Forest House Vets Limited - Period Ending 2014-03-31

Registration number: 05168354

Forest House Vets Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Forest House Vets Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

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 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Forest House Vets Limited
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Forest House Vets Limited for the year ended 31 March 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Forest House Vets 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 Forest House Vets Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Forest House Vets Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Forest House Vets 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 Forest House Vets Limited. You consider that Forest House Vets 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 Forest House Vets 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.

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

Darnbrough & Co Ltd
8 York Place
Knaresborough
North Yorkshire
HG5 0AA

30 October 2014

Page 1

Forest House Vets Limited
(Registration number: 05168354)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					5,860			17,580
Tangible fixed assets					298,573			310,143
					304,433			327,723
Current assets
Stocks					35,808			38,024
Debtors					102,153			91,402
Cash at bank and in hand					26,820			24,899
					164,781			154,325
Creditors: Amounts falling due within one year					(98,140)			(96,978)
Net current assets					66,641			57,347
Total assets less current liabilities					371,074			385,070
Creditors: Amounts falling due after more than one year					(12,932)			(37,998)
Net assets					358,142			347,072
Capital and reserves
Called up share capital		4			1,000			1,000
Revaluation reserve					62,763			62,763
Profit and loss account					294,379			283,309
Shareholders' funds					358,142			347,072

For the year ending 31 March 2014 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 22 October 2014 and signed on its behalf by:

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Forest House Vets Limited
(Registration number: 05168354)
Abbreviated Balance Sheet at 31 March 2014
......... continued

.........................................
Mr Jonathan Robert Mills
Director

.........................................
Miss Marrianne Elizabeth Griffiths
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Forest House Vets Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... 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 April 2008).

Turnover

Turnover represents fees invoiced (net of VAT)

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised over its estimated useful life of 10 years.

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	10% on cost

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
Plant and machinery	25% on reducing balance
Fixtures and Fittings	25% on reducing balance
Computer Equipment	25% on reducing balance

Stock

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

Hire purchase and leasing

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. They are depreciated over their estimated useful lives.

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.

Page 4

Forest House Vets Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2013		117,200			412,197			529,397
Additions		-			5,051			5,051
At 31 March 2014		117,200			417,248			534,448
Depreciation
At 1 April 2013		99,620			102,054			201,674
Charge for the year		11,720			16,621			28,341
At 31 March 2014		111,340			118,675			230,015
Net book value
At 31 March 2014		5,860			298,573			304,433
At 31 March 2013		17,580			310,143			327,723

3

Creditors

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

		2014 £			2013 £
Amounts falling due after more than one year		12,033			34,932

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

Page 5