Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-302021-05-01falseNo description of principal activity56truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC591163 2021-05-01 2022-04-30 SC591163 2020-05-01 2021-04-30 SC591163 2022-04-30 SC591163 2021-04-30 SC591163 c:Director1 2021-05-01 2022-04-30 SC591163 c:RegisteredOffice 2021-05-01 2022-04-30 SC591163 d:Buildings 2021-05-01 2022-04-30 SC591163 d:Buildings 2022-04-30 SC591163 d:Buildings 2021-04-30 SC591163 d:Buildings d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC591163 d:PlantMachinery 2021-05-01 2022-04-30 SC591163 d:PlantMachinery 2022-04-30 SC591163 d:PlantMachinery 2021-04-30 SC591163 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC591163 d:MotorVehicles 2021-05-01 2022-04-30 SC591163 d:MotorVehicles 2022-04-30 SC591163 d:MotorVehicles 2021-04-30 SC591163 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC591163 d:OfficeEquipment 2021-05-01 2022-04-30 SC591163 d:OfficeEquipment 2022-04-30 SC591163 d:OfficeEquipment 2021-04-30 SC591163 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC591163 d:OtherPropertyPlantEquipment 2021-05-01 2022-04-30 SC591163 d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 SC591163 d:Goodwill 2021-05-01 2022-04-30 SC591163 d:Goodwill 2022-04-30 SC591163 d:Goodwill 2021-04-30 SC591163 d:CurrentFinancialInstruments 2022-04-30 SC591163 d:CurrentFinancialInstruments 2021-04-30 SC591163 d:Non-currentFinancialInstruments 2022-04-30 SC591163 d:Non-currentFinancialInstruments 2021-04-30 SC591163 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 SC591163 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 SC591163 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 SC591163 d:Non-currentFinancialInstruments d:AfterOneYear 2021-04-30 SC591163 d:ShareCapital 2022-04-30 SC591163 d:ShareCapital 2021-04-30 SC591163 d:RetainedEarningsAccumulatedLosses 2022-04-30 SC591163 d:RetainedEarningsAccumulatedLosses 2021-04-30 SC591163 c:OrdinaryShareClass1 2021-05-01 2022-04-30 SC591163 c:OrdinaryShareClass1 2022-04-30 SC591163 c:FRS102 2021-05-01 2022-04-30 SC591163 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 SC591163 c:FullAccounts 2021-05-01 2022-04-30 SC591163 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 SC591163 d:Goodwill d:OwnedIntangibleAssets 2021-05-01 2022-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC591163










HEATHER VETS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

 
HEATHER VETS LIMITED
 

COMPANY INFORMATION


DIRECTOR
Dr H McCabe 




REGISTERED NUMBER
SC591163



REGISTERED OFFICE
150 High Street
Newburgh

Cupar

Fife

KY14 6DZ




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
HEATHER VETS LIMITED
REGISTERED NUMBER: SC591163

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2022

2022
2021
£
£

Fixed assets
  

Intangible assets
 4 
27,000
31,500

Tangible assets
 5 
48,572
52,491

  
75,572
83,991

Current assets
  

Stocks
  
13,595
4,600

Debtors: amounts falling due within one year
 6 
2,210
4,122

Bank and cash balances
  
14,297
23,547

  
30,102
32,269

Creditors: amounts falling due within one year
 7 
(40,409)
(58,868)

Net current liabilities
  
 
 
(10,307)
 
 
(26,599)

Total assets less current liabilities
  
65,265
57,392

Creditors: amounts falling due after more than one year
 8 
(15,754)
(20,317)

Provisions for liabilities
  

Deferred tax
  
(3,466)
(3,378)

  
 
 
(3,466)
 
 
(3,378)

Net assets
  
46,045
33,697


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
46,044
33,696

  
46,045
33,697

Page 1

 
HEATHER VETS LIMITED
REGISTERED NUMBER: SC591163

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 August 2022.




Dr H McCabe
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
HEATHER VETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1.


GENERAL INFORMATION

Heather Vets Limited is a private company, limited by shares, domiciled in Scotland with registration number SC591163. The registered office is 150 High Street, Newburgh, Cupar, Fife, KY14 6DZ.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Page 3

 
HEATHER VETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

During the year the business was in receipt of the following revenue grants in relation to the COVID-19 pandemic:
Coronavirus Business Interruption Loan Scheme (CBILS), which is recognised on a monthly basis, based on lender charges incurred in the first 12 months of the loan, covered by the Government through a Business Interruption Payment.

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
HEATHER VETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

INTANGIBLE ASSETS

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, SELECT OR ENTER METHOD.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
20%
straight line
Tenant's improvements
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
HEATHER VETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2021 - 6).

Page 6

 
HEATHER VETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

4.


INTANGIBLE ASSETS




Goodwill

£



Cost


At 1 May 2021
45,000



At 30 April 2022

45,000



Amortisation


At 1 May 2021
13,500


Charge for the year on owned assets
4,500



At 30 April 2022

18,000



Net book value



At 30 April 2022
27,000



At 30 April 2021
31,500



Page 7

 
HEATHER VETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

5.


TANGIBLE FIXED ASSETS





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2021
34,710
23,948
-
15,149
73,807


Additions
-
650
2,050
-
2,700



At 30 April 2022

34,710
24,598
2,050
15,149
76,507



Depreciation


At 1 May 2021
-
12,301
-
9,015
21,316


Charge for the year on owned assets
-
3,076
513
3,030
6,619



At 30 April 2022

-
15,377
513
12,045
27,935



Net book value



At 30 April 2022
34,710
9,221
1,537
3,104
48,572



At 30 April 2021
34,710
11,647
-
6,134
52,491


6.


DEBTORS

2022
2021
£
£


Trade debtors
1,667
2,881

Prepayments and accrued income
543
1,241

2,210
4,122



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022
2021
£
£

Bank loans
4,600
2,683

Trade creditors
6,076
7,766

Other taxation and social security
19,535
15,583

Other creditors
9,301
31,889

Accruals and deferred income
897
947

40,409
58,868


Page 8

 
HEATHER VETS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022
2021
£
£

Bank loans
15,754
20,317

15,754
20,317


The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2022
2021
£
£


Repayable by instalments
-
1,917

-
1,917

Amounts falling due after 5 years relate wholly to the Coronavirus Bounceback Loan undertaken in September 2020, with the interest applicable to the first 12 months covered by way of the Business Interruption payment revenue grant. Monthly repayments commenced in October 2021, with interest applied daily at a rate of 2.5% per annum.


9.


SHARE CAPITAL

2022
2021
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1



Page 9