TVM UK Animal Health Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10041959 (England and Wales)

TVM UK ANIMAL HEALTH LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms A Chauder

M Leddy

REGISTERED OFFICE:

Building B Kirtlington Business Centre

Slade Farm

Kirtlington

Oxfordshire

OX5 3JA

REGISTERED NUMBER:

10041959 (England and Wales)

AUDITORS:

Murphy Salisbury Limited

Chartered Accountants and Statutory Auditors

15 Warwick Road

Stratford upon Avon

Warwickshire

CV37 6YW

FIXED ASSETS

Intangible assets

4

7,864

10,717

Tangible assets

5

147,157

168,110

155,021

178,827

CURRENT ASSETS

Stocks

6

776,219

551,630

Debtors

7

1,090,944

1,317,237

Cash at bank

792,818

334,200

2,659,981

2,203,067

CREDITORS

Amounts falling due within one year

8

2,062,679

1,781,601

NET CURRENT ASSETS

597,302

421,466

TOTAL ASSETS LESS CURRENT LIABILITIES

752,323

600,293

PROVISIONS FOR LIABILITIES

36,422

32,038

NET ASSETS

715,901

568,255

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

177,938

177,938

Retained earnings

537,763

390,117

SHAREHOLDERS' FUNDS

715,901

568,255

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 Board of Directors and authorised for issue on 6 April 2022 and were signed on its behalf by:

Ms A Chauder - Director

1.	STATUTORY INFORMATION

TVM UK Animal Health 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.	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.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Improvements to leasehold

-

10% - 33.3% on cost

Fixtures and fittings

-

20% straight line basis

Computer equipment

-

25% straight line basis

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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 17 (2020 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2021

and 31 December 2021

14,263

AMORTISATION

At 1 January 2021

3,546

Amortisation for year

2,853

At 31 December 2021

6,399

NET BOOK VALUE

At 31 December 2021

7,864

At 31 December 2020

10,717

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2021

164,120

56,107

42,611

262,838

Additions

1,796

-

12,451

14,247

At 31 December 2021

165,916

56,107

55,062

277,085

DEPRECIATION

At 1 January 2021

36,682

25,168

32,878

94,728

Charge for year

17,081

11,222

6,897

35,200

At 31 December 2021

53,763

36,390

39,775

129,928

NET BOOK VALUE

At 31 December 2021

112,153

19,717

15,287

147,157

At 31 December 2020

127,438

30,939

9,733

168,110

6.

STOCKS

2021

2020

as restated

£

£

Stocks

776,219

551,630

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Trade debtors

985,793

1,214,009

Other debtors

105,151

103,228

1,090,944

1,317,237

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Trade creditors

130,650

82,873

Amounts owed to group undertakings

1,074,402

1,134,310

Taxation and social security

413,216

368,357

Other creditors

444,411

196,061

2,062,679

1,781,601

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

as restated

£

£

Within one year

142,812

128,257

Between one and five years

136,089

156,155

278,901

284,412

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Bullock FCA (Senior Statutory Auditor)

for and on behalf of Murphy Salisbury Limited

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	IMMEDIATE AND ULTIMATE PARENT COMPANY

The immediate parent and ultimate parent company is Domes Pharma SC, registered in France at the following address; 3 Rue Andre Citroen, 63430 Pont-du-Chateau, France.