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Registration number: 14176756

Westover Large Animal Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Westover Large Animal Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Westover Large Animal Limited

(Registration number: 14176756)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

138,750

146,250

Tangible assets

5

310,661

188,170

Investments

6

100

100

 

449,511

334,520

Current assets

 

Stocks

69,687

58,876

Debtors

430,829

206,431

Cash at bank and in hand

 

174,045

230,686

 

674,561

495,993

Creditors: Amounts falling due within one year

7

(502,467)

(191,119)

Net current assets

 

172,094

304,874

Total assets less current liabilities

 

621,605

639,394

Creditors: Amounts falling due after more than one year

8

(38,665)

(17,720)

Provisions for liabilities

(10,774)

(1,905)

Net assets

 

572,166

619,769

Capital and reserves

 

Called up share capital

558,270

558,270

Profit and loss account

13,896

61,499

Total equity

 

572,166

619,769

 

Westover Large Animal Limited

(Registration number: 14176756)
Abridged Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 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 15 October 2024 and signed on its behalf by:
 

Mr T Hume

Director

Mr N T Morrell

Director

Ms K Davis

Director

Mr J L Tilly

Director

 

Westover Large Animal Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 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:
Westover Veterinary Centre
Hornbeam Business Park
Hornbeam Road
North Walsham
Norfolk
NR28 0FX

These financial statements were authorised for issue by the Board on 15 October 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 value added tax, 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

Leasehold property

2% Straight line

Plant and machinery

25% Reducing balance

Motor vehicles

20% Reducing balance

 

Westover Large Animal Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

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

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.

Stocks

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2023 - 5).

4

Intangible assets

Total
£

Cost or valuation

At 1 May 2023

150,000

At 30 April 2024

150,000

Amortisation

At 1 May 2023

3,750

Amortisation charge

7,500

At 30 April 2024

11,250

Carrying amount

At 30 April 2024

138,750

At 30 April 2023

146,250

 

Westover Large Animal Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Total
£

Cost or valuation

At 1 May 2023

204,183

Additions

156,813

At 30 April 2024

360,996

Depreciation

At 1 May 2023

16,013

Charge for the year

34,322

At 30 April 2024

50,335

Carrying amount

At 30 April 2024

310,661

At 30 April 2023

188,170

Included within the net book value of land and buildings above is £106,603 (2023 - £100,289) in respect of long leasehold land and buildings.
 

6

Investments

Total
£

Cost or valuation

Additions

100

Carrying amount

At 30 April 2024

100

At 30 April 2023

100

7

Creditors: amounts falling due within one year

Creditors includes hire purchase contracts which are secured of £38,042 (2023 - £14,625).

8

Creditors: amounts falling due after more than one year

Creditors includes hire purchase contracts which are secured of £38,665 (2023 - £17,720).

9

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 £208,250 (2023 - £233,750).

 

Westover Large Animal Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Advances to directors


Ms A F Kent

During the period Ms A F Kent went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £3,658 (2023 - £756). At the year end the amount outstanding from Ms A F Kent was £Nil (2023 - £756). Interest has been charged at the commercial rate.


Mr T Hume

During the period Mr T Hume went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £3,646 (2023 - £Nil). At the year end the amount outstanding from Mr T Hume was £Nil (2023 - £-). Interest has been charged at the commercial rate.