James Arkley Equine Dental Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10450260 (England and Wales)

James Arkley Equine Dental Services Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2019

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

Notes to the financial statements

5

Director:

J D Arkley

Registered office:

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

Business address:

West Dale Cottage

West Dale Drove

Donington

Lincolnshire

PE11 4XG

Registered number:

10450260 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of financial position. Readers are cautioned that the Income

statement and certain other primary statements and the Director's report are not required to be filed

with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of James Arkley Equine Dental Services Ltd for the year ended 31 October 2019

which comprise the Statement of income and retained earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of James Arkley Equine Dental Services Ltd in accordance with the terms of our engagement letter dated 12 April 2019. Our work has been undertaken solely to prepare for your approval the financial statements of James Arkley Equine Dental Services Ltd and state those matters that we have agreed to state to the director of James Arkley Equine Dental Services Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James Arkley Equine Dental Services Ltd and its director for our work or for this report.

It is your duty to ensure that James Arkley Equine Dental Services Ltd 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 profit of James Arkley Equine Dental Services Ltd. You consider that James Arkley Equine Dental Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of James Arkley Equine Dental Services Ltd. 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.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

30 July 2020

Fixed assets

Tangible assets

5

11,727

17,503

Current assets

Debtors

6

1,005

1,104

Cash at bank

34,056

24,504

35,061

25,608

Creditors

Amounts falling due within one year

7

27,993

29,976

Net current assets/(liabilities)

7,068

(4,368

)

Total assets less current liabilities

18,795

13,135

Creditors

Amounts falling due after more than one year

8

-

(1,665

)

Provisions for liabilities

9

(2,228

)

(3,326

)

Net assets

16,567

8,144

Capital and reserves

Called up share capital

10

100

100

Retained earnings

16,467

8,044

Shareholders' funds

16,567

8,144

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2020 and were signed by:

J D Arkley - Director

1.	Statutory information

James Arkley Equine Dental Services Ltd is a private company, limited by shares , registered in

England and Wales. The company's registered number and registered office address can be found on

the Company Information page.

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 preparing the financial statements

The financial statements have been prepared on the historical cost basis, as modified by the

revaluation of certain financial assets and liabilities.

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 and represents

amounts receivable for services rendered, stated net of discounts.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated

depreciation and impairment losses.

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:

Motor vehicles

- 33% reducing balance

Equipment

- 33% reducing balance

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the

contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement

constitutes a financing transaction, where it is recognised at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of

impairment at the end of each reporting date. If there is objective evidence of impairment, an

impairment loss is recognised in profit or loss immediately.

For or all equity instruments regardless of significance, and other financial assets that are individually

significant, these are assessed individually for impairment. Other financial assets are either assessed

individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal

does not result in a carrying amount of the financial asset that exceeds what the carrying amount

would have been had the impairment not previously been recognised.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the

reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items

recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other

comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at

the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or

substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of

financial position as assets and liabilities at the lower of the fair value of the assets and the present

value of the minimum lease payments, which is determined at the inception of the lease term. Any

initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease

liability using the effective interest method. Finance charges are allocated to each period so as to

produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past

event, it is probable that the entity will be required to transfer economic benefits in settlement and the

amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the

statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at

the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current

best estimate of the amount that would be required to settle the obligation. Any adjustments to the

amounts previously recognised are recognised in profit or loss unless the provision was originally

recognised as part of the cost of an asset. When a provision is measured at the present value of the

amount expected to be required to settle the obligation, the unwinding of the discount is recognised as

a finance cost in profit or loss in the period it arises.

4.	Employees and directors

The average number of employees during the year was 2 (2018 - 2 ) .

5.	Tangible fixed assets

Motor

Equipment

vehicles

Totals

£

£

£

Cost

At 1 November 2018

and 31 October 2019

1,214

29,994

31,208

Depreciation

At 1 November 2018

583

13,122

13,705

Charge for year

208

5,568

5,776

At 31 October 2019

791

18,690

19,481

Net book value

At 31 October 2019

423

11,304

11,727

At 31 October 2018

631

16,872

17,503

6.

Debtors: amounts falling due within one year

2019

2018

£

£

Prepayments and accrued income

1,005

1,104

7.

Creditors: amounts falling due within one year

2019

2018

£

£

Hire purchase contracts

1,665

3,331

Trade creditors

-

230

Corporation tax

4,950

5,393

Directors' current accounts

6,195

6,632

Accruals and deferred income

15,183

14,390

27,993

29,976

Assets held under hire purchase contract are secured by the assets to which the contract relates.

8.

Creditors: amounts falling due after more than one year

2019

2018

£

£

Hire purchase contracts

-

1,665

Assets held under hire purchase contract are secured by the assets to which the contract relates.

9.	Provisions for liabilities

2019

2018

£

£

Deferred tax

2,228

3,326

Deferred

tax

£

Balance at 1 November 2018

3,326

Provided during year

(1,098

)

Balance at 31 October 2019

2,228

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary shares of £1 each

1

100

100