E C Straiton & Partners Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07097933 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

E C Straiton & Partners Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

128,750

257,500

Tangible assets

5

406,599

425,095

535,349

682,595

CURRENT ASSETS

Stocks

101,667

91,402

Debtors

6

271,699

292,034

Cash at bank and in hand

887,450

686,080

1,260,816

1,069,516

CREDITORS

Amounts falling due within one year

7

944,821

823,550

NET CURRENT ASSETS

315,995

245,966

TOTAL ASSETS LESS CURRENT LIABILITIES

851,344

928,561

CREDITORS

Amounts falling due after more than one year

8

(346,324

)

(519,486

)

PROVISIONS FOR LIABILITIES

(43,451

)

(43,365

)

NET ASSETS

461,569

365,710

CAPITAL AND RESERVES

Called up share capital

520

360

Capital redemption reserve

60

40

Retained earnings

460,989

365,310

SHAREHOLDERS' FUNDS

461,569

365,710

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

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

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2020 and were signed on its behalf by:

S Woodcock - Director

1.	STATUTORY INFORMATION

E C Straiton & Partners 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:

07097933

Registered office:

Veterinary Hospital

Cannock Road

Penkridge

Staffs

ST19 5RY

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources

to continue in operational existence for the foreseeable future, being the 12 month period from the date of

these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the

financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, and is recognised as

the company becomes entitled to consideration for those goods and services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

The useful economic life of goodwill has been reassessed during the year and has been reduced from twenty

years to ten years. The directors' believe this is a more accurate reflection of the use of goodwill.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Straight line over 10 years

Improvements to property

-

10% straight line basis

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on reducing balance

Leasehold property is depreciated evenly over the life of the lease.

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 Profit and Loss Account,

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2018 - 55 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

1,200,000

AMORTISATION

At 1 January 2019

942,500

Charge for year

128,750

At 31 December 2019

1,071,250

NET BOOK VALUE

At 31 December 2019

128,750

At 31 December 2018

257,500

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Long

to

Plant and

property

leasehold

property

machinery

£

£

£

£

COST

At 1 January 2019

263,245

152,076

15,400

332,092

Additions

-

-

-

47,623

Disposals

-

-

-

(47,152

)

At 31 December 2019

263,245

152,076

15,400

332,563

DEPRECIATION

At 1 January 2019

130,914

67,178

1,540

196,012

Charge for year

26,325

7,605

1,540

32,882

Eliminated on disposal

-

-

-

(27,841

)

At 31 December 2019

157,239

74,783

3,080

201,053

NET BOOK VALUE

At 31 December 2019

106,006

77,293

12,320

131,510

At 31 December 2018

132,331

84,898

13,860

136,080

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2019

16,938

91,634

60,490

931,875

Additions

4,224

49,216

861

101,924

Disposals

-

(3,000

)

(32,235

)

(82,387

)

At 31 December 2019

21,162

137,850

29,116

951,412

DEPRECIATION

At 1 January 2019

8,463

63,658

39,015

506,780

Charge for year

2,540

19,198

2,931

93,021

Eliminated on disposal

-

(2,600

)

(24,547

)

(54,988

)

At 31 December 2019

11,003

80,256

17,399

544,813

NET BOOK VALUE

At 31 December 2019

10,159

57,594

11,717

406,599

At 31 December 2018

8,475

27,976

21,475

425,095

6.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

243,289

262,213

Other debtors

28,230

29,821

271,519

292,034

Amounts falling due after more than one year:

Other debtors

180

-

Aggregate amounts

271,699

292,034

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

184,682

144,191

Taxation and social security

366,065

314,115

Other creditors

394,074

365,244

944,821

823,550

Included in Other Creditors due within one year is a balance representing the liability due to the previous

shareholder, Mr K Anderson, upon a purchase of own shares contract.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

346,324

519,486

Included in Other Creditors due after one year is a balance representing the liability due to the previous

shareholder, Mr K Anderson, upon a purchase of own shares contract.