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REGISTERED NUMBER: 07011434 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Polden Hills Veterinary Centre Limited

Polden Hills Veterinary Centre Limited (Registered number: 07011434)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Polden Hills Veterinary Centre Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: J R Smith
Mrs M C Walker





REGISTERED OFFICE: The Woollands
Brent Road
Cossington
Bridgwater
Somerset
TA7 8LF





REGISTERED NUMBER: 07011434 (England and Wales)

Polden Hills Veterinary Centre Limited (Registered number: 07011434)

Balance Sheet
30 September 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 59,164 68,618
Tangible assets 5 621,014 661,881
680,178 730,499

CURRENT ASSETS
Stocks 53,303 36,460
Debtors 6 66,018 57,870
Cash at bank - 49,546
119,321 143,876
CREDITORS
Amounts falling due within one year 7 306,255 318,446
NET CURRENT LIABILITIES (186,934 ) (174,570 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,244

555,929

CREDITORS
Amounts falling due after more than one
year

8

(158,074

)

(279,114

)

PROVISIONS FOR LIABILITIES (28,055 ) (25,697 )
NET ASSETS 307,115 251,118

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 306,115 250,118
SHAREHOLDERS' FUNDS 307,115 251,118

Polden Hills Veterinary Centre Limited (Registered number: 07011434)

Balance Sheet - continued
30 September 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:




J R Smith - Director



Mrs M C Walker - Director


Polden Hills Veterinary Centre Limited (Registered number: 07011434)

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

1. STATUTORY INFORMATION

Polden Hills Veterinary Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in 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 prepared on a going concern basis. At the year end, the company had net current liabilities, as shown on the balance sheet. The company meets certain of its day to day expenditure with the support of its directors. It is anticipated that the directors will continue to support the company for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold property - 5% on a straight line basis
Plant and equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Polden Hills Veterinary Centre Limited (Registered number: 07011434)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 189,076
AMORTISATION
At 1 October 2022 120,458
Amortisation for year 9,454
At 30 September 2023 129,912
NET BOOK VALUE
At 30 September 2023 59,164
At 30 September 2022 68,618

5. TANGIBLE FIXED ASSETS
Long
leasehold Plant and
property equipment Totals
£    £    £   
COST
At 1 October 2022 686,523 294,392 980,915
Additions 17,354 4,966 22,320
At 30 September 2023 703,877 299,358 1,003,235
DEPRECIATION
At 1 October 2022 159,889 159,145 319,034
Charge for year 35,194 27,993 63,187
At 30 September 2023 195,083 187,138 382,221
NET BOOK VALUE
At 30 September 2023 508,794 112,220 621,014
At 30 September 2022 526,634 135,247 661,881

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 65,222 57,870
Directors' current accounts 796 -
66,018 57,870

Polden Hills Veterinary Centre Limited (Registered number: 07011434)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 135,718 176,887
Trade creditors 78,178 60,019
Tax 54,409 40,629
Social security and other taxes 26,950 32,485
Other creditors 2,780 888
Directors' current accounts - 4,555
Accrued expenses 8,220 2,983
306,255 318,446

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans - 2-5 years 158,074 249,114
Directors' loan accounts - 30,000
158,074 279,114

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
as restated
£    £   
Between one and five years 19,007 42,927

10. ULTIMATE CONTROLLING PARTY

The controlling party is M Walker and J Smith..