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Stone Court Vets Limited

Financial Statements for the Year Ended 31 May 2024






Stone Court Vets Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: F A Drysdale
J Goddard
J K Ellis





REGISTERED OFFICE: Mill Farm Industrial Estate
St Mellons Road
Lisvane
Cardiff
CF14 0SH





REGISTERED NUMBER: 14133618 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Stone Court Vets Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stone Court Vets Limited for the year ended 31 May 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Stone Court Vets Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stone Court Vets Limited and state those matters that we have agreed to state to the Board of Directors of Stone Court Vets Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stone Court Vets Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Stone Court Vets Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stone Court Vets Limited. You consider that Stone Court Vets Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stone Court Vets Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


19 July 2024

Stone Court Vets Limited (Registered number: 14133618)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 81,083 77,581

CURRENT ASSETS
Stocks 20,499 15,000
Debtors 4 10,597 18,343
Cash at bank 213,598 70,574
244,694 103,917
CREDITORS
Amounts falling due within one year 5 208,650 79,721
NET CURRENT ASSETS 36,044 24,196
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,127

101,777

CREDITORS
Amounts falling due after more than
one year

6

(11,417

)

(33,202

)

PROVISIONS FOR LIABILITIES (20,300 ) (19,400 )
NET ASSETS 85,410 49,175

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 85,404 49,169
85,410 49,175

Stone Court Vets Limited (Registered number: 14133618)

Balance Sheet - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by:




F A Drysdale - Director J Goddard - Director




J K Ellis - Director


Stone Court Vets Limited (Registered number: 14133618)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. 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 - 20% straight line
Fixtures and fittings - 20% straight line
Computer equipment - 20% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, 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 Profit and Loss Account, 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.

Stone Court Vets Limited (Registered number: 14133618)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


1. ACCOUNTING POLICIES - continued

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023 83,209 1,379 2,523 87,111
Additions 20,902 756 - 21,658
At 31 May 2024 104,111 2,135 2,523 108,769
DEPRECIATION
At 1 June 2023 8,972 183 375 9,530
Charge for year 17,259 392 505 18,156
At 31 May 2024 26,231 575 880 27,686
NET BOOK VALUE
At 31 May 2024 77,880 1,560 1,643 81,083
At 31 May 2023 74,237 1,196 2,148 77,581

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,312 -
Other debtors & prepayments 3,285 18,343
10,597 18,343

Stone Court Vets Limited (Registered number: 14133618)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 21,785 20,236
Taxes & social security costs 93,821 1,020
Other creditors & accruals 93,044 58,465
208,650 79,721

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 11,417 33,202

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 33,202 53,438

The hire purchase contracts are secured against the assets to which they relate.