Ewell Veterinary Centre Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10200189 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 26 MAY 2016 TO 31 MAY 2017

FOR

EWELL VETERINARY CENTRE LTD

Page

Company Information

1

Report of the Accountants

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J R Ball

P Melville

REGISTERED OFFICE:

4 Langton Avenue

Ewell

Epsom

Surrey

KT17 1LD

REGISTERED NUMBER:

10200189 (England and Wales)

ACCOUNTANTS:

Chaplin Associates (Oxon) Ltd

Gates End

Fairmile

Henley On Thames

Oxfordshire

RG9 2JY

TAX ADVISORS:

R S Porter & Co Limited

Albion Dockside Building

Hanover Place

Bristol

BS1 6UT

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 31 May 2017 set out on pages four to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Chaplin Associates (Oxon) Ltd

Gates End

Fairmile

Henley On Thames

Oxfordshire

RG9 2JY

26 October 2017

FIXED ASSETS

Intangible assets

4

366,000

Tangible assets

5

15,469

381,469

CURRENT ASSETS

Stocks

20,402

Debtors

9,158

Cash at bank and in hand

46,907

76,467

CREDITORS

Amounts falling due within one year

(126,690

)

NET CURRENT LIABILITIES

(50,223

)

TOTAL ASSETS LESS CURRENT LIABILITIES

331,246

CREDITORS

Amounts falling due after more than one year

(327,319

)

PROVISIONS FOR LIABILITIES

7

(2,939

)

NET ASSETS

988

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

9

888

SHAREHOLDERS' FUNDS

988

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 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 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 period ended 31 May 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 Board of Directors on 26 October 2017 and were signed on its behalf by:

J R Ball - Director

1.	STATUTORY INFORMATION

Ewell Veterinary Centre 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

As a departure from FRS 102 Section 19 the directors have not amortised goodwill in these financial

statements.This treatment is adopted on the basis of the true and fair override concept in the preparation of

financial statements. Veterinary businesses tend to increase in value over time and amortisation of goodwill

would be in conflict with this underlying commercial reality.

The directors will carry out a regular impairment review to confirm whether the current value of goodwill is at

least equal to its carrying value. If not, the goodwill will be written down to the lower value determined in the

impairment review.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

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.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 26 May 2016

and 31 May 2017

366,000

NET BOOK VALUE

At 31 May 2017

366,000

At 25 May 2016

366,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

Transfer to ownership

20,623

At 31 May 2017

20,623

DEPRECIATION

Charge for period

5,154

At 31 May 2017

5,154

NET BOOK VALUE

At 31 May 2017

15,469

6.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank loans

51,747

Amounts falling due between one and two years:

Bank loans - 1-2 years

17,365

7.	PROVISIONS FOR LIABILITIES

£

Deferred tax

2,939

Deferred

tax

£

Charge to Abridged Income Statement during period

2,939

Balance at 31 May 2017

2,939

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 were issued during the period for cash of £ 100 .

9.

RESERVES

Retained

earnings

£

Profit for the period

90,888

Dividends

(90,000

)

At 31 May 2017

888

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 May 2017:

£

J R Ball

Balance outstanding at start of period

-

Amounts advanced

311,891

Amounts repaid

(455,853

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(143,962

)

P Melville

Balance outstanding at start of period

-

Amounts advanced

302,405

Amounts repaid

(464,172

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(161,767

)

11.	RELATED PARTY DISCLOSURES

During the period, total dividends of £90,000 were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY