Martin Brookes Equine Dental Serv Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08137498 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Martin Brookes Equine Dental Services

Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Mr Martin Brookes

REGISTERED OFFICE:

Queen Street Chambers

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BUSINESS ADDRESS:

Grove House Farm

Main Road

Wharncliffe Side

Sheffield

South Yorkshire

S35 0DQ

REGISTERED NUMBER:

08137498 (England and Wales)

ACCOUNTANTS:

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

National Westminster Bank plc

26 Market Hill

Barnsley

South Yorkshire

S70 2QE

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 Balance Sheet. 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 Martin Brookes Equine Dental Services Limited for the year ended 31 December 2020 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Martin Brookes Equine Dental Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Martin Brookes Equine Dental Services Limited and state those matters that we have agreed to state to the director of Martin Brookes Equine Dental Services Limited 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 Martin Brookes Equine Dental Services Limited and its director for our work or for this report.

It is your duty to ensure that Martin Brookes Equine Dental Services 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 profit of Martin Brookes Equine Dental Services Limited. You consider that Martin Brookes Equine Dental Services Limited 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 Martin Brookes Equine Dental Services 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.

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

12 April 2021

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

178,041

177,747

178,041

177,747

CURRENT ASSETS

Debtors

6

809

1,249

Cash at bank

28,927

10,963

29,736

12,212

CREDITORS

Amounts falling due within one year

7

(103,330

)

(86,397

)

NET CURRENT LIABILITIES

(73,594

)

(74,185

)

TOTAL ASSETS LESS CURRENT LIABILITIES

104,447

103,562

CREDITORS

Amounts falling due after more than one year

8

-

(3,898

)

PROVISIONS FOR LIABILITIES

(4,412

)

(5,370

)

NET ASSETS

100,035

94,294

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

100,034

94,293

100,035

94,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 April 2021 and were signed by:

Mr Martin Brookes - Director

1.	STATUTORY INFORMATION

Martin Brookes Equine Dental Services Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been amortised evenly over its estimated useful life of five 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.

Tangible fixed assets

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

Freehold property

-

not depreciated

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowing are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Going concern

The Covid-19 pandemic is an unprecedented situation and while the reduction in activity associated with Covid-19 could be sharp and large, it is likely to rebound sharply when social distancing measures are lifted. In addition, in the intervening period, while activity is disrupted, substantial and substantive government and central bank measures have been put in place in the UK and internationally to support businesses and households. The measures, which have been evolving rapidly and could evolve further, are expected to remain in place throughout the period of disruption.

With the support of existing lenders and creditors and the steps the director has taken with the light of the above the director considers the company to be a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2020

and 31 December 2020

10,000

AMORTISATION

At 1 January 2020

and 31 December 2020

10,000

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2020

146,159

34,911

46,978

228,048

Additions

8,664

391

-

9,055

At 31 December 2020

154,823

35,302

46,978

237,103

DEPRECIATION

At 1 January 2020

-

25,717

24,584

50,301

Charge for year

-

3,163

5,598

8,761

At 31 December 2020

-

28,880

30,182

59,062

NET BOOK VALUE

At 31 December 2020

154,823

6,422

16,796

178,041

At 31 December 2019

146,159

9,194

22,394

177,747

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

31/12/19

£

£

Other debtors

809

1,249

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

31/12/19

£

£

Bank loans and overdrafts

3,899

5,522

Taxation and social security

19,649

18,443

Other creditors

79,782

62,432

103,330

86,397

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/20

31/12/19

£

£

Bank loans

-

3,898

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/20

31/12/19

£

£

Bank loans

3,899

9,420