Homoeopathic Veterinary Supplies Ltd NI020771 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is The company's principal activity continues to be the manufacture and distribution of animal health products. Digita Accounts Production Advanced 6.30.9574.0 true true NI020771 2022-08-01 2023-07-31 NI020771 2023-07-31 NI020771 bus:Director1 1 2023-07-31 NI020771 bus:Director2 1 2023-07-31 NI020771 bus:OrdinaryShareClass1 2023-07-31 NI020771 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-07-31 NI020771 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 NI020771 core:LandBuildings core:LongLeaseholdAssets 2023-07-31 NI020771 core:MotorVehicles 2023-07-31 NI020771 core:PlantMachinery 2023-07-31 NI020771 bus:SmallEntities 2022-08-01 2023-07-31 NI020771 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 NI020771 bus:FullAccounts 2022-08-01 2023-07-31 NI020771 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI020771 bus:RegisteredOffice 2022-08-01 2023-07-31 NI020771 bus:Director1 2022-08-01 2023-07-31 NI020771 bus:Director1 1 2022-08-01 2023-07-31 NI020771 bus:Director2 2022-08-01 2023-07-31 NI020771 bus:Director2 1 2022-08-01 2023-07-31 NI020771 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 NI020771 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI020771 core:LandBuildings 2022-08-01 2023-07-31 NI020771 core:LandBuildings core:LongLeaseholdAssets 2022-08-01 2023-07-31 NI020771 core:MotorVehicles 2022-08-01 2023-07-31 NI020771 core:PlantMachinery 2022-08-01 2023-07-31 NI020771 countries:NorthernIreland 2022-08-01 2023-07-31 NI020771 2022-07-31 NI020771 bus:Director1 1 2022-07-31 NI020771 bus:Director2 1 2022-07-31 NI020771 core:LandBuildings core:LongLeaseholdAssets 2022-07-31 NI020771 core:MotorVehicles 2022-07-31 NI020771 core:PlantMachinery 2022-07-31 NI020771 2021-08-01 2022-07-31 NI020771 2022-07-31 NI020771 bus:OrdinaryShareClass1 2022-07-31 NI020771 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 NI020771 core:LandBuildings core:LongLeaseholdAssets 2022-07-31 NI020771 core:MotorVehicles 2022-07-31 NI020771 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI020771

Homoeopathic Veterinary Supplies Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Homoeopathic Veterinary Supplies Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Homoeopathic Veterinary Supplies Ltd

(Registration number: NI020771)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

271,955

222,906

Investments

5

222,505

211,565

 

494,460

434,471

Current assets

 

Stocks

6

106,898

88,386

Debtors

7

149,827

130,583

Cash at bank and in hand

 

510,585

527,302

 

767,310

746,271

Creditors: Amounts falling due within one year

8

(71,763)

(47,163)

Net current assets

 

695,547

699,108

Total assets less current liabilities

 

1,190,007

1,133,579

Provisions for liabilities

(24,870)

(23,227)

Net assets

 

1,165,137

1,110,352

Capital and reserves

 

Called up share capital

9

48,220

48,220

Profit and loss account

1,116,917

1,062,132

Shareholders' funds

 

1,165,137

1,110,352

 

Homoeopathic Veterinary Supplies Ltd

(Registration number: NI020771)
Balance Sheet as at 31 July 2023

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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. 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 18 April 2024 and signed on its behalf by:
 

.........................................
Paul Elwood
Director

 

Homoeopathic Veterinary Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
116 Barnamaghery Road
Crossgar
Downpatrick
County Down
BT30 9DW
Northern Ireland

The presentation currency is £ Sterling.
The level of rounding is to the nearest £.

The company registration number is NI020771.

These financial statements were authorised for issue by the Board on 18 April 2024.

2

Accounting policies

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.

Going concern

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

Revenue recognition

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

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

 

Homoeopathic Veterinary Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

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

Leasehold

2% Straight Line

Plant & Machinery

20% Reducing Balance

Motor Vehicles

20% Straight Line

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.

Tax

The tax expense for the period comprises current 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 on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that
taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to
the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of
deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying
amount of its assets and liabilities.
 

 

Homoeopathic Veterinary Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

 

Homoeopathic Veterinary Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Leasehold improvements
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

130,874

221,415

120,067

472,356

Additions

31,503

86,103

32,556

150,162

Disposals

-

(181,509)

-

(181,509)

At 31 July 2023

162,377

126,009

152,623

441,009

Depreciation

At 1 August 2022

18,656

143,044

87,751

249,451

Charge for the year

3,248

39,858

23,295

66,401

Eliminated on disposal

-

(146,798)

-

(146,798)

At 31 July 2023

21,904

36,104

111,046

169,054

Carrying amount

At 31 July 2023

140,473

89,905

41,577

271,955

At 31 July 2022

112,219

78,372

32,315

222,906

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 August 2022

211,565

211,565

Fair value adjustments

10,940

10,940

At 31 July 2023

222,505

222,505

Carrying amount

At 31 July 2023

222,505

222,505

 

Homoeopathic Veterinary Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Stocks

2023
£

2022
£

Finished goods and goods for resale

106,898

88,386

7

Debtors

Current

2023
£

2022
£

Trade debtors

134,826

119,105

Prepayments

10,955

7,789

Other debtors

4,046

3,689

 

149,827

130,583

 

Homoeopathic Veterinary Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

27,875

5,870

Taxation and social security

30,678

35,782

Accruals and deferred income

3,690

5,091

Other creditors

9,520

420

71,763

47,163

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Allotted, Called up and fully paid of £1 each

48,220

48,220

48,220

48,220

         

10

Related party transactions

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Paul Elwood

(420)

36,000

(45,100)

(9,520)

         
       

Elvey Elwood

-

36,000

(36,000)

-