Aldeburgh Vets Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12536527 (England and Wales)

Unaudited Financial Statements

for the Period

27 March 2020 to 31 March 2021

for

Aldeburgh Vets Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Bartman

G Faulkner

B T Faulkner

REGISTERED OFFICE:

Hacheston Lodge

The Street

Hacheston

Woodbridge

Suffolk

IP13 0DL

REGISTERED NUMBER:

12536527 (England and Wales)

ACCOUNTANTS:

Pinfold & Co

Chartered Accountants

8 Deben Mill Business Centre

Old Maltings Approach

Woodbridge

Suffolk

IP12 1BL

FIXED ASSETS

Tangible assets

4

200,278

CURRENT ASSETS

Stocks

5

17,190

Debtors

6

30,242

Cash at bank and in hand

61,302

108,734

CREDITORS

Amounts falling due within one year

7

176,815

NET CURRENT LIABILITIES

(68,081

)

TOTAL ASSETS LESS CURRENT LIABILITIES

132,197

CREDITORS

Amounts falling due after more than one year

8

(222,093

)

PROVISIONS FOR LIABILITIES

9

(2,571

)

NET LIABILITIES

(92,467

)

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

(92,567

)

SHAREHOLDERS' FUNDS

(92,467

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2021 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 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 7 December 2021 and were signed on its behalf by:

G Faulkner - Director

1.	STATUTORY INFORMATION

Aldeburgh Vets 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.

The turnover represents net invoiced sales of services, excluding value added tax, arising from a veterinary practice.

Tangible fixed assets

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

Short leasehold

-

straight line over life of lease

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Government grants

Grants relating to revenue shall be recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Grants relating to assets shall be recognised in income on a systematic basis over the expected useful life of the asset.

Where part of a grant relating to an asset is deferred it shall be recognised as deferred income and not deducted from the carrying amount of the asset.

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 period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

Additions

197,730

3,286

14,759

215,775

At 31 March 2021

197,730

3,286

14,759

215,775

DEPRECIATION

Charge for period

10,985

822

3,690

15,497

At 31 March 2021

10,985

822

3,690

15,497

NET BOOK VALUE

At 31 March 2021

186,745

2,464

11,069

200,278

5.

STOCKS

£

Stocks

17,190

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

23,741

Other debtors

3,469

Prepayments and accrued income

3,032

30,242

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

53,153

VAT

8,124

Pension creditor

112

Directors' loan accounts

100,024

Accruals and deferred income

15,402

176,815

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

222,093

9.	PROVISIONS FOR LIABILITIES

£

Deferred tax

2,571

Deferred

tax

£

Charge to Statement of Income and Retained Earnings during period

2,571

Balance at 31 March 2021

2,571

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

11.	SUMMARY OF TRANSACTIONS WITH DIRECTORS

The following advances by and repayments to directors subsisted during the period ended 31 March 2021:

£

B T Faulkner and G Faulkner

Balance outstanding at start of period

-

Amounts advanced

80,044

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

80,044

J J Bartman

Balance outstanding at start of period

-

Amounts advanced

20,000

Amounts repaid

(20

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

19,980

12.	RELATED PARTY DISCLOSURES

The Colourful Consultancy Limited

A company in which Mr & Mrs Faulkner are directors owning 100%

£

Amount due to related party at the balance sheet date

222,093