The Pet Health Partnership Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04881969 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2021 TO 30 APRIL 2022

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

Chameleon Henley Ltd

The Alliance Of Independent Veterinary Practices Ltd

C J Chaplin

REGISTERED OFFICE:

6 The Parade

Moorland Way

Upton

Poole

Dorset

BH16 5JS

REGISTERED NUMBER:

04881969 (England and Wales)

ACCOUNTANTS:

Accountancy Online Limited

6 Elsley Road

Tilehurst

Reading

RG31 6RN

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 period ended 30 April 2022 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

28 December 2022

FIXED ASSETS

Intangible assets

4

45,428

56,187

Tangible assets

5

377,859

371,059

423,287

427,246

CURRENT ASSETS

Stocks

35,867

37,879

Debtors

13,659

15,533

Cash at bank and in hand

120,183

187,986

169,709

241,398

CREDITORS

Amounts falling due within one year

(321,353

)

(209,765

)

NET CURRENT (LIABILITIES)/ASSETS

(151,644

)

31,633

TOTAL ASSETS LESS CURRENT LIABILITIES

271,643

458,879

CREDITORS

Amounts falling due after more than one year

(122,553

)

(206,810

)

PROVISIONS FOR LIABILITIES

7

(5,217

)

(4,431

)

NET ASSETS

143,873

247,638

CAPITAL AND RESERVES

Called up share capital

8

4,500

4,500

Revaluation reserve

9

139,373

139,373

Retained earnings

9

-

103,765

SHAREHOLDERS' FUNDS

143,873

247,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2022 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 period ended 30 April 2022 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 28 December 2022 and were signed on its behalf by:

J R Ball - 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

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.

Government grants

Any grants received as part of the Coronavirus Job Retention Scheme (CJRS), the Statutory Sick Pay

(SSP) rebate scheme, Small Business Grant Fund (SBGF) or the Retail, Hospitality and Leisure Grant Fund (RHLGF) are recognised on an accruals basis.

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 period 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 period 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 period was 20 (2021 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2021

and 30 April 2022

270,000

AMORTISATION

At 1 August 2021

213,813

Amortisation for period

10,759

At 30 April 2022

224,572

NET BOOK VALUE

At 30 April 2022

45,428

At 31 July 2021

56,187

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2021

500,473

Additions

11,716

At 30 April 2022

512,189

DEPRECIATION

At 1 August 2021

129,414

Charge for period

4,916

At 30 April 2022

134,330

NET BOOK VALUE

At 30 April 2022

377,859

At 31 July 2021

371,059

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

Totals

£

COST

At 1 August 2021

and 30 April 2022

56,970

DEPRECIATION

At 1 August 2021

38,250

Charge for period

3,510

At 30 April 2022

41,760

NET BOOK VALUE

At 30 April 2022

15,210

At 31 July 2021

18,720

6.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

147,295

166,037

Hire purchase contracts

11,815

16,062

159,110

182,099

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

7.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

5,217

4,431

Deferred

tax

£

Balance at 1 August 2021

4,431

Charge to Income Statement during period

786

Balance at 30 April 2022

5,217

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

4,500

Ordinary A

£1

4,500

4,500

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 August 2021

103,765

139,373

243,138

Profit for the period

55,742

55,742

Dividends

(159,507

)

(159,507

)

At 30 April 2022

-

139,373

139,373

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

11.	RELATED PARTY DISCLOSURES

During the period, total dividends of £159,507 (2021 - £60,000) were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

The controlling party is The Alliance Of Independent Veterinary Practices Ltd .