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Registration number: OC426380

Nantwich Equine Vets LLP

Unaudited Filleted Financial Statements

for the period from 1 May 2023 to 31 March 2024

 

Nantwich Equine Vets LLP

Contents

Limited liability partnership information

1

Accountants' Report

2

Financial Statements

3 to 6

Balance Sheet

3

Notes to the Financial Statements

4

 

Nantwich Equine Vets LLP

Limited liability partnership information


 

Designated members

Mr C.J. Thompson BVM&S MRCVS

Mr A.J.M. Topp BVM&S CertAVP(EOS) MRCVS
 


 

Registered office

The Equine Centre
Chester Road
Hurleston
Nantwich
CW5 6BU


 

Accountants

Farrar Smith
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

 

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Nantwich Equine Vets LLP
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Nantwich Equine Vets LLP for the period ended 31 March 2024 set out on pages 3 to 6 from the limited liability partnership's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Nantwich Equine Vets LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Nantwich Equine Vets LLP and state those matters that we have agreed to state to the members of Nantwich Equine Vets LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nantwich Equine Vets LLP and its members as a body for our work or for this report.

It is your duty to ensure that Nantwich Equine Vets LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Nantwich Equine Vets LLP. You consider that Nantwich Equine Vets LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Nantwich Equine Vets LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Farrar Smith
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

19 November 2024

 

Nantwich Equine Vets LLP

(Registration number: OC426380)
Balance Sheet as at 31 March 2024

Note

31 March 2024
 £

30 April 2023
 £

           

Fixed assets

   

 

Tangible assets

3

 

129,290

 

88,488

Current assets

   

 

Stocks

88,425

 

78,052

 

Debtors

4

191,630

 

238,524

 

Cash and short-term deposits

 

63,708

 

92,702

 

 

343,763

 

409,278

 

Creditors: Amounts falling due within one year

6

(145,425)

 

(161,711)

 

Net current assets

   

198,338

 

247,567

Net assets attributable to members

   

327,628

 

336,055

Represented by:

   

 

Loans and other debts due to members

   

 

Members' capital classified as a liability

 

327,628

 

336,055

 
     

327,628

 

336,055

Total members' interests

   

 

Loans and other debts due to members

 

327,628

 

336,055

 
     

327,628

 

336,055

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Nantwich Equine Vets LLP (registered number OC426380) were approved by the Board and authorised for issue on 19 November 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr C.J. Thompson BVM&S MRCVS
Designated member

 

Nantwich Equine Vets LLP

Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been 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.

General information and basis of accounting

The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention.

The functional currency of Nantwich Equine Vets LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates and VAT.

Members' remuneration and division of profits

Members' fixed shares of profits are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and equipment

- 25% reducing balance

Motor vehicles

- 25% reducing balance

Office equipment

- 25% straight line

 

Nantwich Equine Vets LLP

Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 11 (2023 - 11).

3

Tangible fixed assets

Plant and machinery
 £

Motor vehicles
 £

Office equipment
 £

Total
£

Cost

At 1 May 2023

159,666

17,354

7,066

184,086

Additions

41,839

26,041

2,788

70,668

Disposals

-

(3,100)

-

(3,100)

At 31 March 2024

201,505

40,295

9,854

251,654

Depreciation

At 1 May 2023

83,734

11,864

-

95,598

Charge for the year

24,135

2,784

2,089

29,008

Eliminated on disposals

-

(2,242)

-

(2,242)

At 31 March 2024

107,869

12,406

2,089

122,364

Net book value

At 31 March 2024

93,636

27,889

7,765

129,290

At 30 April 2023

75,932

5,490

7,066

88,488

 

Nantwich Equine Vets LLP

Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024

4

Stocks

2024
£

2023
£

Stocks

88,425

78,052

5

Debtors

31 March 2024
 £

30 April 2023
 £

Trade debtors

144,139

193,668

Prepayments and accrued income

47,491

44,856

191,630

238,524

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

83,091

87,492

Accruals and deferred income

25,373

23,803

Taxation and social security

36,961

50,416

145,425

161,711