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Registration number: 09671021

Four Crosses Veterinary Centre Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

Four Crosses Veterinary Centre Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Four Crosses Veterinary Centre Limited

(Registration number: 09671021)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

82,082

109,442

Tangible assets

5

34,437

39,882

 

116,519

149,324

Current assets

 

Debtors

204,511

179,805

Cash at bank and in hand

 

262,322

163,387

 

466,833

343,192

Creditors: Amounts falling due within one year

6

(144,352)

(143,469)

Net current assets

 

322,481

199,723

Total assets less current liabilities

 

439,000

349,047

Creditors: Amounts falling due after more than one year

7

(150,827)

(169,383)

Provisions for liabilities

(5,887)

(5,053)

Net assets

 

282,286

174,611

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

282,186

174,511

Total equity

 

282,286

174,611

 

Four Crosses Veterinary Centre Limited

(Registration number: 09671021)
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 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 4 February 2024 and signed on its behalf by:
 

Mr RJ Newing

Director

Mrs S R J Newing

Director

 

Four Crosses Veterinary Centre 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 & Wales.

The address of its registered office is:
Hafod Offa
Four Crosses
Llanymynech
Powys
SY22 6RD

These financial statements were authorised for issue by the Board on 4 February 2024.

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

Motor Vehicles

25% reducing balance

Plant and machinery

20% reducing balance

Fixtures and fittings

15% reducing balance

 

Four Crosses Veterinary Centre Limited

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

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

10% straight line

3

Staff numbers

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

 

Four Crosses Veterinary Centre Limited

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

4

Intangible assets

Total
£

Cost or valuation

At 1 July 2022

273,602

At 30 June 2023

273,602

Amortisation

At 1 July 2022

164,160

Amortisation charge

27,360

At 30 June 2023

191,520

Carrying amount

At 30 June 2023

82,082

At 30 June 2022

109,442

5

Tangible assets

Total
£

Cost or valuation

At 1 July 2022

89,189

Additions

1,683

At 30 June 2023

90,872

Depreciation

At 1 July 2022

49,307

Charge for the year

7,128

At 30 June 2023

56,435

Carrying amount

At 30 June 2023

34,437

At 30 June 2022

39,882

6

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £19,300 (2022 - £20,000).

7

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £150,827 (2022 - £169,383).

Creditors include bank loans repayable by instalments of £73,627 (2022 - £89,383) due after more than five years.

 

Four Crosses Veterinary Centre Limited

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

8

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 £24,731 (2022 - £2,688).

9

Related party transactions

Advances to directors


Mr RJ Newing

During the period Mr RJ Newing went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £47,177 (2022 - £23,854). At the year end the amount outstanding from Mr RJ Newing was £Nil (2022 - £-). Interest has been charged at the commercial rate.


Mrs S R J Newing

During the period Mrs S R J Newing went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £47,177 (2022 - £23,853). At the year end the amount outstanding from Mrs S R J Newing was £Nil (2022 - £-). Interest has been charged at the commercial rate.