Meadows Veterinary Centre Limited - Accounts to registrar (filleted) - small 23.2.5
Meadows Veterinary Centre Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| FOR |
| MEADOWS VETERINARY CENTRE LIMITED |
| MEADOWS VETERINARY CENTRE LIMITED (REGISTERED NUMBER: SC377868) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| MEADOWS VETERINARY CENTRE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 28 Broad Street |
| Peterhead |
| Aberdeenshire |
| AB42 1BY |
| BANKERS: |
| Oldmeldrum Branch |
| 26 West High Street |
| Inverurie |
| Aberdeenshire |
| AB51 3SL |
| MEADOWS VETERINARY CENTRE LIMITED (REGISTERED NUMBER: SC377868) |
| BALANCE SHEET |
| 30 APRIL 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 7 |
| SHAREHOLDERS' FUNDS |
| 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. |
| MEADOWS VETERINARY CENTRE LIMITED (REGISTERED NUMBER: SC377868) |
| BALANCE SHEET - continued |
| 30 APRIL 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MEADOWS VETERINARY CENTRE LIMITED (REGISTERED NUMBER: SC377868) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises the fair value of the sale of goods and services, net of value-added tax, rebates and discounts. |
| Turnover is recognised as follows: |
| Sale of goods |
| sales of goods are recognised when the company has delivered products to the customer, the customer has accepted the products, and collectability of the related receivables is fairly issued. |
| In respect of products sold with a right of return, accumulated experience is used to estimate and provide such returns at the time of sale. |
| Sale of services |
| Service revenues are recognised as those services are provided to customers. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its useful life of 5 years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| 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 |
| Plant and machinery etc | - |
| 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 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. |
| 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. |
| MEADOWS VETERINARY CENTRE LIMITED (REGISTERED NUMBER: SC377868) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| 1. | ACCOUNTING POLICIES - continued |
| 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. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 May 2022 |
| and 30 April 2023 |
| AMORTISATION |
| At 1 May 2022 |
| and 30 April 2023 |
| NET BOOK VALUE |
| At 30 April 2023 |
| At 30 April 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 April 2023 |
| DEPRECIATION |
| At 1 May 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2023 |
| NET BOOK VALUE |
| At 30 April 2023 |
| At 30 April 2022 |
| MEADOWS VETERINARY CENTRE LIMITED (REGISTERED NUMBER: SC377868) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan accounts | 11,811 | 14,436 |
| Taxation |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Taxation |
| Social security and other taxes |
| VAT | 103,913 | 84,778 |
| Other creditors |
| Pension liability | 3,582 | - |
| Directors' loan accounts | 2,598 | 2,598 |
| Accruals |
| 7. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 May 2022 |
| Profit for the year |
| Dividends | ( |
) |
| At 30 April 2023 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits from directors subsisted during the years ended 30 April 2023 and 30 April 2022: |
| 2023 | 2022 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| MEADOWS VETERINARY CENTRE LIMITED (REGISTERED NUMBER: SC377868) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 APRIL 2023 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The controlling parties are Mr J G Fowlie and Mr E Jamieson. |