Registered number
03237831
Banbury Cross Veterinary Farm Supplies Limited
Filleted Accounts
30 November 2023
Banbury Cross Veterinary Farm Supplies Limited
Registered number: 03237831
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 201,125 201,307
Current assets
Stocks 33,314 33,314
Debtors 4 11,862 11,862
Cash at bank and in hand 2,871 4,777
48,047 49,953
Creditors: amounts falling due within one year 5 (87,952) (82,241)
Net current liabilities (39,905) (32,288)
Total assets less current liabilities 161,220 169,019
Creditors: amounts falling due after more than one year 6 (207,034) (222,434)
Net liabilities (45,814) (53,415)
Capital and reserves
Called up share capital 2 2
Profit and loss account (45,816) (53,417)
Shareholder's funds (45,814) (53,415)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C A Madeiros
Director
Approved by the board on 15 August 2024
Banbury Cross Veterinary Farm Supplies Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 200,582 2,770 203,352
At 30 November 2023 200,582 2,770 203,352
Depreciation
At 1 December 2022 - 2,045 2,045
Charge for the year - 182 182
At 30 November 2023 - 2,227 2,227
Net book value
At 30 November 2023 200,582 543 201,125
At 30 November 2022 200,582 725 201,307
4 Debtors 2023 2022
£ £
Trade debtors 2,765 2,765
Other debtors 9,097 9,097
11,862 11,862
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,587 2,575
Trade creditors 352 336
Taxation and social security costs 3,036 (455)
Other creditors 79,977 79,785
87,952 82,241
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 207,034 222,434
7 Other information
Banbury Cross Veterinary Farm Supplies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Eden Hall
Southam Road
Banbury
Oxfordshire
OX16 1ST
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