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Registration number: 07819273

Bainbridge Vets Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2023

 

Bainbridge Vets Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Bainbridge Vets Limited

(Registration number: 07819273)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

489,449

486,856

Current assets

 

Stocks

36,979

33,396

Debtors

198,604

193,356

Cash at bank and in hand

 

30,220

58,701

 

265,803

285,453

Creditors: Amounts falling due within one year

6

(154,401)

(179,856)

Net current assets

 

111,402

105,597

Total assets less current liabilities

 

600,851

592,453

Creditors: Amounts falling due after more than one year

7

(104,819)

(125,652)

Provisions for liabilities

(28,771)

(52,178)

Net assets

 

467,261

414,623

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

467,161

414,523

Total equity

 

467,261

414,623

 

Bainbridge Vets Limited

(Registration number: 07819273)
Abridged Balance Sheet as at 30 November 2023

For the financial year ending 30 November 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 29 November 2024 and signed on its behalf by:
 

M Woodhouse

Director

 

Bainbridge Vets Limited

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

1

General information

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

The address of its registered office is:
Cupplesfield Surgery
Bainbridge
Leyburn
North Yorkshire
DL8 3HA

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.

Prior period errors

The 2022 creditors note has been restated due to a prior period error in the allocation of creditors. The total of the creditors remains the same.

Revenue recognition

Turnover represents the amounts, excluding VAT, 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 the 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Bainbridge Vets Limited

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

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

Land

Nil

Buildings

2% straight line

Fixtures and equipment

15% reducing balance

Motor vehicles

25% reducing balance

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

Stocks

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 9).

4

Intangible assets

Total
£

Cost or valuation

At 1 December 2022

115,000

At 30 November 2023

115,000

Amortisation

At 1 December 2022

115,000

At 30 November 2023

115,000

Carrying amount

At 30 November 2023

-

 

Bainbridge Vets Limited

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

5

Tangible assets

Total
£

Cost or valuation

At 1 December 2022

736,324

Additions

43,822

Disposals

(17,500)

At 30 November 2023

762,646

Depreciation

At 1 December 2022

249,468

Charge for the year

33,846

Eliminated on disposal

(10,117)

At 30 November 2023

273,197

Carrying amount

At 30 November 2023

489,449

At 30 November 2022

486,856

6

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts which are secured of £25,200 (2022 - £22,739).

7

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts which are secured of £97.945 (2022 - £125,651).

Creditors due after more than five years includes bank loans of £nil (2022 - £34,692

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 £9,821 (2022 - £17,692).