Alfreton Park Veterinary Hospital Limit - Accounts to registrar (filleted) - small 18.2

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2018 TO 30 APRIL 2018

FOR

ALFRETON PARK VETERINARY HOSPITAL

LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

Chartered Certified Accountants' Report

9

DIRECTORS:

A S Levy

J W H Smithers

K L Morris

SECRETARY:

A S Levy

REGISTERED OFFICE:

4 Mowat Industrial Estate

Sandown Road

Watford

WD24 7UY

BUSINESS ADDRESS:

216 King Street

Alfreton

Derbyshire

DE55 7DF

REGISTERED NUMBER:

07556087 (England and Wales)

ACCOUNTANTS:

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

The directors present their report with the financial statements of the company for the period 1 April 2018 to 30 April 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of a veterinary practice.

TRADING

The company hived up trade to Medivet Group Limited on 1st May 2018.

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS

A S Levy , J W H Smithers and K L Morris were appointed as directors after 30 April 2018 but prior to the date of this report.

Mrs C Hopkinson , M L Ingram and N B Pine ceased to be directors after 30 April 2018 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

A S Levy - Secretary

15 January 2019

FIXED ASSETS

Intangible assets

5

266,000

273,600

Tangible assets

6

76,767

79,229

342,767

352,829

CURRENT ASSETS

Stocks

65,711

78,289

Debtors

7

108,844

58,441

Cash at bank and in hand

281,255

302,606

455,810

439,336

CREDITORS

Amounts falling due within one year

8

261,994

270,350

NET CURRENT ASSETS

193,816

168,986

TOTAL ASSETS LESS CURRENT LIABILITIES

536,583

521,815

PROVISIONS FOR LIABILITIES

9

12,373

12,807

NET ASSETS

524,210

509,008

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

523,910

508,708

SHAREHOLDERS' FUNDS

524,210

509,008

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2018 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.

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 15 January 2019 and were signed on its behalf by:

A S Levy - Director

1.	STATUTORY INFORMATION

Alfreton Park Veterinary Hospital Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

On 1st May 2018 the company was sold to Medivet Group Limited and the trade was hived up.

These accounts have been prepared on the basis of values expected to be realised on the hiving up of the trade.

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

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 (2018 - 31 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 30 April 2018

912,000

AMORTISATION

At 1 April 2018

638,400

Amortisation for period

7,600

At 30 April 2018

646,000

NET BOOK VALUE

At 30 April 2018

266,000

At 31 March 2018

273,600

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

and 30 April 2018

184,495

27,248

1,777

38,770

252,290

DEPRECIATION

At 1 April 2018

128,509

22,707

1,580

20,265

173,061

Charge for period

1,555

127

9

771

2,462

At 30 April 2018

130,064

22,834

1,589

21,036

175,523

NET BOOK VALUE

At 30 April 2018

54,431

4,414

188

17,734

76,767

At 31 March 2018

55,986

4,541

197

18,505

79,229

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

31.3.18

£

£

Trade debtors

27,578

20,678

Directors' current accounts

12,570

-

Prepayments

68,696

37,763

108,844

58,441

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

31.3.18

£

£

Trade creditors

81,444

69,614

Tax

68,195

62,220

Social security and other taxes

-

11,653

VAT

76,072

52,736

Other creditors

4,246

3,045

Directors' current accounts

-

27,497

Accrued expenses

32,037

43,585

261,994

270,350

9.	PROVISIONS FOR LIABILITIES

30.4.18

31.3.18

£

£

Deferred tax

12,373

12,807

Deferred

tax

£

Balance at 1 April 2018

12,807

Credit to Income Statement during period

(434

)

Balance at 30 April 2018

12,373

10.	POST BALANCE SHEET EVENTS

On 1st May 2018 the company was sold to Medivet Group Limited and the trade was hived up on that date.

11.	ULTIMATE CONTROLLING PARTY

The immediate controlling party is Medivet Group Ltd and the ultimate controlling party is Medivet Partnership LLP.

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 Income Statement and certain other primary statements and the

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

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Alfreton Park Veterinary Hospital Limited for the period ended 30 April 2018 which comprise the Income

Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Alfreton Park Veterinary Hospital Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Alfreton Park Veterinary Hospital Limited and state those matters that we have agreed to state to the Board of Directors of Alfreton Park Veterinary Hospital Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alfreton Park Veterinary Hospital 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 Alfreton Park Veterinary Hospital Limited. You consider that Alfreton Park Veterinary Hospital Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Alfreton Park Veterinary Hospital 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.

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

15 January 2019