South Wales Farm Vets Limited 10696137 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is the provision of veterinary activities. Digita Accounts Production Advanced 6.30.9574.0 true true 10696137 2022-07-01 2023-06-30 10696137 2023-06-30 10696137 core:RetainedEarningsAccumulatedLosses 2023-06-30 10696137 core:ShareCapital 2023-06-30 10696137 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10696137 bus:SmallEntities 2022-07-01 2023-06-30 10696137 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10696137 bus:FullAccounts 2022-07-01 2023-06-30 10696137 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10696137 bus:RegisteredOffice 2022-07-01 2023-06-30 10696137 bus:Director1 2022-07-01 2023-06-30 10696137 bus:Director2 2022-07-01 2023-06-30 10696137 bus:Director3 2022-07-01 2023-06-30 10696137 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10696137 core:Goodwill 2022-07-01 2023-06-30 10696137 core:FurnitureFittings 2022-07-01 2023-06-30 10696137 core:MotorVehicles 2022-07-01 2023-06-30 10696137 core:OfficeEquipment 2022-07-01 2023-06-30 10696137 core:PlantMachinery 2022-07-01 2023-06-30 10696137 countries:AllCountries 2022-07-01 2023-06-30 10696137 2022-06-30 10696137 2021-07-01 2022-06-30 10696137 2022-06-30 10696137 core:RetainedEarningsAccumulatedLosses 2022-06-30 10696137 core:ShareCapital 2022-06-30 10696137 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 10696137

South Wales Farm Vets Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

South Wales Farm Vets Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

South Wales Farm Vets Limited

(Registration number: 10696137)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

132,000

165,000

Tangible assets

5

37,058

15,838

 

169,058

180,838

Current assets

 

Stocks

6

26,742

33,352

Debtors

154,212

149,702

Cash at bank and in hand

 

290,389

259,752

 

471,343

442,806

Creditors: Amounts falling due within one year

(146,833)

(138,748)

Net current assets

 

324,510

304,058

Total assets less current liabilities

 

493,568

484,896

Provisions for liabilities

(7,483)

(2,923)

Net assets

 

486,085

481,973

Capital and reserves

 

Called up share capital

150

150

Profit and loss account

485,935

481,823

Total equity

 

486,085

481,973

 

South Wales Farm Vets Limited

(Registration number: 10696137)
Abridged Balance Sheet as at 30 June 2023

For the financial year ending 30 June 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 of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 11 November 2023 and signed on its behalf by:
 

Ms R Matthews-Davies

Director

Mrs M Walters

Director

Mrs M Hanks

Director

 

South Wales Farm Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 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:
Ty Newydd Farm
Pendoylan Road
Groesfaen
Pontyclun
CF72 8NE
Wales

These financial statements were authorised for issue by the Board on 11 November 2023.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

South Wales Farm Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture & fittings

10% straight line

Office equipment

25% straight line

Plant & machinery

15% straight line

Motor vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2022 - 11).

4

Intangible assets

Total
£

Cost or valuation

At 1 July 2022

330,000

At 30 June 2023

330,000

Amortisation

At 1 July 2022

165,000

Amortisation charge

33,000

At 30 June 2023

198,000

Carrying amount

At 30 June 2023

132,000

At 30 June 2022

165,000

 

South Wales Farm Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Tangible assets

Total
£

Cost or valuation

At 1 July 2022

29,080

Additions

34,988

At 30 June 2023

64,068

Depreciation

At 1 July 2022

13,242

Charge for the year

13,768

At 30 June 2023

27,010

Carrying amount

At 30 June 2023

37,058

At 30 June 2022

15,838

6

Stocks

2023
£

2022
£

Stock

26,742

33,352