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Registration number: 10004745

Walnut Hill Equine Clinic Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Walnut Hill Equine Clinic Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Walnut Hill Equine Clinic Limited

(Registration number: 10004745)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

50,000

75,000

Tangible assets

5

675,035

682,437

 

725,035

757,437

Current assets

 

Stocks

133,672

118,497

Debtors

1,055,036

707,840

Cash at bank and in hand

 

433,959

620,061

 

1,622,667

1,446,398

Creditors: Amounts falling due within one year

(433,416)

(567,066)

Net current assets

 

1,189,251

879,332

Total assets less current liabilities

 

1,914,286

1,636,769

Provisions for liabilities

(119,703)

(118,812)

Net assets

 

1,794,583

1,517,957

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,794,483

1,517,857

Total equity

 

1,794,583

1,517,957

 

Walnut Hill Equine Clinic Limited

(Registration number: 10004745)
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 30 January 2025 and signed on its behalf by:
 

Mr J Wallace

Director

Miss EB Gatehouse

Director

 

Walnut Hill Equine Clinic 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU
Somerset

These financial statements were authorised for issue by the Board on 30 January 2025.

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 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

Motor Vehicles

25% reducing balance

Other intangible assets

10% straight line

Fixtures and fittings

15% reducing balance

 

Walnut Hill Equine Clinic Limited

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

Land and buildings

15% straight line

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 24).

 

Walnut Hill Equine Clinic Limited

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

4

Intangible assets

Total
£

Cost or valuation

At 1 May 2023

250,000

At 30 April 2024

250,000

Amortisation

At 1 May 2023

175,000

Amortisation charge

25,000

At 30 April 2024

200,000

Carrying amount

At 30 April 2024

50,000

At 30 April 2023

75,000

5

Tangible assets

Total
£

Cost or valuation

At 1 May 2023

1,240,235

Additions

214,274

Disposals

(68,525)

At 30 April 2024

1,385,984

Depreciation

At 1 May 2023

557,798

Charge for the year

179,973

Eliminated on disposal

(26,822)

At 30 April 2024

710,949

Carrying amount

At 30 April 2024

675,035

At 30 April 2023

682,437

6

Related party transactions

Advances to directors


Mr J Wallace

During the period Mr J Wallace went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £580 (2023 - £Nil). At the year end the amount outstanding from Mr J Wallace was £Nil (2023 - £Nil). Interest has been charged at the commercial rate.