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Registration number: 07395184

Norcal Veterinary Services Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2023

 

Norcal Veterinary Services Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Norcal Veterinary Services Ltd

(Registration number: 07395184)
Abridged Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

111,193

102,133

Current assets

 

Stocks

5

75,035

38,720

Debtors

162,066

150,464

Cash at bank and in hand

 

137,533

149,820

 

374,634

339,004

Creditors: Amounts falling due within one year

(175,105)

(124,566)

Net current assets

 

199,529

214,438

Total assets less current liabilities

 

310,722

316,571

Creditors: Amounts falling due after more than one year

(19,922)

(29,690)

Provisions for liabilities

(24,700)

(23,900)

Net assets

 

266,100

262,981

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

265,900

262,781

Total equity

 

266,100

262,981

 

Norcal Veterinary Services Ltd

(Registration number: 07395184)
Abridged Balance Sheet as at 31 October 2023

For the financial year ending 31 October 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 11 April 2024 and signed on its behalf by:
 

Mr E David

Director

Mrs C David

Director

 

Norcal Veterinary Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 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:
Unit 2
Rycote Lane Farm
Milton Common
Oxon
OX9 2NZ

These financial statements were authorised for issue by the Board on 11 April 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.

Going concern

The financial statements have been prepared on a going concern basis.

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

 

Norcal Veterinary Services Ltd

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

Fixtures & Fittings

15% reducing balance

Leasehold improvements

15% reducing balance

 

Norcal Veterinary Services Ltd

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 10 (2022 - 10).

4

Tangible assets

Total
£

Cost or valuation

At 1 November 2022

245,573

Additions

38,984

Disposals

(9,500)

At 31 October 2023

275,057

Depreciation

At 1 November 2022

143,440

Charge for the year

28,233

Eliminated on disposal

(7,809)

At 31 October 2023

163,864

Carrying amount

At 31 October 2023

111,193

At 31 October 2022

102,133

5

Stocks

2023
£

2022
£

Stock

75,035

38,720

6

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 £14,300 (2022 - £23,379).

 

Norcal Veterinary Services Ltd

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

7

Related party transactions

Advances to directors


Mr E David

During the period Mr E David went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £29,911 (2022 - £33,747). At the year end the amount outstanding from Mr E David was £Nil (2022 - £10,455). Interest has been charged at the HMRC approved rate.


Mrs C David

During the period Mrs C David went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £29,911 (2022 - £33,747). At the year end the amount outstanding from Mrs C David was £Nil (2022 - £10,455). Interest has been charged at the HMRC approved rate.