REGISTERED NUMBER: 06656118 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2013

FOR

ABBEY VETS (READING) LIMITED

TRADING AS

ABBEY VETERINARY GROUP

Page

Company Information

1

Accountants' Report

2

Abbreviated Balance Sheet

3

to

4

Notes to the Abbreviated Accounts

5

to

7

DIRECTORS:

Mr P A Cockett

Mrs D Cockett

SECRETARY:

Mrs D Cockett

REGISTERED OFFICE:

Callan

Courtlands Hill

Pangbourne

Berkshire

RG8 7BE

REGISTERED NUMBER:

06656118 (England and Wales)

ACCOUNTANTS:

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages three to seven) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Abbey Vets (Reading) Limited for the year ended 31 October 2013

which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company'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

icaew.com/membershandbook.

This report is made solely to the Board of Directors of Abbey Vets (Reading) Limited, as a body, in

accordance with our terms of engagement. Our work has been undertaken solely to prepare for your

approval the financial statements of Abbey Vets (Reading) Limited and state those matters that we have

agreed to state to the Board of Directors of Abbey Vets (Reading) Limited, as a body, in this report in

accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we

do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a

body, for our work or for this report.

It is your duty to ensure that Abbey Vets (Reading) Limited has kept adequate accounting records and to

prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial

position and loss of Abbey Vets (Reading) Limited. You consider that Abbey Vets (Reading) Limited is

exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Abbey Vets

(Reading) Limited. 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 financial statements.

Seymour Taylor Audit Limited

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

19 May 2014

FIXED ASSETS

Intangible assets

2

85,715

128,572

Tangible assets

3

14,112

17,271

99,827

145,843

CURRENT ASSETS

Stocks

26,900

39,640

Debtors

8,170

9,706

Cash in hand

118

145

35,188

49,491

CREDITORS

Amounts falling due within one year

4

202,818

242,911

NET CURRENT LIABILITIES

(167,630

)

(193,420

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(67,803

)

(47,577

)

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

(67,903

)

(47,677

)

SHAREHOLDERS' FUNDS

(67,803

)

(47,577

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 19 May 2014 and were signed on its behalf by:

Mr P A Cockett - 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 and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of seven years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to leasehold property

-

reducing balance - 25%

Plant and machinery

-

reducing balance - 25%

Computer and equipment

-

reducing balance - 25%

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. Timing differences are differences between the taxable profits and the results

as stated in the financial statements that arise from the inclusion of gains and losses in tax

assessments in periods different from those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable, and therefore recognised, only when it can be

regarded as more likely than not that there will be suitable taxable profits from which the future

reversal of underlying timing differences can be deducted.

Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there

is a binding agreement to sell the revalued assets and the asset has been revalued to selling price.

Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the

taxable gain will be rolled over, being charged to tax only if and when the replacement assets are

sold.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply

in the periods in which the timing differences are expected to reverse, based on tax rates and laws

enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity

instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to

a similar debt instrument, those financial instruments are classified as financial liabilities. Financial

liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to

financial liabilities are included in the profit and loss account. Financial costs are calculated so as to

produce a constant rate of return on the outstanding liability.

Where contractual terms of share capital do not have any terms meeting the definition of financial

liability then this is classified as an equity instrument. Dividends and distributions relating to equity

instruments are debited directly to equity.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2012

and 31 October 2013

300,000

AMORTISATION

At 1 November 2012

171,428

Amortisation for year

42,857

At 31 October 2013

214,285

NET BOOK VALUE

At 31 October 2013

85,715

At 31 October 2012

128,572

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2012

52,277

Additions

1,222

At 31 October 2013

53,499

DEPRECIATION

At 1 November 2012

35,006

Charge for year

4,381

At 31 October 2013

39,387

NET BOOK VALUE

At 31 October 2013

14,112

At 31 October 2012

17,271

4.

CREDITORS

Creditors include an amount of £ 46,216 (2012 - £ 27,548 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

100

Ordinary

£1

100

100