The Riverside Veterinary Practice Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04865749 (England and Wales)

THE RIVERSIDE VETERINARY PRACTICE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

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

11,250

13,500

Tangible assets

5

48,866

43,927

60,116

57,427

CURRENT ASSETS

Stocks

26,508

25,498

Debtors

29,875

20,612

Cash at bank and in hand

95,934

95,775

152,317

141,885

CREDITORS

Amounts falling due within one year

97,914

125,462

NET CURRENT ASSETS

54,403

16,423

TOTAL ASSETS LESS CURRENT LIABILITIES

114,519

73,850

PROVISIONS FOR LIABILITIES

8,843

8,470

NET ASSETS

105,676

65,380

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

105,576

65,280

SHAREHOLDERS' FUNDS

105,676

65,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 2018 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 15 October 2018 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 14 (2017 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2017

and 31 August 2018

45,000

AMORTISATION

At 1 September 2017

31,500

Amortisation for year

2,250

At 31 August 2018

33,750

NET BOOK VALUE

At 31 August 2018

11,250

At 31 August 2017

13,500

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2017

112,444

Additions

11,606

At 31 August 2018

124,050

DEPRECIATION

At 1 September 2017

68,517

Charge for year

6,667

At 31 August 2018

75,184

NET BOOK VALUE

At 31 August 2018

48,866

At 31 August 2017

43,927