Poole Road Veterinary Ltd - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 06586206 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

POOLE ROAD VETERINARY LTD

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Intangible assets

4

-

9,052

Tangible assets

5

12,654

11,784

12,654

20,836

Current assets

Stocks

13,892

10,993

Debtors

6

10,890

3,466

Cash at bank

9,406

11,185

34,188

25,644

Creditors

Amounts falling due within one year

7

43,720

41,712

Net current liabilities

(9,532

)

(16,068

)

Total assets less current liabilities

3,122

4,768

Creditors

Amounts falling due after more than one year

8

(609

)

(1,827

)

Provisions for liabilities

9

(2,352

)

(2,139

)

Net assets

161

802

Capital and reserves

Called up share capital

10

100

100

Retained earnings

61

702

Shareholders' funds

161

802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 12 December 2016 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 a business in 2009, is being amortised evenly over its estimated useful life of seven years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or

past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of

current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing

differences are differences between taxable profits and total comprehensive income as stated in the financial statements

that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are

recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance

sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable

tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the

asset.

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 .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2015

and 31 March 2016

126,747

Amortisation

At 1 April 2015

117,695

Charge for year

9,052

At 31 March 2016

126,747

Net book value

At 31 March 2016

-

At 31 March 2015

9,052

5.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 April 2015

12,647

23,279

35,926

Additions

3,198

1,890

5,088

At 31 March 2016

15,845

25,169

41,014

Depreciation

At 1 April 2015

8,346

15,796

24,142

Charge for year

1,875

2,343

4,218

At 31 March 2016

10,221

18,139

28,360

Net book value

At 31 March 2016

5,624

7,030

12,654

At 31 March 2015

4,301

7,483

11,784

6.

Debtors: amounts falling due within one year

2016

2015

£

£

Trade debtors

2,892

2,323

Other debtors

1,263

1,038

Directors' current accounts

6,623

-

Prepayments

112

105

10,890

3,466

7.

Creditors: amounts falling due within one year

2016

2015

£

£

Other loans

1,218

1,218

Trade creditors

18,018

12,740

Tax

13,412

12,666

Social security and other taxes

521

181

VAT

8,151

6,394

Other creditors

-

6,354

Directors' current accounts

-

164

Accruals and deferred income

2,400

1,995

43,720

41,712

8.

Creditors: amounts falling due after more than one year

2016

2015

£

£

Other loans - 2-5 years

609

1,827

9.	Provisions for liabilities

2016

2015

£

£

Deferred tax

2,352

2,139

Deferred

tax

£

Balance at 1 April 2015

2,139

Charge to Statement of comprehensive income during year

213

Balance at 31 March 2016

2,352

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

11.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2016 and 31 March 2015:

2016

2015

£

£

Sir H Feilden

Balance outstanding at start of year

(164

)

(307

)

Amounts advanced

80,686

76,374

Amounts repaid

(73,899

)

(76,231

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,623

(164

)

The amount outstanding at the balance sheet date was the maximum amount outstanding at any time during the year and

was repaid within nine months of the year end.

12.	Ultimate controlling party

The company is controlled by its directors Mr and Mrs Feilden who between them own 100% of the issued share capital.

13.	First year adoption

These financial statements for the year ended 31 March 2016 are the first financial statements that comply with FRS 102

Section 1A small entities. The date of transition is 1 April 2014.

The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those

previously used.

The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to

these financial statements.