Westpoint Veterinary Services (South East) Limited - Period Ending 2020-06-30

Westpoint Veterinary Services (South East) Limited

Profit and Loss Account for the Year Ended 30 June 2020

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

Westpoint Veterinary Services (South East) Limited

(Registration number: SC277099)
Balance Sheet as at 30 June 2020

	Note	2020 £	2019 £
Fixed assets
Investments	4	104,138	104,138
Current assets
Debtors: Amounts falling due after more than one year	5	300	300
Total assets less current liabilities		104,438	104,438
Creditors: Amounts falling due after more than one year	6	(104,138)	(104,138)
Net assets		300	300
Capital and reserves
Called up share capital	7	300	300
Total equity		300	300

For the financial year ending 30 June 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 12 June 2021 and signed on its behalf by:
 

.........................................

J C Malone
Director

Westpoint Veterinary Services (South East) Limited

Notes to the Financial Statements for the Year Ended 30 June 2020

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
171 Mayfield Road
Edinburgh
EH9 3AZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, together with the facilities available to the company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
 

Westpoint Veterinary Services (South East) Limited

Notes to the Financial Statements for the Year Ended 30 June 2020

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

	2020  No.	2019  No.
Directors	2	2

4	Investments in subsidiaries, joint ventures and associates

	2020 £	2019 £
Investments in subsidiaries	104,138	104,138

Subsidiaries	£
Cost and net book value
At 1 July 2019 and at 30 June 2020	104,138

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held
			2020	2019

Subsidiary undertakings
Stock1st Limited	England and Wales	Ordinary	100%	100%

The principal activity of Stock1st Limited is that of a dormant company.

Westpoint Veterinary Services (South East) Limited

Notes to the Financial Statements for the Year Ended 30 June 2020

5

Debtors

	2020 £	2019 £
Amounts owed by group undertakings	300	300
Less non-current portion	(300)	(300)
	-	-

Details of non-current trade and other debtors

£300 (2019 - £300) of amounts owed by group undertakings is classified as non current.

6

Creditors

	2020 £	2019 £
Due after one year
Amounts owed to group undertakings	104,138	104,138

7	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary A shares of £1 each	59	59	59	59
Ordinary B shares of £1 each	59	59	59	59
Ordinary C shares of £1 each	161	161	161	161
Ordinary D shares of £1 each	7	7	7	7
Ordinary E shares of £1 each	7	7	7	7
Ordinary F shares of £1 each	7	7	7	7
	300	300	300	300

Rights, preferences and restrictions

Each class of share ranks pari passu, except in respect of dividend rights.

8	Contingent liabilities

The company is bound by an intra-group cross guarantee in respect of bank debt with other members of the group headed by its ultimate parent undertaking, VetPartners Group Limited. The amount guaranteed is £524,090,567 (2019 - £429,500,000).

Westpoint Veterinary Services (South East) Limited

Notes to the Financial Statements for the Year Ended 30 June 2020

9	Parent and ultimate parent undertaking

The company's immediate parent is Westpoint Veterinary Group Limited, incorporated in England and Wales, whose ultimate controlling parent undertaking was BC European Capital X, a collection of Limited partnerships with no single controlling party.

The parent of the largest group in which these financial statements are consolidated is Scooby Bidco Limited, incorporated in England and Wales.

The address of Scooby Bidco Limited is:
Leeman House
Station Business Park
Holgate Park Drive
York
YO26 4GB

The parent of the smallest group in which these financial statements are consolidated is VetPartners Group Limited, incorporated in England and Wales.

The address of VetPartners Group Limited is:
Leeman House
Station Business Park
Holgate Park Drive
York
YO26 4GB