Company Registration No. 13979416 (England and Wales)
THE GUILDFORD VET LIMITED
Unaudited accounts
for the period from 16 March 2022 to 31 March 2023
THE GUILDFORD VET LIMITED
Unaudited accounts
Contents
THE GUILDFORD VET LIMITED
Company Information
for the period from 16 March 2022 to 31 March 2023
Directors
GRAY, Christian Andrew
GRAY, Lucille Gracie Sally
PATTINSON, Robert Edward
Company Number
13979416 (England and Wales)
Registered Office
LONGFREY COTTAGE DORKING ROAD
CHILWORTH
GUILDFORD
GU4 8RH
ENGLAND
Accountants
Surrey Hills Accountancy Limited
The Old Workshop
Longfrey Cottage
Dorking Road
Chilworth
GU4 8RH
THE GUILDFORD VET LIMITED
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
95,759
Creditors: amounts falling due within one year
(105,273)
Total assets less current liabilities
421,176
Creditors: amounts falling due after more than one year
(512,726)
Profit and loss account
(91,550)
Shareholders' funds
(91,550)
For the period ending 31 March 2023 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 16 October 2023 and were signed on its behalf by
GRAY, Christian Andrew
Director
Company Registration No. 13979416
THE GUILDFORD VET LIMITED
Notes to the Accounts
for the period from 16 March 2022 to 31 March 2023
THE GUILDFORD VET LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13979416. The registered office is LONGFREY COTTAGE DORKING ROAD, CHILWORTH , GUILDFORD, GU4 8RH, ENGLAND.
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 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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures & fittings
15% SL
Other tangible fixed assets
20% SL
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
THE GUILDFORD VET LIMITED
Notes to the Accounts
for the period from 16 March 2022 to 31 March 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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 16 March 2022
-
177,187
-
9,253
186,440
Additions
114,575
-
101,759
-
216,334
At 31 March 2023
114,575
177,187
101,759
9,253
402,774
At 16 March 2022
-
22,465
-
1,639
24,104
Charge for the period
2,766
-
10,921
-
13,687
At 31 March 2023
2,766
22,465
10,921
1,639
37,791
At 31 March 2023
111,809
154,722
90,838
7,614
364,983
Amounts falling due within one year
Accrued income and prepayments
7,678
Amounts falling due after more than one year
Amounts due from group undertakings etc.
18,979
6
Creditors: amounts falling due within one year
2023
Taxes and social security
64
Loans from directors
42,908
7
Creditors: amounts falling due after more than one year
2023
Amounts owed to group undertakings and other participating interests
512,726
THE GUILDFORD VET LIMITED
Notes to the Accounts
for the period from 16 March 2022 to 31 March 2023
8
Transactions with related parties
During the year under review, the company has paid rent of £35,000 to WILD DAISIES LIMITED, shareholders of the company, for use of freehold property by the company, which is owned by them.
The lease is under formal contract terms and has an independently verified rent review period every one year.
WILD DAISIES LIMITED, the shareholder of the company has given a loan to the company of £512,726.30.
The terms of the loan confirm that:
(a) the Loan may be prepaid at any time but otherwise shall be repaid in quarterly instalments commencing on the first 1 January, 1 April, 1 July or 1 October (each, a “Quarter Day”) following the date on which the accountant to the Company determines that the Company has made a profit (“Profit Date”) and on each Quarter Day thereafter until the Loan has been fully repaid (each such date, a “Payment Date”);
(b) such instalments are intended to repay the Loan within ten years following the date of the Agreement so shall be calculated as:
Total Loan ÷ the number of Payment Dates between the Profit Date and 6 June 2032;
(c) the Loan will carry interest for each 12 month period (commencing with the date on which any part of the Loan is first made, “the Loan Date”) at the percentage rate which is equal to the percentage rate of consumer price inflation in the 12 month period ending on the anniversary next following the relevant 12 month period of the last day of the month of the Loan Date;
(d) that rate shall be that published on the website of the Office of National Statistics (or such body as succeeds it from time to time);
(e) the interest shall be paid on each Payment Date and calculated on each Payment Date as:
Total interest then due ÷ the number of Payment Dates (including the present one) until 6 June 2032;
In the year, a management charge was paid to the WIld Daisies, the shareholder of the company worth 10% of the company's turnover.
Salaries paid to directors equals £35,082.05 Gross which was a fair market renumeration.
Name: WILD DAISIES LIMITED
Company number: 11700368
Registered Office: High Loxley Dunsfold Road, Loxhill, Godalming, Surrey, England, GU8 4BW
25 Ordinary A
25 Ordinary B
10
Average number of employees
During the period the average number of employees was 7.