Abbeydale Vets Limited - Limited company - abbreviated

REGISTERED NUMBER: 06974736 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH JUNE 2015

FOR

ABBEYDALE VETS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G M Gabbutt

REGISTERED OFFICE:

91 Preston New Road

Blackburn

Lancashire

BB2 6AY

REGISTERED NUMBER:

06974736 (England and Wales)

ACCOUNTANTS:

Ainsworths Limited

Chartered Accountants

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

FIXED ASSETS

Intangible assets

2

-

9,508

Tangible assets

3

197,883

127,565

197,883

137,073

CURRENT ASSETS

Stocks

78,395

61,371

Debtors

63,520

69,127

Cash at bank and in hand

110,879

118,010

252,794

248,508

CREDITORS

Amounts falling due within one year

4

169,370

176,031

NET CURRENT ASSETS

83,424

72,477

TOTAL ASSETS LESS CURRENT
LIABILITIES

281,307

209,550

CREDITORS

Amounts falling due after more than one
year

4

(1,333

)

(5,334

)

PROVISIONS FOR LIABILITIES

(21,033

)

(6,716

)

NET ASSETS

258,941

197,500

CAPITAL AND RESERVES

Called up share capital

5

4

Profit and loss account

258,937

197,496

SHAREHOLDERS' FUNDS

258,941

197,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27th August 2015 and were signed by:

G M Gabbutt - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

2% on cost

Veterinary equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2014

and 30th June 2015

190,198

AMORTISATION

At 1st July 2014

180,690

Amortisation for year

9,508

At 30th June 2015

190,198

NET BOOK VALUE

At 30th June 2015

-

At 30th June 2014

9,508

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2014

195,765

Additions

91,523

Disposals

(28,165

)

At 30th June 2015

259,123

DEPRECIATION

At 1st July 2014

68,200

Charge for year

10,065

Eliminated on disposal

(17,025

)

At 30th June 2015

61,240

NET BOOK VALUE

At 30th June 2015

197,883

At 30th June 2014

127,565

4.

CREDITORS

Creditors include an amount of £ 3,166 (30.6.14 - £ 9,667 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

4

Ordinary

£1

4

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year dividends of £77,000 (2014: £114,000) were paid on equity capital to the director G M Gabbutt

by the company.

In addition the company rented property at a commercial arms length basis and without a formal lease agreement

for £39,000 (2014: £39,000) (excluding value added tax) from the director G M Gabbutt.

As at 30th June 2015 the company owed £40,372 (2014: £195) to G M Gabbutt, a director of the company. Such

loans are unsecured, interest free and are repayable on demand.