Old Hall Veterinary Centre Limited - Period Ending 2016-11-30

REGISTRAR OF COMPANIES

Registration number: 06303379

Old Hall Veterinary Centre Limited

Unaudited Abbreviated Accounts

30 November 2016
 

Old Hall Veterinary Centre Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

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 Director on the Preparation of the Unaudited Financial Statements of
Old Hall Veterinary Centre Limited
for the Year Ended 30 November 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Old Hall Veterinary Centre Limited for the year ended 30 November 2016 set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a 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 Old Hall Veterinary Centre Limited, as a body, in accordance with the terms of our engagement letter dated 22 April 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Old Hall Veterinary Centre 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 Old Hall Veterinary Centre Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Old Hall Veterinary Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Old Hall Veterinary Centre Limited. You consider that Old Hall Veterinary Centre 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 financial statements of Old Hall Veterinary Centre 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 financial statements.

Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

6 July 2017

Page 1

Old Hall Veterinary Centre Limited
(Registration number: 06303379)
Abbreviated Balance Sheet at 30 November 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					33,173			36,582
Tangible fixed assets					182,915			186,376
					216,088			222,958
Current assets
Stocks					14,948			14,914
Debtors					21,480			11,201
Cash at bank and in hand					43,374			25,253
					79,802			51,368
Creditors: Amounts falling due within one year					(73,613)			(36,479)
Net current assets					6,189			14,889
Total assets less current liabilities					222,277			237,847
Creditors: Amounts falling due after more than one year					(199,881)			(243,368)
Provisions for liabilities					(17,067)			(3,843)
Net assets/(liabilities)					5,329			(9,364)
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					5,327			(9,366)
Shareholders' funds/(deficit)					5,329			(9,364)

For the year ending 30 November 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the director on 6 July 2017

.........................................
H J Gould
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Old Hall Veterinary Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... 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 January 2015).

Turnover

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

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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.

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	5% straight line basis

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
Tenants improvements	2% straight line basis
Plant and machinery	25% on reducing balance basis
Fixtures and fittings	15% on reducing balance basis
Office equipment	33% straight line basis

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.

Page 3

Old Hall Veterinary Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 December 2015		68,333			221,380			289,713
Additions		-			6,313			6,313
At 30 November 2016		68,333			227,693			296,026
Depreciation
At 1 December 2015		31,751			35,004			66,755
Charge for the year		3,409			9,774			13,183
At 30 November 2016		35,160			44,778			79,938
Net book value
At 30 November 2016		33,173			182,915			216,088
At 30 November 2015		36,582			186,376			222,958

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		88,177			88,172
After more than five years not by instalments		63,934			65,421
		152,111			153,593

Page 4

Old Hall Veterinary Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
A Ordinary shares of £1 each		1			1			1			1
B Ordinary shares of £1 each		1			1			1			1
		2			2			2			2

5

Control

The company is controlled by the director who owns 100% of the called up share capital.

Page 5