North Essex Veterinary Limited - Accounts to registrar (filleted) - small 18.2

North Essex Veterinary Limited - Accounts to registrar (filleted) - small 18.2

NORTH ESSEX VETERINARY LIMITED - Company Information

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REGISTERED NUMBER: 07937809 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2019

for

North Essex Veterinary Limited
North Essex Veterinary Limited (Registered number: 07937809)






Contents of the Financial Statements
for the Year Ended 31 March 2019




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


North Essex Veterinary Limited (Registered number: 07937809)

Abridged Balance Sheet
31 March 2019

31.3.19 31.3.18
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 160,167 191,167
Tangible assets 6 79,177 98,191
239,344 289,358

CURRENT ASSETS
Stocks 53,450 44,290
Debtors 40,240 32,618
Cash at bank and in hand 228 1,010
93,918 77,918
CREDITORS
Amounts falling due within one year 247,299 239,775
NET CURRENT LIABILITIES (153,381 ) (161,857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
85,963
127,501

CREDITORS
Amounts falling due after more than
one year
47,283
90,303
NET ASSETS 38,680 37,198

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 38,580 37,098
SHAREHOLDERS' FUNDS 38,680 37,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and
387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with
the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The notes form part of these financial statements

Page 1 continued...
North Essex Veterinary Limited (Registered number: 07937809)

Abridged Balance Sheet - continued
31 March 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 5 November 2019 and were signed by:





Mr J F Moloney - Director


The notes form part of these financial statements

Page 2
North Essex Veterinary Limited (Registered number: 07937809)

Notes to the Financial Statements
for the Year Ended 31 March 2019

1. STATUTORY INFORMATION

North Essex Veterinary Limited is a private company, limited by shares , registered in
England and Wales. The company's registered number and registered office address are as
below:

Registered number: 07937809

Registered office: The Marks Farm Veterinary Centre
The Broadway
Great Dunmow
Essex
CM6 3BQ

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the rendering of
services in the ordinary course of the company's activities. Sales are presented, net of
value-added tax, 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 when specific criteria
have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have
been provided to the customer. Where payments are received from customers in advance of
services provided, the amounts are recorded as deferred income and included as part of
creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in the year
is being amortised over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are
measured at cost less any accumulated amortisation and any accumulated impairment
losses.

Page 3 continued...
North Essex Veterinary Limited (Registered number: 07937809)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 4% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement
of Income and Retained Earnings, except to the extent that it relates to items recognised in
other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that
have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the
balance sheet. Those held under hire purchase contracts are depreciated over their
estimated useful lives. Those held under finance leases are depreciated over their
estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.
The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over
the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2018 - 24 ) .

Page 4 continued...
North Essex Veterinary Limited (Registered number: 07937809)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2018
and 31 March 2019 310,000
AMORTISATION
At 1 April 2018 118,833
Amortisation for year 31,000
At 31 March 2019 149,833
NET BOOK VALUE

At 31 March 2019 160,167
At 31 March 2018 191,167

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2018 189,627
Additions 88
At 31 March 2019 189,715
DEPRECIATION
At 1 April 2018 91,436
Charge for year 19,102
At 31 March 2019 110,538
NET BOOK VALUE
At 31 March 2019 79,177
At 31 March 2018 98,191

Page 5 continued...
North Essex Veterinary Limited (Registered number: 07937809)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as
follows:

Totals
£   
COST
At 1 April 2018
and 31 March 2019 69,022
DEPRECIATION
At 1 April 2018 38,161
Charge for year 7,715
At 31 March 2019 45,876
NET BOOK VALUE
At 31 March 2019 23,146
At 31 March 2018 30,861

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J F Moloney.

Page 6