Vital Supplies (UK) Limited 05490003 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is wholesale of pharmaceutical goods. Digita Accounts Production Advanced 6.30.9574.0 true true 05490003 2022-07-01 2023-06-30 05490003 2023-06-30 05490003 bus:OrdinaryShareClass1 2023-06-30 05490003 core:RetainedEarningsAccumulatedLosses 2023-06-30 05490003 core:ShareCapital 2023-06-30 05490003 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05490003 core:FurnitureFittingsToolsEquipment 2023-06-30 05490003 bus:SmallEntities 2022-07-01 2023-06-30 05490003 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05490003 bus:FullAccounts 2022-07-01 2023-06-30 05490003 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05490003 bus:RegisteredOffice 2022-07-01 2023-06-30 05490003 bus:CompanySecretary1 2022-07-01 2023-06-30 05490003 bus:Director1 2022-07-01 2023-06-30 05490003 bus:Director2 2022-07-01 2023-06-30 05490003 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 05490003 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05490003 core:FurnitureFittings 2022-07-01 2023-06-30 05490003 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 05490003 countries:AllCountries 2022-07-01 2023-06-30 05490003 2022-06-30 05490003 core:FurnitureFittingsToolsEquipment 2022-06-30 05490003 2021-07-01 2022-06-30 05490003 2022-06-30 05490003 bus:OrdinaryShareClass1 2022-06-30 05490003 core:RetainedEarningsAccumulatedLosses 2022-06-30 05490003 core:ShareCapital 2022-06-30 05490003 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 05490003 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05490003

Vital Supplies (UK) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Vital Supplies (UK) Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Vital Supplies (UK) Limited

Company Information
__________________________________________________________________________

Directors

Dr Ramasamy Danapal

Mr Mohamed Jaffer Rahemani

Company secretary

Mrs Sabira Rahemani

Registered office

240 Uppingham Avenue
Stanmore
Middlesex
HA7 2JS


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Vital Supplies (UK) Limited

(Registration number: 05490003)
Balance Sheet as at 30 June 2023
__________________________________________________________________________

Note

2023
£

2022
£

   

     

fixed assets

   

 

tangible assets

3

 

2,010

 

2,513

Current assets

   

 

Debtors

4

31,304

 

39,068

 

Cash at bank and in hand

 

46,157

 

30,268

 

 

77,461

 

69,336

 

Creditors: Amounts falling due within one year

5

(78,716)

 

(71,259)

 

Net current liabilities

   

(1,255)

 

(1,923)

Net assets

   

755

 

590

capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

753

 

588

 

Total equity

   

755

 

590

For the financial year ending 30 June 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 Board on 3 October 2023 and signed on its behalf by:
 

.........................................
Mr Mohamed Jaffer Rahemani
Director

 

Vital Supplies (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

1

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture,fittings and equipment

20% on reducing balance basis

 

Vital Supplies (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Vital Supplies (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

8,245

8,245

At 30 June 2023

8,245

8,245

Depreciation

At 1 July 2022

5,732

5,732

Charge for the year

503

503

At 30 June 2023

6,235

6,235

Carrying amount

At 30 June 2023

2,010

2,010

At 30 June 2022

2,513

2,513

4

Debtors

Current

2023
£

2022
£

Trade debtors

30,049

35,345

Prepayments

1,255

3,723

 

31,304

39,068

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

trade creditors

59,510

51,147

Taxation and social security

15,300

16,210

Other creditors

3,906

3,902

78,716

71,259

6

Share capital

Allotted, called up and fully paid shares

 

Vital Supplies (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
__________________________________________________________________________

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2