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Registration number: 08432371

Trinity Veterinary Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

Trinity Veterinary Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Trinity Veterinary Limited

(Registration number: 08432371)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

12,373

12,263

Current assets

 

Stocks

2,615

2,786

Debtors

7,121

8,149

Cash at bank and in hand

 

124,389

184,480

 

134,125

195,415

Creditors: Amounts falling due within one year

(25,158)

(30,241)

Net current assets

 

108,967

165,174

Total assets less current liabilities

 

121,340

177,437

Provisions for liabilities

(1,020)

(1,714)

Net assets

 

120,320

175,723

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

120,220

175,623

Total equity

 

120,320

175,723

 

Trinity Veterinary Limited

(Registration number: 08432371)
Abridged Balance Sheet as at 30 June 2023

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

Mr R M Hyde

Director

Dr E Hyde

Director

 

Trinity Veterinary Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
476 Felixstowe Road
Ipswich
Suffolk
IP3 8SU

These financial statements were authorised for issue by the Board on 1 November 2023.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Tax

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

The current 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 taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Trinity Veterinary Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold Improvements

2% Straight Line

Fixtures and Fittings

15% Reducing Balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

4

Intangible assets

Total
£

Cost or valuation

At 1 July 2022

130,076

At 30 June 2023

130,076

Amortisation

At 1 July 2022

130,076

At 30 June 2023

130,076

Carrying amount

At 30 June 2023

-

 

Trinity Veterinary Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Tangible assets

Total
£

Cost or valuation

At 1 July 2022

26,154

Additions

2,008

At 30 June 2023

28,162

Depreciation

At 1 July 2022

13,891

Charge for the year

1,898

At 30 June 2023

15,789

Carrying amount

At 30 June 2023

12,373

At 30 June 2022

12,263

Included within the net book value of land and buildings above is £1,855 (2022 - £1,896) in respect of long leasehold land and buildings.
 

6

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £41,625 (2022 - £55,125).

7

Related party transactions

Advances to directors

Mr R M Hyde & Dr E Hyde

During the period Mr R M Hyde and Dr E Hyde went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £43,212 (2022 - £41,505). At the year end the amount outstanding from Mr R M Hyde and Dr E Hyde was £Nil (2022 - £Nil). Interest has been charged at the commerical rate.