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GRANGE VETS LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31st October 2017 |
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GRANGE VETS LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31st October 2017 |
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GRANGE VETS LIMITED (REGISTERED NUMBER: 06410566) |
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Contents of the Financial Statements |
for the year ended 31st October 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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GRANGE VETS LIMITED |
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Company Information |
for the year ended 31st October 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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GRANGE VETS LIMITED (REGISTERED NUMBER: 06410566) |
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Balance Sheet |
31st October 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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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. |
GRANGE VETS LIMITED (REGISTERED NUMBER: 06410566) |
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Balance Sheet - continued |
31st October 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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GRANGE VETS LIMITED (REGISTERED NUMBER: 06410566) |
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Notes to the Financial Statements |
for the year ended 31st October 2017 |
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1. | STATUTORY INFORMATION |
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Grange Vets Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates. |
The areas in the financial statements where these judgements and estimates have been made include: |
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The useful lives of property, plant and equipment which are estimated based on the period over which the |
assets are expected to be available for use. The estimated useful lives are reviewed periodically and are |
updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial |
obsolescence and legal or other limits on the use of the relevant assets. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Financial instruments |
Debtors, creditors, directors loan (being repayable on demand) and inter company loans (being repayable on |
demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or |
received. |
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GRANGE VETS LIMITED (REGISTERED NUMBER: 06410566) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2017 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that |
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st November 2016 |
and 31st October 2017 |
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AMORTISATION |
At 1st November 2016 |
and 31st October 2017 |
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NET BOOK VALUE |
At 31st October 2017 |
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At 31st October 2016 |
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GRANGE VETS LIMITED (REGISTERED NUMBER: 06410566) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st November 2016 |
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Additions |
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At 31st October 2017 |
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DEPRECIATION |
At 1st November 2016 |
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Charge for year |
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At 31st October 2017 |
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NET BOOK VALUE |
At 31st October 2017 |
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At 31st October 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1st November 2016 |
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Profit for the year |
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Dividends | ( |
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At 31st October 2017 |
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GRANGE VETS LIMITED (REGISTERED NUMBER: 06410566) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2017 |
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9. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £120,000 were paid to the directors . |
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Included in creditors is an amount of £9,917 (2016 £9,864)- owing to the directors, split as follows: |
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A Wignall £53 (2016- nil) |
V Wignall £9,864 (2016-£9,864) |
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10. | FIRST TIME ADOPTION OF FRS102 |
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The policies applied under the entity's previous accounting framework are not materially different to FRS102- |
Section 1A and have not impacted on equity or profit or loss. |