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REGISTERED NUMBER: 10356850 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

ASPEN ANIMAL HEALTH LTD

ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASPEN ANIMAL HEALTH LTD

COMPANY INFORMATION
for the Year Ended 31 December 2022







DIRECTORS: Mr D L Mitson
Mrs V L Mitson





REGISTERED OFFICE: 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 10356850 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

BALANCE SHEET
31 December 2022

31.12.22 31.12.21
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30,124 30,385
Tangible assets 5 50,492 25,509
80,616 55,894

CURRENT ASSETS
Stocks 6 2,717,224 2,547,211
Debtors 7 984,328 1,541,646
Cash at bank and in hand 212,082 192,855
3,913,634 4,281,712
CREDITORS
Amounts falling due within one year 8 3,557,793 3,897,879
NET CURRENT ASSETS 355,841 383,833
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,457

439,727

PROVISIONS FOR LIABILITIES 11 9,791 4,847
NET ASSETS 426,666 434,880

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 426,566 434,780
SHAREHOLDERS' FUNDS 426,666 434,880

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

BALANCE SHEET - continued
31 December 2022


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

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 29 September 2023 and were signed on its behalf by:





Mr D L Mitson - Director


ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Aspen Animal Health Ltd 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.

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


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.

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.

Patents & trade marks are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

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

ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances and loans to fellow group undertakings, 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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group undertakings, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

2. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents &
trade Computer
marks software Totals
£    £    £   
COST
At 1 January 2022 17,341 19,358 36,699
Additions 4,517 - 4,517
At 31 December 2022 21,858 19,358 41,216
AMORTISATION
At 1 January 2022 1,551 4,763 6,314
Amortisation for year 907 3,871 4,778
At 31 December 2022 2,458 8,634 11,092
NET BOOK VALUE
At 31 December 2022 19,400 10,724 30,124
At 31 December 2021 15,790 14,595 30,385

ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2022 1,830 27,854 13,572 43,256
Additions 26,548 9,075 1,179 36,802
At 31 December 2022 28,378 36,929 14,751 80,058
DEPRECIATION
At 1 January 2022 112 8,808 8,827 17,747
Charge for year 1,494 5,698 4,627 11,819
At 31 December 2022 1,606 14,506 13,454 29,566
NET BOOK VALUE
At 31 December 2022 26,772 22,423 1,297 50,492
At 31 December 2021 1,718 19,046 4,745 25,509

6. STOCKS
31.12.22 31.12.21
as restated
£    £   
Stocks 2,717,224 2,547,211

7. DEBTORS
31.12.22 31.12.21
as restated
£    £   
Amounts falling due within one year:
Trade debtors 345,236 782,404
Amounts owed by related parties 29,573 618,305
Other debtors 4,500 4,500
Value added tax 38,590 -
Prepayments 136,429 136,437
554,328 1,541,646

Amounts falling due after more than one year:
Amounts owed by participating interests 430,000 -

Aggregate amounts 984,328 1,541,646

ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
as restated
£    £   
Bank loans and overdrafts (see note 9) - 5
Other loans (see note 9) - 3,386
Trade creditors 72,785 151,736
Amounts owed to group undertakings 3,474,885 3,656,676
Value added tax - 79,928
Other creditors 2,323 3,548
Accruals 7,800 2,600
3,557,793 3,897,879

9. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
as restated
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 5
Other loans - 3,386
- 3,391

10. SECURED DEBTS

At 31 December 2022 the assets of the company were subject to a registered debenture that forms security for loans in the parent undertaking.

11. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
as restated
£    £   
Deferred tax
Accelerated capital allowances 9,791 4,847

Deferred
tax
£   
Balance at 1 January 2022 4,847
Charge to Statement of Income and Retained Earnings during year 4,944
Balance at 31 December 2022 9,791

ASPEN ANIMAL HEALTH LTD (REGISTERED NUMBER: 10356850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: as restated
£    £   
100 Ordinary £1 100 100

13. ULTIMATE CONTROLLING PARTY

The controlling party is HLM Group Ltd.

This company is limited by shares and registered in England and Wales. The company's registered address is 4 Grovelands, Boundary Way, Hemel Hempstead, HP2 7TE.