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Registration number: 08386278

Yorkshire Equine Clinic Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Yorkshire Equine Clinic Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

Yorkshire Equine Clinic Limited

(Registration number: 08386278)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1,598,911

1,596,918

Current assets

 

Debtors

295,747

334,041

Cash at bank and in hand

 

15,439

220

 

311,186

334,261

Creditors: Amounts falling due within one year

(1,901,343)

(1,932,377)

Net current liabilities

 

(1,590,157)

(1,598,116)

Net assets/(liabilities)

 

8,754

(1,198)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

8,752

(1,200)

Total equity

 

8,754

(1,198)

For the financial year ending 31 December 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 19 September 2024 and signed on its behalf by:
 

Mr M H Hillyer

Company secretary and director

Mr D Dugdale

Director

 

Yorkshire Equine Clinic Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 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:
Newmarket Equine Hospital
Cambridge Road
Newmarket
Suffolk
CB8 0FG

These financial statements were authorised for issue by the Board on 19 September 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. Of the company's current liabilities, an amount of £1,885,687 is owed to the Newmarket Equine Clinic Limited, who have agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 income 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.

 

Yorkshire Equine Clinic Limited

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 12).

4

Investments

Total
£

Cost or valuation

At 1 January 2023

1,597,133

Additions

1,778

At 31 December 2023

1,598,911

Carrying amount

At 31 December 2023

1,598,911

At 31 December 2022

1,596,918

 

Yorkshire Equine Clinic Limited

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

5

Related party transactions

Summary of transactions with other related parties

Sycamore Lodge Equine Hospital Limited
(an Irish company of which Yorkshire Equine Clinic Limited owns 50% of the issued share capital)
As at 31 December 2023 the company was owed £287,077 (2022 - £330,210) from Sycamore Lodge Equine Hospital Limited. The amount is inlcuded within other debtors. There are no fixed repayment terms and no interest is charged.

Yorkshire Equine Hospital Limited
(of which all directors are directors and shareholders)
As at 31 December 2023 the company owed £2,800 (2022 - £2,800) to Yorkshire Equine Hospital Limited. This amount is included in other creditors. There are no fixed repayment terms and no interest is charged.

Newmarket Equine Hospital
(A partnership of which all directors are partners)
As at 31 December 2023 the company owed £388 (2022 £Nil) to Newmarket Equine Hospital. This amount is included in other creditors. There are no fixed repayment terms and no interest is charged.

Newmarket Equine Clinic Limited
(of which all directors are directors and shareholders)
As at 31 December 2023 the company owed £1,885,687 (2022 - £1,786,577) to Newmarket Equine Clinic Limited. This amount is included in other creditors. There are no fixed repayment terms and no interest is charged.

Leinster Equine Limited
(an Irish company of which Yorkshire Equine Clinic Limited own 100% of the issued share capital)
As at 31 December 2023 the company owed £7,104 (2022 - £Nil) to Leinster Equine Limited. This amount is included in other creditors. There are no fixed repayment terms and no interest is charged.