Company Registration No. 11772991 (England and Wales)
Good Care Veterinary Services Limited
Unaudited accounts
for the year ended 31 March 2024
Good Care Veterinary Services Limited
Unaudited accounts
Contents
Good Care Veterinary Services Limited
Company Information
for the year ended 31 March 2024
Directors
Dr N.T.Paveley
Dr C.S.Finch
Company Number
11772991 (England and Wales)
Registered Office
21 Orchard Avenue
Southgate
London
N14 4NB
United Kingdom
Good Care Veterinary Services Limited
Statement of financial position
as at 31 March 2024
Tangible assets
147,420
170,723
Cash at bank and in hand
98,981
156,244
Creditors: amounts falling due within one year
(137,511)
(159,730)
Net current (liabilities)/assets
(9,279)
21,783
Total assets less current liabilities
138,141
192,506
Creditors: amounts falling due after more than one year
(108,452)
(124,824)
Provisions for liabilities
Deferred tax
(18,423)
(21,137)
Called up share capital
100
100
Profit and loss account
11,166
46,445
Shareholders' funds
11,266
46,545
For the year ending 31 March 2024 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 10 July 2024 and were signed on its behalf by
Dr N.T.Paveley
Director
Company Registration No. 11772991
Good Care Veterinary Services Limited
Notes to the Accounts
for the year ended 31 March 2024
Good Care Veterinary Services Limited is a private company, limited by shares, registered in England and Wales, registration number 11772991. The registered office is 21 Orchard Avenue, Southgate, London, N14 4NB, United Kingdom.
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 remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
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.
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:
Land & buildings
10% straight line
Plant & machinery
10% straight line
Motor vehicles
25% straight line
Fixtures & fittings
10% straight line
Computer equipment
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Good Care Veterinary Services Limited
Notes to the Accounts
for the year ended 31 March 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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. The company makes payments into the defined contribution personal pensions schemes of the directors. Contributions payable are recognised in the profit and loss account when paid.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2023
124,452
95,502
5,830
11,107
7,041
243,932
Additions
-
911
-
421
1,422
2,754
At 31 March 2024
124,452
96,413
5,830
11,528
8,463
246,686
At 1 April 2023
38,279
24,928
2,467
3,402
4,133
73,209
Charge for the year
12,445
9,641
1,458
1,153
1,360
26,057
At 31 March 2024
50,724
34,569
3,925
4,555
5,493
99,266
At 31 March 2024
73,728
61,844
1,905
6,973
2,970
147,420
At 31 March 2023
86,173
70,574
3,363
7,705
2,908
170,723
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
20,294
Amounts falling due within one year
Accrued income and prepayments
1,508
211
Good Care Veterinary Services Limited
Notes to the Accounts
for the year ended 31 March 2024
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
20,300
20,300
Obligations under finance leases and hire purchase contracts
-
6,724
Trade creditors
19,745
34,546
Taxes and social security
54,048
60,956
The hire purchase creditor is secured on the asset it is financing.
The bank loan is secured by a fixed and floating charge on the company`s assets.
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Creditors: amounts falling due after more than one year
2024
2023
Bank loans
108,452
124,824
Aggregate of amounts that fall due for payment after five years
17,387
37,687
The hire purchase creditor is secured on the asset it is financing.
The bank loan is secured by a fixed and floating charge on the company`s assets.
8
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than five years
19,000
19,000
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Transactions with related parties
The balances on the directors` current accounts with the company at the balance sheet date were: Dr N.T.Paveley £Nil (2023: £Nil); Dr C.S.Finch £Nil (2023: £Nil).
During the year, dividends amounting to £90,000 were declared payable to NTP Ventures Ltd. At the balance sheet date, the company owed NTP Ventures Ltd £Nil (2023: £Nil). Dr N.T. Paveley is a director and 100% shareholder of NTP Ventures Ltd, and a director of Good Care Veterinary Services Ltd. During the year, dividends amounting to £90,000 were declared payable to CS Day Ltd. At the balance sheet date, the company owed CS Day Ltd £Nil (2023: £Nil). Dr C.S.Finch is a director and 100% shareholder of CS Day Ltd, and a director of Good Care Veterinary Services Ltd.
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Average number of employees
During the year the average number of employees was 10 (2023: 9).