The Pet Health Partnership Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04881969 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

THE PET HEALTH PARTNERSHIP LIMITED

Page

Company Information

1

Report of the Accountants

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J R Ball

P J Chaplin

P Melville

SECRETARY:

P J Chaplin

REGISTERED OFFICE:

17 East Street

Wareham

BH20 4NN

REGISTERED NUMBER:

04881969 (England and Wales)

ACCOUNTANTS:

Accountancy Online Limited

Albion Dockside Building

Albion Dockside Estate

Hanover Place

Bristol

BS1 6UT

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 year ended 31 July 2018 set out on pages four to twelve 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.

Accountancy Online Limited

Albion Dockside Building

Albion Dockside Estate

Hanover Place

Bristol

BS1 6UT

25 September 2018

FIXED ASSETS

Intangible assets

4

99,225

113,400

Tangible assets

5

379,181

36,857

478,406

150,257

CURRENT ASSETS

Stocks

30,306

33,810

Debtors

17,913

12,864

Cash at bank and in hand

46,799

75,957

95,018

122,631

CREDITORS

Amounts falling due within one year

(115,550

)

(73,090

)

NET CURRENT (LIABILITIES)/ASSETS

(20,532

)

49,541

TOTAL ASSETS LESS CURRENT LIABILITIES

457,874

199,798

CREDITORS

Amounts falling due after more than one year

6

(275,963

)

(47,443

)

PROVISIONS FOR LIABILITIES

8

(4,912

)

(6,938

)

NET ASSETS

176,999

145,417

CAPITAL AND RESERVES

Called up share capital

9

4,500

4,500

Revaluation reserve

10

139,373

139,373

Retained earnings

10

33,126

1,544

SHAREHOLDERS' FUNDS

176,999

145,417

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 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 Board of Directors on 25 September 2018 and were signed on its behalf by:

J R Ball - Director

P Melville - Director

P J Chaplin - Director

1.	STATUTORY INFORMATION

The Pet Health Partnership 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.

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.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of the amounts not invoiced. Turnover in respect of long-term contracts for

on-going services is recognised by reference to the stage of completion.

Goodwill

With the transition to FRS 102 on 1st August 2016 amortisation now can only be amortised over 10 years

starting from 1st August 2015. The policy is now updated to reflect this.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Depreciation

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical

cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss

reserve.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2017

and 31 July 2018

270,000

AMORTISATION

At 1 August 2017

156,600

Amortisation for year

14,175

At 31 July 2018

170,775

NET BOOK VALUE

At 31 July 2018

99,225

At 31 July 2017

113,400

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2017

217,067

Additions

374,408

Disposals

(106,180

)

At 31 July 2018

485,295

DEPRECIATION

At 1 August 2017

180,210

Charge for year

11,721

Eliminated on disposal

(85,817

)

At 31 July 2018

106,114

NET BOOK VALUE

At 31 July 2018

379,181

At 31 July 2017

36,857

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 August 2017

19,244

Additions

23,350

At 31 July 2018

42,594

DEPRECIATION

At 1 August 2017

13,347

Charge for year

7,236

At 31 July 2018

20,583

NET BOOK VALUE

At 31 July 2018

22,011

At 31 July 2017

5,897

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Bank loans more 5 yr by instal

47,313

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

165,325

633

Hire purchase contracts

23,418

4,898

188,743

5,531

Barclays Bank PLC holds a fixed and floating debenture charge over the company's entire property and assets,

present and future.

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

4,912

6,938

Deferred

tax

£

Balance at 1 August 2017

6,938

Credit to Abridged Income Statement during year

(2,026

)

Balance at 31 July 2018

4,912

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

4,500

Ordinary A

£1

4,500

4,500

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 August 2017

1,544

139,373

140,917

Profit for the year

31,582

31,582

At 31 July 2018

33,126

139,373

172,499

11.	RELATED PARTY DISCLOSURES

12.	ULTIMATE CONTROLLING PARTY