The Riverside Veterinary Practice Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04865749 (England and Wales)

THE RIVERSIDE VETERINARY PRACTICE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs J Creese

REGISTERED OFFICE:

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

REGISTERED NUMBER:

04865749 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Boston)

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

FIXED ASSETS

Intangible assets

4

13,500

15,750

Tangible assets

5

43,927

40,243

57,427

55,993

CURRENT ASSETS

Stocks

25,498

25,916

Debtors

20,612

19,958

Cash at bank and in hand

95,775

110,033

141,885

155,907

CREDITORS

Amounts falling due within one year

125,462

161,930

NET CURRENT ASSETS/(LIABILITIES)

16,423

(6,023

)

TOTAL ASSETS LESS CURRENT LIABILITIES

73,850

49,970

PROVISIONS FOR LIABILITIES

8,470

7,886

NET ASSETS

65,380

42,084

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

65,280

41,984

SHAREHOLDERS' FUNDS

65,380

42,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 November 2017 and were signed by:

Mrs J Creese - Director

1.	STATUTORY INFORMATION

The Riverside Veterinary Practice Ltd is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Surgery Equipment

-

10% on reducing balance

Computer Equipment

-

50% on cost and 20% on cost

Office Equipment

-

10% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

and 31 August 2017

45,000

AMORTISATION

At 1 September 2016

29,250

Amortisation for year

2,250

At 31 August 2017

31,500

NET BOOK VALUE

At 31 August 2017

13,500

At 31 August 2016

15,750

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

104,298

Additions

8,146

At 31 August 2017

112,444

DEPRECIATION

At 1 September 2016

64,055

Charge for year

4,462

At 31 August 2017

68,517

NET BOOK VALUE

At 31 August 2017

43,927

At 31 August 2016

40,243