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Registration number: 08913266

Visiting Vet Specialists Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 28 February 2023

 

Visiting Vet Specialists Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Visiting Vet Specialists Ltd

(Registration number: 08913266)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

13,558

 

4,641

Current assets

   

 

Debtors

5

358,312

 

358,653

 

Cash at bank and in hand

 

614,927

 

562,554

 

 

973,239

 

921,207

 

Creditors: Amounts falling due within one year

6

(173,870)

 

(217,462)

 

Net current assets

   

799,369

 

703,745

Total assets less current liabilities

   

812,927

 

708,386

Provisions for liabilities

 

(3,389)

 

(883)

Net assets

   

809,538

 

707,503

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

809,537

 

707,502

 

Total equity

   

809,538

 

707,503

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 October 2023
 

.........................................
Miss C. Sturgeon
Director

 

Visiting Vet Specialists Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
11 Fusion Court
Garforth
Leeds
LS25 2GH
United Kingdom

These financial statements were authorised for issue by the director on 21 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Visiting Vet Specialists Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

15% straight line

Computer equipment

25% straight line

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

3,666

14,904

18,570

Additions

833

10,573

11,406

At 28 February 2023

4,499

25,477

29,976

Depreciation

At 1 March 2022

3,666

10,263

13,929

Charge for the year

208

2,281

2,489

At 28 February 2023

3,874

12,544

16,418

 

Visiting Vet Specialists Ltd

Notes to the Unaudited Financial Statements For The Year Ended 28 February 2023

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Carrying amount

At 28 February 2023

625

12,933

13,558

At 28 February 2022

-

4,641

4,641

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

32,257

32,532

Amounts owed by related parties

325,000

325,000

Prepayments

 

1,055

1,121

   

358,312

358,653

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

52,984

63,004

Other creditors

120,886

154,458

173,870

217,462