-depth Ultrasound Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that In-depth Ultrasound 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 results of In-depth Ultrasound Ltd. You consider that In-depth Ultrasound Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of In-depth Ultrasound 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.
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Hawick
Borders
TD9 9BD
In-depth Ultrasound Ltd
(Registration number: SC546473)
Balance Sheet as at 31 March 2021
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2021 |
2019 |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
- |
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Shareholders' funds |
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For the financial period ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
In-depth Ultrasound Ltd
Notes to the Unaudited Financial Statements for the Period from 1 October 2019 to 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
The principal place of business is:
Avalon
Abbotsford Road
Darnick
TD6 9AH
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and rounded to the nearest £0.
Judgements
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included: |
Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales value added tax, returns, rebates and discounts.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
In-depth Ultrasound Ltd
Notes to the Unaudited Financial Statements for the Period from 1 October 2019 to 31 March 2021
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
Recognition and measurement
Impairment
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Creditors |
Creditors: amounts falling due within one year
2021 |
2019 |
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Due within one year |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2019 |
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No. |
£ |
No. |
£ |
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100 |
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100 |