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REGISTERED NUMBER: 08448613 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Gibbs Marsh Equine Veterinary Limited

Gibbs Marsh Equine Veterinary Limited (Registered number: 08448613)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Gibbs Marsh Equine Veterinary Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Miss A J O'Gorman





SECRETARY: Mr T Weeks





REGISTERED OFFICE: Gibbs Marsh Farm
Stalbridge
Dorset
DT10 2RU





REGISTERED NUMBER: 08448613 (England and Wales)





ACCOUNTANTS: Duncan King FCA
2 MacNeice Drive
Barton Park
Marlborough
Wiltshire
SN8 1TR

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Gibbs Marsh Equine Veterinary Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Gibbs Marsh Equine Veterinary Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, 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 director of Gibbs Marsh Equine Veterinary Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gibbs Marsh Equine Veterinary Limited and state those matters that we have agreed to state to the director of Gibbs Marsh Equine Veterinary Limited 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 Gibbs Marsh Equine Veterinary Limited and its director for our work or for this report.

It is your duty to ensure that Gibbs Marsh Equine Veterinary 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 Gibbs Marsh Equine Veterinary Limited. You consider that Gibbs Marsh Equine Veterinary 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 Gibbs Marsh Equine Veterinary 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.






Duncan King FCA
2 MacNeice Drive
Barton Park
Marlborough
Wiltshire
SN8 1TR


8 August 2024

Gibbs Marsh Equine Veterinary Limited (Registered number: 08448613)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 222,486 254,201

CURRENT ASSETS
Stocks 45,149 50,472
Debtors 5 328,703 368,404
Cash at bank and in hand 171,381 130,045
545,233 548,921
CREDITORS
Amounts falling due within one year 6 162,595 171,244
NET CURRENT ASSETS 382,638 377,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

605,124

631,878

CREDITORS
Amounts falling due after more than one
year

7

(34,727

)

(83,567

)

PROVISIONS FOR LIABILITIES (47,822 ) (48,790 )
NET ASSETS 522,575 499,521

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 522,475 499,421
SHAREHOLDERS' FUNDS 522,575 499,521

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Gibbs Marsh Equine Veterinary Limited (Registered number: 08448613)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 July 2024 and were signed by:





Miss A J O'Gorman - Director


Gibbs Marsh Equine Veterinary Limited (Registered number: 08448613)

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

1. STATUTORY INFORMATION

Gibbs Marsh Equine Veterinary 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 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 represents the net invoiced sales of equine veterinary services, excluding value added tax.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Gibbs Marsh Equine Veterinary Limited (Registered number: 08448613)

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

2. ACCOUNTING POLICIES - continued

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 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 44,331 332,912 377,243
Additions - 34,974 34,974
Disposals - (26,495 ) (26,495 )
At 31 March 2024 44,331 341,391 385,722
DEPRECIATION
At 1 April 2023 8,700 114,342 123,042
Charge for year 4,433 45,298 49,731
Eliminated on disposal - (9,537 ) (9,537 )
At 31 March 2024 13,133 150,103 163,236
NET BOOK VALUE
At 31 March 2024 31,198 191,288 222,486
At 31 March 2023 35,631 218,570 254,201

The net book value of fixed assets at 31 March 2024 includes an amount of £70974 which represents equipment held under finance agreements, the obligations of which are secured by the assets to which they relate.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 95,717 108,601
Other debtors 232,986 259,803
328,703 368,404

Gibbs Marsh Equine Veterinary Limited (Registered number: 08448613)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 27,052 30,875
Trade creditors 32,437 32,738
Taxation and social security 87,214 100,127
Other creditors 15,892 7,504
162,595 171,244

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 34,727 83,567

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Miss A J O'Gorman
Balance outstanding at start of year 217,930 124,628
Amounts advanced 91,855 218,302
Amounts repaid (118,000 ) (125,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 191,785 217,930

Advances to the Director are interest bearing and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss A J O'Gorman.