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REGISTERED NUMBER: 07254928 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

HILLS' VETERINARY PRACTICE LIMITED

HILLS' VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07254928)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HILLS' VETERINARY PRACTICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Fiona Hill





REGISTERED OFFICE: C/o Defries Weiss
1 Bridge Lane
London
NW11 0EA





REGISTERED NUMBER: 07254928 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

HILLS' VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07254928)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 129,931 62,844
129,931 62,844

CURRENT ASSETS
Stocks 48,750 54,529
Debtors 6 55,214 43,268
Investments 7 378,964 387,640
Cash at bank and in hand 333,599 406,214
816,527 891,651
CREDITORS
Amounts falling due within one year 8 153,762 151,769
NET CURRENT ASSETS 662,765 739,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

792,696

802,726

PROVISIONS FOR LIABILITIES 31,262 10,809
NET ASSETS 761,434 791,917

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 761,334 791,817
SHAREHOLDERS' FUNDS 761,434 791,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

HILLS' VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07254928)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:





Fiona Hill - Director


HILLS' VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07254928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Hills' Veterinary Practice Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible fixed assets
Goodwill and other intangible fixed assets, which were purchased in connection with the acquisition of a business in 2010, were amortised evenly over their estimated useful lives of seven years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant & machinery20% on reducing balance
Computer equipment25% on reducing balance
Fixtures & fittings25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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. Current or deferred taxation assets and liabilities are not discounted. 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. 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. 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.

HILLS' VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07254928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Pension contributions
Pension contributions are charged to the profit and loss account as and when incurred.

Listed investments
The listed investments are measured at fair value, with changes in fair value recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 865,868 500 866,368
AMORTISATION
At 1 June 2022
and 31 May 2023 865,868 500 866,368
NET BOOK VALUE
At 31 May 2023 - - -
At 31 May 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 279,355
Additions 108,355
At 31 May 2023 387,710
DEPRECIATION
At 1 June 2022 216,511
Charge for year 41,268
At 31 May 2023 257,779
NET BOOK VALUE
At 31 May 2023 129,931
At 31 May 2022 62,844

HILLS' VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07254928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 42,402 35,906
Other debtors 12,812 7,362
55,214 43,268

7. CURRENT ASSET INVESTMENTS
31.5.23 31.5.22
£    £   
Listed investments 378,964 387,640

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 58,650 55,025
Taxation and social security 82,585 85,207
Other creditors 12,527 11,537
153,762 151,769

9. FINANCIAL COMMITMENTS

At the balance sheet date, the company was committed to payments of £21,277 (2022: £30,081) for the hire of medical equipment under a lease expiring on 31 October 2025, of which £8,804 (2022: £8,804) was due within one year. The company was also committed to payments of £3,000 (2022: £3,600) for the hire of medical equipment under a lease expiring on 31 May 2029, of which £600 (2022: £600) was due within one year.