Company Registration No. 7821383 (England and Wales)
Two Counties Vets Limited
Unaudited accounts
for the year ended 31 March 2023
Two Counties Vets Limited
Unaudited accounts
Contents
Two Counties Vets Limited
Company Information
for the year ended 31 March 2023
Directors
Dewi Jones
Andrea Jones
Company Number
7821383 (England and Wales)
Registered Office
Two Counties Vets
24 Nostell Place
Doncaster
South Yorkshire
DN4 7JA
England
Accountants
Blue Cube Accountants Limited
Britwell Grange
Britwell Road
Burnham
SL1 8DF
Two Counties Vets Limited
Statement of financial position
as at 31 March 2023
Intangible assets
6,119
12,241
Tangible assets
10,286
14,576
Cash at bank and in hand
58,639
-
Creditors: amounts falling due within one year
(148,881)
(94,385)
Net current liabilities
(8,493)
(20,946)
Total assets less current liabilities
7,912
5,871
Creditors: amounts falling due after more than one year
(3,850)
(5,050)
Called up share capital
2
2
Profit and loss account
4,060
819
Shareholders' funds
4,062
821
For the 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by
Andrea Jones
Director
Company Registration No. 7821383
Two Counties Vets Limited
Notes to the Accounts
for the year ended 31 March 2023
Two Counties Vets Limited is a private company, limited by shares, registered in England and Wales, registration number 7821383. The registered office is Two Counties Vets, 24 Nostell Place , Doncaster, South Yorkshire, DN4 7JA, England.
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
10% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The goodwill is being amortised evenly over 10 years.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the profit & loss account in the period to which they relate.
Two Counties Vets Limited
Notes to the Accounts
for the year ended 31 March 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
3
Intangible fixed assets
Goodwill
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2022
54,473
12,887
67,360
At 31 March 2023
54,473
12,887
67,360
At 1 April 2022
42,304
10,480
52,784
Charge for the year
3,001
1,289
4,290
At 31 March 2023
45,305
11,769
57,074
At 31 March 2023
9,168
1,118
10,286
At 31 March 2022
12,169
2,407
14,576
Amounts falling due within one year
Other debtors
76,465
73,439
Two Counties Vets Limited
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
10,013
Obligations under finance leases and hire purchase contracts
2,100
3,000
Trade creditors
62,262
34,348
Taxes and social security
54,350
27,954
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
3,850
5,050
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to Director
36,720
-
8,135
28,585
Loan to Director
36,719
-
8,134
28,585
The directors loans are repayable on demand and interest was charged at 2% per annum.
10
Average number of employees
During the year the average number of employees was 18 (2022: 17).