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COMPANY REGISTRATION NUMBER: 02244177
Scanplus Limited
Filleted Unaudited Financial Statements
31 October 2023
Scanplus Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Scanplus Limited
Period from 1 August 2022 to 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scanplus Limited for the period ended 31 October 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Scanplus Limited, as a body, in accordance with the terms of our engagement letter dated 18 April 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Scanplus Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scanplus Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Scanplus Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Scanplus Limited. You consider that Scanplus Limited 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 financial statements of Scanplus Limited. 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 financial statements.
TURPIN BARKER ARMSTRONG Chartered Certified Accountants
Allen House 1 Westmead Road Sutton Surrey SM1 4LA
6 November 2023
Scanplus Limited
Statement of Financial Position
31 October 2023
31 Oct 23
31 Jul 22
Note
£
£
£
Fixed assets
Tangible assets
5
112,652
Current assets
Stocks
3,685
3,685
Debtors
6
124,013
75,469
Cash at bank and in hand
585,850
722,435
---------
---------
713,548
801,589
Creditors: amounts falling due within one year
7
77,991
62,748
---------
---------
Net current assets
635,557
738,841
---------
---------
Total assets less current liabilities
635,557
851,493
---------
---------
Net assets
635,557
851,493
---------
---------
Scanplus Limited
Statement of Financial Position (continued)
31 October 2023
31 Oct 23
31 Jul 22
Note
£
£
£
Capital and reserves
Called up share capital
400
400
Capital redemption reserve
600
600
Profit and loss account
634,557
850,493
---------
---------
Shareholders funds
635,557
851,493
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 October 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 financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 November 2023 , and are signed on behalf of the board by:
B J Healy
Director
Company registration number: 02244177
Scanplus Limited
Notes to the Financial Statements
Period from 1 August 2022 to 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Allen House, 1 Westmead Road, Sutton, Surrey, SM1 4LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% straight line
Fixtures and fittings
-
10% straight line
Computer equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 8 (2022: 6 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 August 2022
822,883
52,118
3,838
878,839
Additions
1,133
1,133
Disposals
( 824,016)
( 52,118)
( 3,838)
( 879,972)
---------
--------
-------
---------
At 31 October 2023
---------
--------
-------
---------
Depreciation
At 1 August 2022
713,848
51,771
568
766,187
Charge for the period
23,691
43
409
24,143
Disposals
( 737,539)
( 51,814)
( 977)
( 790,330)
---------
--------
-------
---------
At 31 October 2023
---------
--------
-------
---------
Carrying amount
At 31 October 2023
---------
--------
-------
---------
At 31 July 2022
109,035
347
3,270
112,652
---------
--------
-------
---------
6. Debtors
31 Oct 23
31 Jul 22
£
£
Trade debtors
121,616
66,152
Other debtors
2,397
9,317
---------
--------
124,013
75,469
---------
--------
7. Creditors: amounts falling due within one year
31 Oct 23
31 Jul 22
£
£
Trade creditors
40,409
45,835
Social security and other taxes
19,715
8,844
Other creditors
2,573
Other creditors
17,867
5,496
--------
--------
77,991
62,748
--------
--------
8. Directors' advances, credits and guarantees
At no point during the year did advances/credits to the Director's Loan Account result in an overdrawn position.