30 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 395,000 316,000 19,750 335,750 59,250 79,000 xbrli:pure xbrli:shares iso4217:GBP 05629768 2022-02-01 2023-01-31 05629768 2023-01-31 05629768 2022-01-31 05629768 2021-02-01 2022-01-31 05629768 2022-01-31 05629768 core:NetGoodwill 2022-02-01 2023-01-31 05629768 core:PlantMachinery 2022-02-01 2023-01-31 05629768 core:MotorVehicles 2022-02-01 2023-01-31 05629768 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 05629768 bus:Director10 2022-02-01 2023-01-31 05629768 core:NetGoodwill 2022-01-31 05629768 core:NetGoodwill 2023-01-31 05629768 core:PlantMachinery 2022-01-31 05629768 core:MotorVehicles 2022-01-31 05629768 core:PlantMachinery 2023-01-31 05629768 core:MotorVehicles 2023-01-31 05629768 core:WithinOneYear 2023-01-31 05629768 core:WithinOneYear 2022-01-31 05629768 core:ShareCapital 2023-01-31 05629768 core:ShareCapital 2022-01-31 05629768 core:RetainedEarningsAccumulatedLosses 2023-01-31 05629768 core:RetainedEarningsAccumulatedLosses 2022-01-31 05629768 core:MoreThanFiveYears 2023-01-31 05629768 core:MoreThanFiveYears 2022-01-31 05629768 core:NetGoodwill 2022-01-31 05629768 core:PlantMachinery 2022-01-31 05629768 core:MotorVehicles 2022-01-31 05629768 bus:SmallEntities 2022-02-01 2023-01-31 05629768 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 05629768 bus:FullAccounts 2022-02-01 2023-01-31 05629768 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 05629768 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05629768 bus:OrdinaryShareClass1 2023-01-31 05629768 bus:OrdinaryShareClass1 2022-01-31
COMPANY REGISTRATION NUMBER: 05629768
Bridge Veterinary Practice Limited
Unaudited financial statements
31 January 2023
Bridge Veterinary Practice Limited
Statement of financial position
31 January 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
59,250
79,000
Tangible assets
6
57,980
74,690
---------
---------
117,230
153,690
Current assets
Stocks
42,195
39,477
Debtors
7
10,256
23,427
Cash at bank and in hand
235,610
428,537
---------
---------
288,061
491,441
Prepayments and accrued income
15,403
15,351
Creditors: Amounts falling due within one year
8
( 223,174)
( 227,905)
---------
---------
Net current assets
80,290
278,887
---------
---------
Total assets less current liabilities
197,520
432,577
Provisions
Taxation including deferred tax
( 10,842)
( 13,795)
Accruals and deferred income
( 18,300)
( 14,503)
---------
---------
Net assets
168,378
404,279
---------
---------
Capital and reserves
Called up share capital
9
20,200
20,200
Profit and loss account
148,178
384,079
---------
---------
Shareholders funds
168,378
404,279
---------
---------
These 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 Section 1A of 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 statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 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 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 financial statements .
Bridge Veterinary Practice Limited
Statement of financial position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 26 October 2023 , and are signed on behalf of the board by:
Mr R J Alfonso
Director
Company registration number: 05629768
Bridge Veterinary Practice Limited
Notes to the financial statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is CVS House, Owen Road, Diss, Norfolk, IP22 4ER.
2. Statement of compliance
These 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 financial statements have been prepared on the historical cost basis. The 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 30 (2022: 31 ).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2022 and 31 January 2023
395,000
---------
Amortisation
At 1 February 2022
316,000
Charge for the year
19,750
---------
At 31 January 2023
335,750
---------
Carrying amount
At 31 January 2023
59,250
---------
At 31 January 2022
79,000
---------
6. Tangible assets
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 February 2022
284,296
2,700
286,996
Additions
2,618
2,618
---------
------
---------
At 31 January 2023
286,914
2,700
289,614
---------
------
---------
Depreciation
At 1 February 2022
209,685
2,621
212,306
Charge for the year
19,308
20
19,328
---------
------
---------
At 31 January 2023
228,993
2,641
231,634
---------
------
---------
Carrying amount
At 31 January 2023
57,921
59
57,980
---------
------
---------
At 31 January 2022
74,611
79
74,690
---------
------
---------
7. Debtors
2023
2022
£
£
Trade debtors
10,256
23,427
-------
-------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
74,391
83,313
Social security and other taxes
146,339
96,310
Amounts owed to associated companies
45,000
Other creditors
2,444
3,282
---------
---------
223,174
227,905
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
20,200
20,200
20,200
20,200
-------
-------
-------
-------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Later than 5 years
83,875
114,375
-------
---------