CherrydownVets Ltd. - Abbreviated accounts 16.1

REGISTERED NUMBER: 06229965 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1 May 2015 to 20 July 2016

for

CherrydownVets Ltd.

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P D Coxon

Ms L V Hill

REGISTERED OFFICE:

Linnaeus

Highlands Road

Shirley

Solihull

West Midlands

B90 4NH

REGISTERED NUMBER:

06229965 (England and Wales)

ACCOUNTANTS:

Berg Kaprow Lewis LLP

Chartered Accountants

Heydon Lodge

Flint Cross

Newmarket Road

Royston

Hertfordshire

SG8 7PN

FIXED ASSETS

Intangible assets

2

74,056

187,088

Tangible assets

3

72,629

83,447

146,685

270,535

CURRENT ASSETS

Stocks

31,065

55,100

Debtors

2,982,304

173,216

Cash at bank and in hand

102,775

1,942,524

3,116,144

2,170,840

CREDITORS

Amounts falling due within one year

619,704

439,350

NET CURRENT ASSETS

2,496,440

1,731,490

TOTAL ASSETS LESS CURRENT LIABILITIES

2,643,125

2,002,025

CREDITORS

Amounts falling due after more than one year

(75,479

)

(82,018

)

PROVISIONS FOR LIABILITIES

(7,477

)

(12,118

)

NET ASSETS

2,560,169

1,907,889

CAPITAL AND RESERVES

Called up share capital

4

1,200

1,200

Profit and loss account

2,558,969

1,906,689

SHAREHOLDERS' FUNDS

2,560,169

1,907,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 20 July 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 20 July 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 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 Board of Directors on 18 April 2017 and were signed on its behalf by:

P D Coxon - 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).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. Income in respect of

the sale of vaccination programmes is recognised evenly over the estimated average life of the respective

animals of seven years.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, 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.

Short leasehold

-

straight line over the lease term

Plant and machinery

-

20% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

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

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 20 July 2016

935,438

AMORTISATION

At 1 May 2015

748,350

Amortisation for period

113,032

At 20 July 2016

861,382

NET BOOK VALUE

At 20 July 2016

74,056

At 30 April 2015

187,088

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

242,286

Additions

52,083

Disposals

(2,420

)

At 20 July 2016

291,949

DEPRECIATION

At 1 May 2015

158,839

Charge for period

62,751

Eliminated on disposal

(2,270

)

At 20 July 2016

219,320

NET BOOK VALUE

At 20 July 2016

72,629

At 30 April 2015

83,447

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

as restated

£

£

1,200

Ordinary

£1

1,200

1,000

NIL

'A' Ordinary

£1

-

200

1,200

1,200

On 20 July 2016 the 200 A Ordinary shares were reclassified as Ordinary shares.

5.	ULTIMATE PARENT COMPANY

Linnaeus Group Bidco Limited is regarded by the directors as being the company's ultimate parent company.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 20 July 2016 and the year

ended 30 April 2015:

2016

2015

as restated

£

£

J N G Nurse BVSc MRCVS and Mrs R Nurse RVN

Balance outstanding at start of period

12,813

-

Amounts advanced

474,220

144,716

Amounts repaid

(481,321

)

(131,903

)

Balance outstanding at end of period

5,712

12,813