Registration number:
Vital Imaging Ltd
for the
Year Ended 31 August 2025
(Registration number: 07785163)
Balance Sheet as at 31 August 2025
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Note |
2025 |
2024 |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
- |
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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 current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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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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Total equity |
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For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
(Registration number: 07785163)
Balance Sheet as at 31 August 2025
(continued)
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......................................... |
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
The principal place of business is:
The Cart Shed
Lyme Farm
Eardisland
Leominster
Herefordshire
HR6 9BG
England
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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.
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
(continued)
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2 |
Accounting policies (continued) |
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 deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% of written down value per annum |
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Plant and machinery |
15% of cost per annum |
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
(continued)
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2 |
Accounting policies (continued) |
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Fixtures and fittings |
20% of cost per annum |
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Computer equipment |
33% of cost per annum |
Intangible assets
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
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:
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Asset class |
Amortisation method and rate |
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Computer software |
33% on cost per annum |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
(continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
(continued)
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Intangible assets |
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Contractual customer relationships |
Total |
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Cost or valuation |
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At 1 September 2024 |
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At 31 August 2025 |
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Amortisation |
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At 1 September 2024 |
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At 31 August 2025 |
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Carrying amount |
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At 31 August 2025 |
- |
- |
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
(continued)
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Tangible assets |
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Fixtures and fittings |
Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
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At 1 September 2024 |
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Additions |
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At 31 August 2025 |
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Depreciation |
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At 1 September 2024 |
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Charge for the year |
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At 31 August 2025 |
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Carrying amount |
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At 31 August 2025 |
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At 31 August 2024 |
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Stocks |
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2025 |
2024 |
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Other inventories |
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Debtors |
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
(continued)
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7 |
Debtors (continued) |
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Current |
2025 |
2024 |
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Prepayments |
- |
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- |
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Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
(continued)
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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2 |
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2 |