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Registration number: 12706616

Screening Solutions Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 March 2023

 

Screening Solutions Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Screening Solutions Ltd

(Registration number: 12706616)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Intangible assets

4

 

25,403

 

28,578

Current assets

   

 

Debtors

5

7,916

 

5,840

 

Cash at bank and in hand

 

41,442

 

12,769

 

 

49,358

 

18,609

 

Creditors: Amounts falling due within one year

6

(59,240)

 

(28,221)

 

Net current liabilities

   

(9,882)

 

(9,612)

Total assets less current liabilities

   

15,521

 

18,966

Creditors: Amounts falling due after more than one year

6

 

(10,523)

 

(18,710)

Net assets

   

4,998

 

256

Capital and reserves

   

 

Called up share capital

7

104

 

104

 

Profit and loss account

4,894

 

152

 

Total equity

   

4,998

 

256

For the financial year ending 31 March 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 13 July 2023 and signed on its behalf by:
 

.........................................
Mr Nicholas Colquhoun
Director

 

Screening Solutions Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Fusion Court Aberford Road
Garforth
Leeds
LS25 2GH
United Kingdom

These financial statements were authorised for issue by the Board on 13 July 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

 

Screening Solutions Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

estimated useful life of ten years

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

 

Screening Solutions Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

31,754

31,754

At 31 March 2023

31,754

31,754

Amortisation

At 1 April 2022

3,176

3,176

Amortisation charge

3,175

3,175

At 31 March 2023

6,351

6,351

Carrying amount

At 31 March 2023

25,403

25,403

At 31 March 2022

28,578

28,578

5

Debtors

Current

2023
£

2022
£

Trade debtors

7,740

-

Other debtors

176

5,840

 

7,916

5,840

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

8,187

7,430

Taxation and social security

47,051

19,171

Other creditors

4,002

1,620

59,240

28,221

Due after one year

Loans and borrowings

10,523

18,710

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10,523

18,710

 

Screening Solutions Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

1

1

1

1

 

104

104

104

104