Arun Veterinary Group Limited - Period Ending 2020-12-31
Arun Veterinary Group Limited - Period Ending 2020-12-31
Registration number:
Arun Veterinary Group Limited
for the Year Ended 31 December 2020
Arun Veterinary Group Limited
Contents
Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
Arun Veterinary Group Limited
(Registration number: 05649864)
Abridged Balance Sheet as at 31 December 2020
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2020 |
2019 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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Arun Veterinary Group Limited
(Registration number: 05649864)
Abridged Balance Sheet as at 31 December 2020
For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Mr M Gittings
Director
Mrs S Gittings
Director
Arun Veterinary Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2020
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The director has agreed to continue to support the company for at least a period of 12 months after signing the accounts.
Revenue recognition
Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Arun Veterinary Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2020
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold property |
2% straight line |
Leasehold improvements |
5% straight line |
Fixtures and fittings |
20% - 25% straight line |
Motor vehicles |
25% reducing balance |
Goodwill
Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
5% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Total |
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Cost or valuation |
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At 1 January 2020 |
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At 31 December 2020 |
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Amortisation |
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At 1 January 2020 |
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Amortisation charge |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Arun Veterinary Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2020
Tangible assets |
Total |
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Cost or valuation |
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At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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Depreciation |
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At 1 January 2020 |
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Charge for the year |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Creditors: amounts falling due within one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £94,000 (2019 - £297,130).
Creditors: amounts falling due after more than one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £2,721,070 (2019 - £3,599,472).
Creditors include bank loans repayable by instalments of £2,369,612 (2019 - £2,462,953) due after more than five years.
Bank borrowings
Security is given by way of fixed and floating charge. |
Arun Veterinary Group Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2020
Related party transactions |
Transactions with directors |
2020 |
At 1 January 2020 |
Advances to directors |
Other payments made to company by director |
At 31 December 2020 |
Mr M Gittings |
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Directors' advances and credits - repayable on demand and interest charged at commercial rate |
6,040 |
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(335,352) |
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2019 |
Advances to directors |
Repayments by director |
At 31 December 2019 |
Mr M Gittings |
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Directors' advances and credits - repayable on demand and interest charged at commercial rate |
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( |
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