Kings Bounty Equine Practice Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08634181 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 August 2016

for

Kings Bounty Equine Practice Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Ms J Palliser MRVCS

REGISTERED OFFICE:

Kings Bounty

Church Street

Binsted

Alton

Hampshire

GU34 4NX

REGISTERED NUMBER:

08634181 (England and Wales)

ACCOUNTANTS:

Poolemead Accountants (Winchester) Ltd

31 Basepoint Business Centre

1 Winnall Valley Road

Winchester

Hampshire

SO23 0LD

FIXED ASSETS

Intangible assets

2

84,000

96,000

Tangible assets

3

89,132

98,234

173,132

194,234

CURRENT ASSETS

Stocks

18,025

20,732

Debtors

38,304

36,355

Prepayments and accrued income

4,060

2,187

Cash at bank and in hand

82,252

91,006

142,641

150,280

CREDITORS

Amounts falling due within one year

142,900

136,576

NET CURRENT (LIABILITIES)/ASSETS

(259

)

13,704

TOTAL ASSETS LESS CURRENT
LIABILITIES

172,873

207,938

CREDITORS

Amounts falling due after more than
one year

(62,676

)

(100,842

)

PROVISIONS FOR LIABILITIES

(8,947

)

(9,973

)

NET ASSETS

101,250

97,123

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

101,150

97,023

SHAREHOLDERS' FUNDS

101,250

97,123

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 24 March 2017 and were signed by:

Ms J Palliser MRVCS - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the

company qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Depreciation is charged in the year of purchase but not in the year of disposal.

Stocks

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

for obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated

but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the

relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

120,000

AMORTISATION

At 1 September 2015

24,000

Amortisation for year

12,000

At 31 August 2016

36,000

NET BOOK VALUE

At 31 August 2016

84,000

At 31 August 2015

96,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

144,871

Additions

16,000

At 31 August 2016

160,871

DEPRECIATION

At 1 September 2015

46,637

Charge for year

25,102

At 31 August 2016

71,739

NET BOOK VALUE

At 31 August 2016

89,132

At 31 August 2015

98,234

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

100

Ordinary shares of one pound

£1

100