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Registration number: 07966469

Animal Trust Property Limited

Annual Report and Financial Statements

for the Year Ended 30 June 2023

 

Animal Trust Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Animal Trust Property Limited

Company Information

Directors

Mr O R Monie

Mrs T Noble

Registered office

Animal Trust Administration Centre
Cedab Road
Ellesmere Port
CH65 4FE

Auditors

Ballards LLP
Chartered Accountants, Statutory Auditors
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Animal Trust Property Limited

(Registration number: 07966469)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,421,934

3,517,054

Investments

100

100

 

3,422,034

3,517,154

Current assets

 

Debtors

6

1,063,532

940,336

Cash at bank and in hand

 

427,217

493,626

 

1,490,749

1,433,962

Creditors: Amounts falling due within one year

7

(372,571)

(340,067)

Net current assets

 

1,118,178

1,093,895

Total assets less current liabilities

 

4,540,212

4,611,049

Creditors: Amounts falling due after more than one year

7

(2,555,016)

(2,738,916)

Provisions for liabilities

(313,647)

(322,548)

Net assets

 

1,671,549

1,549,585

Reserves

 

Retained earnings

1,671,549

1,549,585

Surplus

 

1,671,549

1,549,585

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2023 and signed on its behalf by:
 

.........................................
Mrs T Noble
Director

   
 

Animal Trust Property Limited

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

1

General information

The company is a company limited by guarantee, incorporated in United Kingdom, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Animal Trust Administration Centre
Cedab Road
Ellesmere Port
CH65 4FE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements have been rounded to the neared £.

Going concern

These financial statements are prepared on the going concern basis. The Directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

 

Animal Trust Property Limited

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

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 15 November 2023 was Benjamin Powell, who signed for and on behalf of Ballards LLP.

.........................................

Judgements

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Animal Trust Property Limited

Notes to the 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

Freehold and long leasehold land

Not depreciated

Freehold buildings

2% straight line

Long leasehold buildings

2% straight line

Short leasehold properties

33.3% straight line

Fixtures and fittings

20% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

5 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Animal Trust Property Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

1,000

1,000

At 30 June 2023

1,000

1,000

Amortisation

At 1 July 2022

1,000

1,000

At 30 June 2023

1,000

1,000

Carrying amount

At 30 June 2023

-

-

 

Animal Trust Property Limited

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

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2022

4,979,024

4,979,024

At 30 June 2023

4,979,024

4,979,024

Depreciation

At 1 July 2022

1,461,970

1,461,970

Charge for the year

95,120

95,120

At 30 June 2023

1,557,090

1,557,090

Carrying amount

At 30 June 2023

3,421,934

3,421,934

At 30 June 2022

3,517,054

3,517,054

Included within the net book value of land and buildings above is £2,987,329 (2022 - £3,067,725) in respect of freehold land and buildings and £434,606 (2022 - £449,329) in respect of long leasehold land and buildings.
 

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

3,431

300

Amounts owed by related parties

10

1,060,101

940,036

   

1,063,532

940,336

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

286,470

235,198

Trade creditors

 

1,162

2,835

Taxation and social security

 

19,732

21,175

Other creditors

 

65,207

80,859

 

372,571

340,067

Due after one year

 

Loans and borrowings

8

2,555,016

2,738,916

 

Animal Trust Property Limited

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

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,555,016

2,738,916

2023
£

2022
£

Current loans and borrowings

Bank borrowings

285,414

235,198

Bank overdrafts

1,056

-

286,470

235,198

The bank borrowings are secured by charges over the assets of the company.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of contingencies not included in the balance sheet is £Nil (2022 - £219,824).

10

Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidaries within the group.
 

11

Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is Orumm Limited .

The address of Orumm Limited is:
Animal Trust Administartion Centre
Cedab Road
Ellesmere Port
United Kingdom
CH65 4FE