The Pet Health Partnership Limited - Period Ending 2016-07-31

THE PET HEALTH PARTNERSHIP LIMITED - Company Information

Registration number: 04881969

The Pet Health Partnership Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016

Chaplin Associates (Oxon) Ltd
Gates End
Fairmile
Henley-On-Thames
Oxfordshire
RG9 2JY

The Pet Health Partnership Limited

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2 to 3
Notes to the Abbreviated Accounts	4 to 7

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 7) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Pet Health Partnership Limited
for the Year Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Pet Health Partnership Limited for the year ended 31 July 2016 set out on pages XX from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of The Pet Health Partnership Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Pet Health Partnership Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Pet Health Partnership Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Pet Health Partnership Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Pet Health Partnership Limited. You consider that The Pet Health Partnership Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Pet Health Partnership Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Chaplin Associates (Oxon) Ltd
Gates End
Fairmile
Henley-On-Thames
Oxfordshire
RG9 2JY

22 November 2016

Page 1

The Pet Health Partnership Limited

(Registration number: 04881969)
Abbreviated Balance Sheet as at 31 July 2016

	Note	2016 £	2015 £
Fixed assets
Intangible assets	2	131,625	141,750
Tangible assets	2	49,143	62,533
		180,768	204,283
Current assets
Stocks		28,730	23,196
Debtors		9,317	20,642
Cash at bank and in hand		79,411	64,915
		117,458	108,753
Prepayments and accrued income		685	-
Creditors: Amounts falling due within one year	3	(95,093)	(109,785)
Net current assets/(liabilities)		23,050	(1,032)
Total assets less current liabilities		203,818	203,251
Creditors: Amounts falling due after more than one year	3	(25,068)	(8,342)
Provisions for liabilities		(8,512)	(11,349)
Net assets		170,238	183,560
Capital and reserves
Called up share capital	4	4,500	4,500
Revaluation reserve		139,373	139,373
Profit and loss account		26,365	39,687
Shareholders funds		170,238	183,560

For the year ending 31 July 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.

The notes on pages 4 to 7 form an integral part of these financial statements.
Page 2

The Pet Health Partnership Limited

(Registration number: 04881969)
Abbreviated Balance Sheet as at 31 July 2016

Approved by the Board on 22 November 2016 and signed on its behalf by:

.........................................
Mr Philip John Chaplin
Company secretary and director

.........................................
Mr Peter Melville
Director

.........................................
Mr John Ball
Director

The notes on pages 4 to 7 form an integral part of these financial statements.
Page 3

The Pet Health Partnership Limited

Notes to the Abbreviated Accounts

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015).

Exemption from preparing a cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

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

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

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
Goodwill	20 years 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
Long Leasehold	in accordance with the property
Plant and machinery	25% on reducing balance
Fixtures and fittings	25% on reducing balance
Motor vehicles	25% on reducing balance

Page 4

The Pet Health Partnership Limited

Notes to the Abbreviated Accounts

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.

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 5

The Pet Health Partnership Limited

Notes to the Abbreviated Accounts

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 August 2015	270,000	214,825	484,825
Additions	-	2,242	2,242
At 31 July 2016	270,000	217,067	487,067
Depreciation
At 1 August 2015	128,250	152,292	280,542
Charge for the year	10,125	15,632	25,757
At 31 July 2016	138,375	167,924	306,299
Net book value
At 31 July 2016	131,625	49,143	180,768
At 31 July 2015	141,750	62,533	204,283

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	2016 £	2015 £
Amounts falling due within one year	5,076	12,244
Amounts falling due after more than one year	4,611	8,342
Total secured creditors	9,687	20,586

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary A of £1 each	4,500	4,500	4,500	4,500

Page 6

The Pet Health Partnership Limited

Notes to the Abbreviated Accounts

Related party transactions

Transactions with directors

2016	At 1 August 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 July 2016 £
Mr John Ball
	(2,042)	22,000	-	(25,000)	(5,042)


Mr Peter Melville
	(2,043)	22,000	-	(25,000)	(5,043)


Mr Philip John Chaplin
	-	1,000	-	(11,372)	(10,372)

2015	At 1 August 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 July 2015 £
Mr John Ball
	(20,042)	33,000	-	(15,000)	(2,042)


Mr Peter Melville
	(20,043)	33,000	-	(15,000)	(2,043)


Mr Philip John Chaplin
	(20,043)	20,043	-	-	-

Dividends paid to directors

	2016 £	2015 £
Mr John Ball
Year end dividends	25,000	15,000


Mr Peter Melville
Year end dividends	25,000	15,000

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 7