IRIS Accounts Production v24.1.9.2 10208531 director 1.11.22 31.10.23 31.10.23 false true false false true false A Shares 1.00000 B Shares 1.00000 C Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh102085312022-10-31102085312023-10-31102085312022-11-012023-10-31102085312021-10-31102085312021-11-012022-10-31102085312022-10-3110208531ns15:EnglandWales2022-11-012023-10-3110208531ns14:PoundSterling2022-11-012023-10-3110208531ns10:Director12022-11-012023-10-3110208531ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3110208531ns10:SmallEntities2022-11-012023-10-3110208531ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3110208531ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3110208531ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3110208531ns10:FullAccounts2022-11-012023-10-3110208531ns10:OrdinaryShareClass12022-11-012023-10-3110208531ns10:OrdinaryShareClass22022-11-012023-10-3110208531ns10:OrdinaryShareClass32022-11-012023-10-3110208531ns10:RegisteredOffice2022-11-012023-10-3110208531ns5:CurrentFinancialInstruments2023-10-3110208531ns5:CurrentFinancialInstruments2022-10-3110208531ns5:Non-currentFinancialInstruments2023-10-3110208531ns5:Non-currentFinancialInstruments2022-10-3110208531ns5:ShareCapital2023-10-3110208531ns5:ShareCapital2022-10-3110208531ns5:RetainedEarningsAccumulatedLosses2023-10-3110208531ns5:RetainedEarningsAccumulatedLosses2022-10-3110208531ns5:PlantMachinery2022-11-012023-10-3110208531ns5:LandBuildings2022-10-3110208531ns5:PlantMachinery2022-10-3110208531ns5:LandBuildings2022-11-012023-10-3110208531ns5:LandBuildings2023-10-3110208531ns5:PlantMachinery2023-10-3110208531ns5:LandBuildings2022-10-3110208531ns5:PlantMachinery2022-10-3110208531ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3110208531ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3110208531ns5:Secured2023-10-3110208531ns5:Secured2022-10-3110208531ns10:OrdinaryShareClass12023-10-3110208531ns10:OrdinaryShareClass22023-10-3110208531ns10:OrdinaryShareClass32023-10-31
REGISTERED NUMBER: 10208531 (England and Wales)















PRIORY VETERINARY PRACTICE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






PRIORY VETERINARY PRACTICE LTD (REGISTERED NUMBER: 10208531)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


PRIORY VETERINARY PRACTICE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Mrs C V Sandall





REGISTERED OFFICE: Priory Veterinary Practice Ltd
Uffington Road
Stamford
PE9 2BF





REGISTERED NUMBER: 10208531 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

PRIORY VETERINARY PRACTICE LTD (REGISTERED NUMBER: 10208531)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 485,250 489,047

CURRENT ASSETS
Stocks 22,802 20,063
Debtors 5 298,013 36,487
Cash at bank and in hand 382,731 229,228
703,546 285,778
CREDITORS
Amounts falling due within one year 6 339,879 241,583
NET CURRENT ASSETS 363,667 44,195
TOTAL ASSETS LESS CURRENT LIABILITIES 848,917 533,242

CREDITORS
Amounts falling due after more than one year 7 (218,815 ) (202,500 )

PROVISIONS FOR LIABILITIES (12,107 ) (9,586 )
NET ASSETS 617,995 321,156

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 617,795 320,956
SHAREHOLDERS' FUNDS 617,995 321,156

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 25 July 2024 and were signed by:





Mrs C V Sandall - Director


PRIORY VETERINARY PRACTICE LTD (REGISTERED NUMBER: 10208531)

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

1. STATUTORY INFORMATION

Priory Veterinary Practice Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 20% on reducing balance, 15% on reducing balance and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

PRIORY VETERINARY PRACTICE LTD (REGISTERED NUMBER: 10208531)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 429,816 151,334 581,150
Additions 350 6,725 7,075
At 31 October 2023 430,166 158,059 588,225
DEPRECIATION
At 1 November 2022 - 92,103 92,103
Charge for year - 10,872 10,872
At 31 October 2023 - 102,975 102,975
NET BOOK VALUE
At 31 October 2023 430,166 55,084 485,250
At 31 October 2022 429,816 59,231 489,047

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 46,700 33,962
Other debtors 251,313 2,525
298,013 36,487

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,058 22,500
Payments on account 10,597 11,127
Trade creditors 48,814 19,879
Taxation and social security 181,869 91,008
Other creditors 93,541 97,069
339,879 241,583

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 218,815 202,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 194,159 112,500

PRIORY VETERINARY PRACTICE LTD (REGISTERED NUMBER: 10208531)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 223,873 -

The bank loan is secured by a fixed charge against the freehold property owned by the company, along with a floating charge against the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 A Shares £1 50 50
50 B Shares £1 50 50
100 C Shares £1 100 100
200 200

10. OTHER FINANCIAL COMMITMENTS

The company has the following commitments due as follows:

20232022
££

Due in less than one year13,95213,952
Due between two and five years26,74041,855
Due in more than 5 years--
40,69255,807