Darley House Veterinary Centre Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05862755 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2018

FOR

DARLEY HOUSE VETERINARY CENTRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J W Nolan

REGISTERED OFFICE:

19-25 Peel Street

Farnworth

Bolton

Lancashire

BL4 8AA

REGISTERED NUMBER:

05862755 (England and Wales)

ACCOUNTANTS:

KAY JOHNSON GEE LLP

1 City Road East

Manchester

M15 4PN

FIXED ASSETS

Intangible assets

4

3,562

-

Tangible assets

5

25,239

28,328

28,801

28,328

CURRENT ASSETS

Stocks

30,260

32,475

Debtors

6

173,410

39,738

Cash at bank and in hand

103,513

84,254

307,183

156,467

CREDITORS

Amounts falling due within one year

7

116,674

122,513

NET CURRENT ASSETS

190,509

33,954

TOTAL ASSETS LESS CURRENT LIABILITIES

219,310

62,282

PROVISIONS FOR LIABILITIES

4,374

5,982

NET ASSETS

214,936

56,300

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

214,836

56,200

SHAREHOLDERS' FUNDS

214,936

56,300

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the director on 20th March 2019 and were signed by:

M J W Nolan - Director

1.	STATUTORY INFORMATION

Darley House Veterinary Centre Limited is a private company limited by shares, incorporated in England and Wales,

registration number 05862755. The address of the registered office and principal place of business is 19-25 Peel Street,

Farnworth, Bolton, BL4 8AA.

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 from a contract to provide goods or services is recognised in the period in which the good or services are

provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006 has been fully amortised over its

useful economic life.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition

necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using

either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures & Fittings

-

15% Reducing Balance

Motor vehicles

-

25% Reducing Balance

Office Equipment

-

25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate,

or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in

profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost

of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective

interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be

immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective

interest method unless the effect of discounting would be immaterial, in which case they stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st September 2017

233,450

-

233,450

Additions

-

4,453

4,453

At 31st August 2018

233,450

4,453

237,903

AMORTISATION

At 1st September 2017

233,450

-

233,450

Charge for year

-

891

891

At 31st August 2018

233,450

891

234,341

NET BOOK VALUE

At 31st August 2018

-

3,562

3,562

At 31st August 2017

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st September 2017

56,407

21,607

10,223

88,237

Additions

-

-

2,961

2,961

At 31st August 2018

56,407

21,607

13,184

91,198

DEPRECIATION

At 1st September 2017

38,671

13,748

7,490

59,909

Charge for year

2,661

1,965

1,424

6,050

At 31st August 2018

41,332

15,713

8,914

65,959

NET BOOK VALUE

At 31st August 2018

15,075

5,894

4,270

25,239

At 31st August 2017

17,736

7,859

2,733

28,328

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

25,079

35,496

Other debtors

148,331

4,242

173,410

39,738

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

39,149

35,042

Taxation and social security

71,198

67,490

Other creditors

6,327

19,981

116,674

122,513

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class

Nominal Value:

2018

2017

£

£

45

Ordinary A

£1

45

45

45

Ordinary B

£1

45

45

5

Ordinary C

£1

5

5

5

Ordinary D

£1

5

5

100

100