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REGISTERED NUMBER: 10144480 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HAYLE VETERINARY LIMITED

HAYLE VETERINARY LIMITED (REGISTERED NUMBER: 10144480)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAYLE VETERINARY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: S J Wyatt





REGISTERED OFFICE: 82-84 Commercial Street
Hayle
Cornwall
TR27 4DH





REGISTERED NUMBER: 10144480 (England and Wales)





ACCOUNTANTS: Greenwood Wilson
The Old School
The Stennack
St Ives
Cornwall
TR26 1QU

HAYLE VETERINARY LIMITED (REGISTERED NUMBER: 10144480)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 187,905 232,997
Tangible assets 5 483,867 484,219
671,772 717,216

CURRENT ASSETS
Stocks 33,795 22,254
Debtors 6 24,843 26,556
Cash at bank and in hand 127,041 104,147
185,679 152,957
CREDITORS
Amounts falling due within one year 7 151,602 138,237
NET CURRENT ASSETS 34,077 14,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

705,849

731,936

CREDITORS
Amounts falling due after more than one
year

8

(253,645

)

(293,236

)

PROVISIONS FOR LIABILITIES (25,435 ) -
NET ASSETS 426,769 438,700

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 426,669 438,600
SHAREHOLDERS' FUNDS 426,769 438,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HAYLE VETERINARY LIMITED (REGISTERED NUMBER: 10144480)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 12 October 2023 and were signed by:





S J Wyatt - Director


HAYLE VETERINARY LIMITED (REGISTERED NUMBER: 10144480)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Hayle Veterinary 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.

Goodwill
Goodwill, being the amount invested in connection with the incorporation of the business in 2016, is being amortised evenly over its estimated useful life of ten years.

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.
Plant and machinery 10% on a reducing balance 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 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

HAYLE VETERINARY LIMITED (REGISTERED NUMBER: 10144480)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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 year was 20 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 450,922
AMORTISATION
At 1 April 2022 217,925
Charge for year 45,092
At 31 March 2023 263,017
NET BOOK VALUE
At 31 March 2023 187,905
At 31 March 2022 232,997

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 350,000 182,393 532,393
Additions - 20,384 20,384
At 31 March 2023 350,000 202,777 552,777
DEPRECIATION
At 1 April 2022 - 48,174 48,174
Charge for year - 20,736 20,736
At 31 March 2023 - 68,910 68,910
NET BOOK VALUE
At 31 March 2023 350,000 133,867 483,867
At 31 March 2022 350,000 134,219 484,219

HAYLE VETERINARY LIMITED (REGISTERED NUMBER: 10144480)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,141 21,741
Other debtors 4,702 4,815
24,843 26,556

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 49,004 58,402
Hire purchase contracts - 5,421
Trade creditors 29,635 6,259
Taxation and social security 68,377 63,989
Other creditors 4,586 4,166
151,602 138,237

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 253,645 293,236

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 157,367 135,241

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 302,649 351,638
Hire purchase contracts - 5,421
302,649 357,059

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S J Wyatt.