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 2020

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 Melville

Chameleon Henley Ltd

REGISTERED OFFICE:

17 East Street

Wareham

BH20 4NN

REGISTERED NUMBER:

04881969 (England and Wales)

ACCOUNTANTS:

Accountancy Online Limited

6 Elsley Road

Tilehurst

Reading

RG31 6RN

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 2020 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

6 Elsley Road

Tilehurst

Reading

RG31 6RN

4 December 2020

FIXED ASSETS

Intangible assets

4

70,533

84,879

Tangible assets

5

378,195

371,320

448,728

456,199

CURRENT ASSETS

Stocks

26,198

34,286

Debtors

7,258

23,918

Cash at bank and in hand

109,187

85,650

142,643

143,854

CREDITORS

Amounts falling due within one year

(141,016

)

(142,426

)

NET CURRENT ASSETS

1,627

1,428

TOTAL ASSETS LESS CURRENT LIABILITIES

450,355

457,627

CREDITORS

Amounts falling due after more than one year

6

(209,115

)

(222,863

)

PROVISIONS FOR LIABILITIES

8

(5,073

)

(3,610

)

NET ASSETS

236,167

231,154

CAPITAL AND RESERVES

Called up share capital

9

4,500

4,500

Revaluation reserve

10

139,373

139,373

Retained earnings

10

92,294

87,281

SHAREHOLDERS' FUNDS

236,167

231,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2020 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 and authorised for issue on 4 December 2020 and were signed on its behalf by:

J R Ball - Director

P Melville - Director

Chameleon Henley Ltd - 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 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.

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.

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 14 (2019 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2019

and 31 July 2020

270,000

AMORTISATION

At 1 August 2019

185,121

Amortisation for year

14,346

At 31 July 2020

199,467

NET BOOK VALUE

At 31 July 2020

70,533

At 31 July 2019

84,879

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2019

485,295

Additions

14,625

At 31 July 2020

499,920

DEPRECIATION

At 1 August 2019

113,975

Charge for year

7,750

At 31 July 2020

121,725

NET BOOK VALUE

At 31 July 2020

378,195

At 31 July 2019

371,320

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

Totals

£

COST

At 1 August 2019

42,594

Additions

14,376

At 31 July 2020

56,970

DEPRECIATION

At 1 August 2019

26,086

Charge for year

5,924

At 31 July 2020

32,010

NET BOOK VALUE

At 31 July 2020

24,960

At 31 July 2019

16,508

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2020

2019

£

£

Repayable by instalments

Bank loans more 5 yr by instal

62,176

28,649

7.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

183,228

149,701

Hire purchase contracts

22,955

14,678

206,183

164,379

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

2020

2019

£

£

Deferred tax

5,073

3,610

Deferred

tax

£

Balance at 1 August 2019

3,610

Charge to Income Statement during year

1,463

Balance at 31 July 2020

5,073

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

4,500

Ordinary A

£1

4,500

4,500

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 August 2019

87,281

139,373

226,654

Profit for the year

35,013

35,013

Dividends

(30,000

)

(30,000

)

At 31 July 2020

92,294

139,373

231,667

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY