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

REGISTERED NUMBER: 07135271 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Vicarage Veterinary Centre Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Dr A Sackx

REGISTERED OFFICE:

52 Church Road

Saxilby

Lincoln

Lincolnshire

LN1 2HJ

REGISTERED NUMBER:

07135271 (England and Wales)

FIXED ASSETS

Intangible assets

4

78,304

85,423

Tangible assets

5

52,696

41,100

131,000

126,523

CURRENT ASSETS

Stocks

17,433

16,537

Debtors

16,427

19,977

Cash at bank

75,573

113,809

109,433

150,323

CREDITORS

Amounts falling due within one year

90,001

144,696

NET CURRENT ASSETS

19,432

5,627

TOTAL ASSETS LESS CURRENT LIABILITIES

150,432

132,150

PROVISIONS FOR LIABILITIES

6

9,707

7,436

NET ASSETS

140,725

124,714

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

140,724

124,713

140,725

124,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 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 22 October 2019 and were signed by:

Dr A Sackx - Director

1.	STATUTORY INFORMATION

Vicarage Veterinary Centre 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis

over its useful economic life of 20 years. It is reviewed for impairment at the end of the first full financial year

following the acquisition and in other periods if events or changes in circumstances indicate that the carrying

value may not be recoverable

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

-

15% 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.

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 9 (2018 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

142,370

AMORTISATION

At 1 April 2018

56,947

Amortisation for year

7,119

At 31 March 2019

64,066

NET BOOK VALUE

At 31 March 2019

78,304

At 31 March 2018

85,423

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

82,802

Additions

18,816

At 31 March 2019

101,618

DEPRECIATION

At 1 April 2018

41,702

Charge for year

7,220

At 31 March 2019

48,922

NET BOOK VALUE

At 31 March 2019

52,696

At 31 March 2018

41,100

6.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

9,707

7,436

Deferred

tax

£

Balance at 1 April 2018

7,436

Provided during year

2,271

Balance at 31 March 2019

9,707

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed £35,590 (2018: £87,085) to the director, Ms A Sackx.