XL Farmcare South East Limited Filleted accounts for Companies House (small and micro)

XL FARMCARE SOUTH EAST LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07891251

XL Farmcare South East Limited

Filleted Unaudited Abridged Financial Statements

28 February 2018

XL Farmcare South East Limited

Abridged Statement of Financial Position

28 February 2018

	2018		2017
Note	£	£	£

Current assets

Stocks	150,385	149,496
Debtors	1,269	1,188
Cash at bank and in hand	75,094	24,688
	---------	---------
	226,748	175,372

Creditors: amounts falling due within one year	202,993		155,902
	---------		---------
Net current assets		23,755	19,470
		--------	--------
Total assets less current liabilities		23,755	19,470
		--------	--------
Net assets		23,755	19,470
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	23,655	19,370
	--------	--------
Shareholders funds	23,755	19,470
	--------	--------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.

XL Farmcare South East Limited

Abridged Statement of Financial Position (continued)

28 February 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 27 October 2018 , and are signed on behalf of the board by:

Mr. W J Pepper BVSc CertCHP MRCVS

Director

Company registration number: 07891251

XL Farmcare South East Limited

Notes to the Abridged Financial Statements

Year ended 28 February 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 Cliffe High Street, Lewes, East Sussex, BN7 2AH.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Events after the end of the reporting period

There were no material events up to 27 October 2018, being the date of the approval of the financial statements by the Board.

5. Related party transactions

As at the period end, £600 (2017 £600) was owed to veterinary practices within which the directors held interests. During the year the company made payments totalling £398,802 (2017 £350,614) to associated veterinary practices. These payments were for professional services rendered and which were calculated using normal commercial rates.

6. Controlling party

Throughout the current period, the company was controlled by the directors by virtue of their ability to act in concert in respect of the operating and financial policies of the company.