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Registration number: 7359998

Grange Vets Darlington Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 29 February 2024

 

Grange Vets Darlington Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Grange Vets Darlington Limited

(Registration number: 7359998)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

80,740

92,274

Tangible assets

5

58,047

66,773

 

138,787

159,047

Current assets

 

Stocks

39,820

39,820

Debtors

64,360

67,889

Cash at bank and in hand

 

211,058

250,339

 

315,238

358,048

Creditors: Amounts falling due within one year

(211,994)

(240,973)

Net current assets

 

103,244

117,075

Total assets less current liabilities

 

242,031

276,122

Provisions for liabilities

(12,974)

(11,262)

Net assets

 

229,057

264,860

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

228,957

264,760

Total equity

 

229,057

264,860

 

Grange Vets Darlington Limited

(Registration number: 7359998)
Abridged Balance Sheet as at 29 February 2024

For the financial year ending 29 February 2024 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 director acknowledges her 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 director on 27 November 2024
 

Miss A Pickering

Director

 

Grange Vets Darlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

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:
Grange Vets Darlington Ltd
Victoria Road
Darlington
County Durham
DL1 5SJ

These financial statements were authorised for issue by the director on 27 November 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.

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 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.

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

Fixtures and equipment

15% reducing balance

Motor vehicles

25% reducing balance

 

Grange Vets Darlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which the directors consider to be twenty years

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

5% straight line

Stocks

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2023 - 21).

4

Intangible assets

Total
£

Cost or valuation

At 1 March 2023

230,683

At 29 February 2024

230,683

Amortisation

At 1 March 2023

138,409

Amortisation charge

11,534

At 29 February 2024

149,943

Carrying amount

At 29 February 2024

80,740

At 28 February 2023

92,274

 

Grange Vets Darlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

5

Tangible assets

Total
£

Cost or valuation

At 1 March 2023

210,023

Additions

1,541

At 29 February 2024

211,564

Depreciation

At 1 March 2023

143,250

Charge for the year

10,267

At 29 February 2024

153,517

Carrying amount

At 29 February 2024

58,047

At 28 February 2023

66,773