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Registration number: 07233635

Specialist Veterinary Cardiology Consultancy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Specialist Veterinary Cardiology Consultancy Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Specialist Veterinary Cardiology Consultancy Ltd

(Registration number: 07233635)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

91,452

90,818

Current assets

 

Debtors

6

127,792

62,898

Cash at bank and in hand

 

413,622

453,352

 

541,414

516,250

Creditors: Amounts falling due within one year

7

(92,301)

(122,379)

Net current assets

 

449,113

393,871

Total assets less current liabilities

 

540,565

484,689

Provisions for liabilities

(22,180)

(21,535)

Net assets

 

518,385

463,154

Capital and reserves

 

Called up share capital

100

100

Retained earnings

518,285

463,054

Shareholders' funds

 

518,385

463,154

 

Specialist Veterinary Cardiology Consultancy Ltd

(Registration number: 07233635)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 August 2024 and signed on its behalf by:
 

.........................................
H Ferasin
Director

 

Specialist Veterinary Cardiology Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of veterinary cardiology services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Specialist Veterinary Cardiology Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight line

Plant and Machinery

25% Straight line

Fixtures and Fittings

25% Straight line

Motor Vehicles

20% Straight line

Improvements to Property

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for veterinary cardiology services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Specialist Veterinary Cardiology Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Taxation

2024

2023

£

£

Corporation tax

40,709

55,563

Deferred tax

(242)

(1,108)

40,467

54,455

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Specialist Veterinary Cardiology Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Improvements to property
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

7,792

45,095

29,556

19,587

101,172

203,202

Additions

-

2,808

-

3,318

52,705

58,831

Disposals

-

-

-

-

(50,440)

(50,440)

At 30 April 2024

7,792

47,903

29,556

22,905

103,437

211,593

Depreciation

At 1 May 2023

3,114

20,759

28,734

11,738

48,039

112,384

Charge for the year

1,948

11,567

822

3,148

20,794

38,279

Eliminated on disposal

-

-

-

-

(30,522)

(30,522)

At 30 April 2024

5,062

32,326

29,556

14,886

38,311

120,141

Carrying amount

At 30 April 2024

2,730

15,577

-

8,019

65,126

91,452

At 30 April 2023

4,678

24,336

822

7,849

53,133

90,818

 

Specialist Veterinary Cardiology Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

118,724

55,367

Prepayments

9,068

7,531

 

127,792

62,898

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

81,750

97,186

Other creditors

10,551

25,193

92,301

122,379

8

Related party transactions

Other transactions with directors

L and H Ferasin had loan with the company. At the balance sheet date the amount due to L and H Ferasin was £8,121 (2023: £20,583).