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REGISTERED NUMBER: 08003735 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st May 2022

for

The Mayne Veterinary Clinic Ltd

The Mayne Veterinary Clinic Ltd (Registered number: 08003735)






Contents of the Financial Statements
for the Year Ended 31st May 2022




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


The Mayne Veterinary Clinic Ltd (Registered number: 08003735)

Abridged Balance Sheet
31st May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 105,432 100,801

CURRENT ASSETS
Stocks 34,051 33,102
Debtors 37,263 36,984
Cash at bank 196,072 159,431
267,386 229,517
CREDITORS
Amounts falling due within one year 99,218 103,477
NET CURRENT ASSETS 168,168 126,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,600

226,841

PROVISIONS FOR LIABILITIES 18,353 17,366
NET ASSETS 255,247 209,475

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 255,147 209,375
SHAREHOLDERS' FUNDS 255,247 209,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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 Mayne Veterinary Clinic Ltd (Registered number: 08003735)

Abridged Balance Sheet - continued
31st May 2022


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 31st May 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th August 2022 and were signed on its behalf by:





Mrs C L Mayne - Director


The Mayne Veterinary Clinic Ltd (Registered number: 08003735)

Notes to the Financial Statements
for the Year Ended 31st May 2022

1. STATUTORY INFORMATION

The Mayne Veterinary Clinic Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08003735

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to receive payment is established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% Straight line

The Mayne Veterinary Clinic Ltd (Registered number: 08003735)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


The Mayne Veterinary Clinic Ltd (Registered number: 08003735)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2022

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2021 - 16 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2021 216,874
Additions 32,078
At 31st May 2022 248,952
DEPRECIATION
At 1st June 2021 116,073
Charge for year 27,447
At 31st May 2022 143,520
NET BOOK VALUE
At 31st May 2022 105,432
At 31st May 2021 100,801