Company Registration No. 10855802 (England and Wales)
Island Vetcare Ltd
Unaudited accounts
for the year ended 31 July 2020
Island Vetcare Ltd
Unaudited accounts
Contents
Island Vetcare Ltd
Company Information
for the year ended 31 July 2020
Directors
Mr Ian Nicholson
Mr Matthew Twitchett
Company Number
10855802 (England and Wales)
Registered Office
Brading Road
Ryde
Isle of Wight
PO33 1QG
Accountants
Babcock Tax and Accountancy Services Ltd
Unit 43, Basepoint Havant
Harts Farm Way
Havant
Hampshire
PO9 1HS
Island Vetcare Ltd
Statement of financial position
as at
31 July 2020
Tangible assets
402,641
175,717
Inventories
51,927
15,888
Cash at bank and in hand
165,425
106,299
Creditors: amounts falling due within one year
(158,553)
(114,083)
Net current assets
103,441
23,637
Total assets less current liabilities
506,082
199,354
Creditors: amounts falling due after more than one year
(225,574)
(55,157)
Provisions for liabilities
Net assets
243,520
144,197
Called up share capital
100
100
Profit and loss account
243,420
144,097
Shareholders' funds
243,520
144,197
For the year ending 31 July 2020 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2020 and were signed on its behalf by
Mr Ian Nicholson
Director
Company Registration No. 10855802
Island Vetcare Ltd
Notes to the Accounts
for the year ended 31 July 2020
Island Vetcare Ltd is a private company, limited by shares, registered in England and Wales, registration number 10855802. The registered office is Brading Road, Ryde, Isle of Wight, PO33 1QG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Improvements to property - in accordance with the property
Plant & Machinery - 10% on reducing balance
Fixtures & Fittings - 10% on reducing balance
Computer Equipment - 33% on cost
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2019
119,317
87,878
6,836
3,764
217,795
Additions
123,935
113,509
7,948
4,669
250,061
At 31 July 2020
243,252
201,387
14,784
8,433
467,856
At 1 August 2019
23,354
15,657
1,102
1,965
42,078
Charge for the year
11,932
7,222
1,172
2,811
23,137
At 31 July 2020
35,286
22,879
2,274
4,776
65,215
At 31 July 2020
207,966
178,508
12,510
3,657
402,641
At 31 July 2019
95,963
72,221
5,734
1,799
175,717
Raw materials
51,927
15,888
Island Vetcare Ltd
Notes to the Accounts
for the year ended 31 July 2020
Trade debtors
23,497
14,875
Accrued income and prepayments
10,115
-
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
20,265
6,000
Obligations under finance leases and hire purchase contracts
26,953
15,382
Trade creditors
58,557
30,228
Taxes and social security
17,234
9,383
Loans from directors
20,000
-
8
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
166,953
14,500
Obligations under finance leases and hire purchase contracts
58,621
40,657
9
Average number of employees
During the year the average number of employees was 18 (2019: 18).