Poole Road Veterinary Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06586206 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

POOLE ROAD VETERINARY LTD

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

12,597

15,668

12,597

15,668

Current assets

Stocks

17,096

18,538

Debtors

6

1,142

6,482

Cash at bank and in hand

21,111

18,778

39,349

43,798

Creditors

Amounts falling due within one year

7

41,031

39,947

Net current (liabilities)/assets

(1,682

)

3,851

Total assets less current liabilities

10,915

19,519

Provisions for liabilities

8

2,519

2,977

Net assets

8,396

16,542

Capital and reserves

Called up share capital

9

102

102

Retained earnings

8,294

16,440

Shareholders' funds

8,396

16,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2023 and were signed on its behalf by:

Sir H Feilden - Director

1.	Statutory information

Poole Road Veterinary Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06586206. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 340 Poole Road, Branksome, Poole, Dorset, BH12 1AW.

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 represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised when the service has been provided to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2009, has been fully amortised.

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 each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stock and Work In Progress are valued at the lower of cost and net realisable value.

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 taxation

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 6 (2022 - 9 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2022

and 31 March 2023

126,747

Amortisation

At 1 April 2022

and 31 March 2023

126,747

Net book value

At 31 March 2023

-

At 31 March 2022

-

5.	Tangible fixed assets

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Cost

At 1 April 2022

3,000

40,319

16,095

59,414

Additions

-

515

613

1,128

At 31 March 2023

3,000

40,834

16,708

60,542

Depreciation

At 1 April 2022

3,000

28,538

12,208

43,746

Charge for year

-

3,074

1,125

4,199

At 31 March 2023

3,000

31,612

13,333

47,945

Net book value

At 31 March 2023

-

9,222

3,375

12,597

At 31 March 2022

-

11,781

3,887

15,668

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

258

202

Other debtors

-

4,196

Prepayments

884

2,084

1,142

6,482

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Trade creditors

18,767

17,632

Tax

11,641

11,367

Social security and other taxes

71

291

Pension creditor

23

63

VAT

6,280

6,843

Directors' current accounts

419

106

Accruals and deferred income

3,830

3,645

41,031

39,947

8.	Provisions for liabilities

2023

2022

£

£

Deferred tax

2,519

2,977

Deferred

tax

£

Balance at 1 April 2022

2,977

Credit to Income statement during year

(458

)

Balance at 31 March 2023

2,519

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

2

A

£1

2

2

102

102

10.	Ultimate controlling party

The company is controlled by its directors Sir H and Lady G Feilden who between them own 100% of the issued share capital.