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Registration number: 11247047

Chalkland Vets Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

Chalkland Vets Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Chalkland Vets Limited

(Registration number: 11247047)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

412,351

171,456

Current assets

 

Stocks

36,620

24,396

Debtors

84,188

83,081

Cash at bank and in hand

 

172,718

280,968

 

293,526

388,445

Creditors: Amounts falling due within one year

5

(195,023)

(204,591)

Net current assets

 

98,503

183,854

Total assets less current liabilities

 

510,854

355,310

Creditors: Amounts falling due after more than one year

6

(350,199)

(208,815)

Provisions for liabilities

(52,695)

(17,835)

Net assets

 

107,960

128,660

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

107,860

128,560

Total equity

 

107,960

128,660

 

Chalkland Vets Limited

(Registration number: 11247047)
Abridged Balance Sheet as at 31 March 2023

For the financial year ending 31 March 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 Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 8 September 2023 and signed on its behalf by:
 

Ms S Walters

Director

Ms P J Hunt

Director

 

Chalkland Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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:
41-42 New Road
Chippenham
SN15 1HL

These financial statements were authorised for issue by the Board on 8 September 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.

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 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.

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

10% straight line

Plant and machinery

25% straight line

Fixtures and fittings

25% straight line

Office equipment

33% straight line

Motor vehicles

25% reducing balance

Borrowings

 

Chalkland Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2022 - 18).

 

Chalkland Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Long leasehold land and buildings
£

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2022

179,374

-

8,559

135,897

15,239

Additions

-

229,844

5,078

89,578

8,093

At 31 March 2023

179,374

229,844

13,637

225,475

23,332

Depreciation

At 1 April 2022

57,711

-

6,258

98,158

9,573

Charge for the year

33,194

-

3,000

50,169

5,524

At 31 March 2023

90,905

-

9,258

148,327

15,097

Carrying amount

At 31 March 2023

88,469

229,844

4,379

77,148

8,235

At 31 March 2022

121,662

-

2,302

37,739

5,666

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

5,450

344,519

Additions

1,614

334,207

At 31 March 2023

7,064

678,726

Depreciation

At 1 April 2022

1,363

173,063

Charge for the year

1,425

93,312

At 31 March 2023

2,788

266,375

Carrying amount

At 31 March 2023

4,276

412,351

At 31 March 2022

4,087

171,456

5

Creditors: amounts falling due within one year

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £71,346 (2022 - £45,177)

6

Creditors: amounts falling due after more than one year

Creditors include bank loans and net obligations under finance lease and hire purchase contracts which are secured of £350,195 (2022 - £208,815)

 

Chalkland Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

7

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 £146,563 (2022 - £Nil).