Corner House Equine Clinic Limited - Period Ending 2016-04-30

Registration number: 06849407

Corner House Equine Clinic Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Corner House Equine Clinic Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Corner House Equine Clinic Limited
(Registration number: 06849407)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					360,652			386,413
Tangible fixed assets					74,914			51,703
					435,566			438,116
Current assets
Stocks					25,018			13,498
Debtors					122,442			106,446
Cash at bank and in hand					183,878			124,564
					331,338			244,508
Creditors: Amounts falling due within one year					(367,097)			(271,143)
Net current liabilities					(35,759)			(26,635)
Total assets less current liabilities					399,807			411,481
Creditors: Amounts falling due after more than one year					(144,766)			-
Provisions for liabilities					(7,243)			(6,126)
Net assets					247,798			405,355
Capital and reserves
Called up share capital		4			40			40
Profit and loss account					247,758			405,315
Shareholders' funds					247,798			405,355

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Corner House Equine Clinic Limited
(Registration number: 06849407)
Abbreviated Balance Sheet at 30 April 2016
......... continued

For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 6 November 2016 and signed on its behalf by:

 Mr R Walsh
 Director

 Mrs A Walsh
 Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Corner House Equine Clinic Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Net goodwill	5% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold improvements	2% straight line
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Corner House Equine Clinic Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2015		515,218			131,728			646,946
Additions		-			44,967			44,967
Disposals		-			(11,871)			(11,871)
At 30 April 2016		515,218			164,824			680,042
Depreciation
At 1 May 2015		128,805			80,025			208,830
Charge for the year		25,761			18,941			44,702
Eliminated on disposals		-			(9,056)			(9,056)
At 30 April 2016		154,566			89,910			244,476
Net book value
At 30 April 2016		360,652			74,914			435,566
At 30 April 2015		386,413			51,703			438,116

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		84,200			-

Page 4

Corner House Equine Clinic Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Class A Ordinary shares of £1 each		20			20			20			20
Class B Ordinary shares of £1 each		10			10			10			10
Class C Ordinary shares of £1 each		10			10			10			10
		40			40			40			40

Page 5