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Registration number: 11268952

Abbeywell Veterinary Clinic Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Abbeywell Veterinary Clinic Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Abbeywell Veterinary Clinic Limited

(Registration number: 11268952)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

72,159

84,554

Current assets

 

Stocks

6

41,341

46,994

Debtors

378,756

378,416

Cash at bank and in hand

 

501,968

371,865

 

922,065

797,275

Creditors: Amounts falling due within one year

7

(304,622)

(303,669)

Net current assets

 

617,443

493,606

Total assets less current liabilities

 

689,602

578,160

Creditors: Amounts falling due after more than one year

8

(12,333)

(46,990)

Provisions for liabilities

(10,382)

(8,764)

Net assets

 

666,887

522,406

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

666,787

522,306

Total equity

 

666,887

522,406

 

Abbeywell Veterinary Clinic Limited

(Registration number: 11268952)
Abridged Balance Sheet as at 31 March 2024

For the financial 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 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

Mr D Brook

Director

Mr M Nikolaou

Director

 

Abbeywell Veterinary Clinic Limited

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

1

General information

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

The address of its registered office is:
2-3 Majestic Parade
Sandgate Road
Folkestone
CT20 2BZ

These financial statements were authorised for issue by the Board on 3 September 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have agreed to continue to support the company for at least a period of 12 months after signing the accounts.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Abbeywell Veterinary Clinic Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Plant and machinery

10% Straight line

Fixtures and fittings

20% Straight line

Motor vehicles

25% Reducing balance

Office equipment

10% Straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

4

Intangible assets

Total
£

Cost or valuation

At 1 April 2023

10,000

At 31 March 2024

10,000

Amortisation

At 1 April 2023

10,000

At 31 March 2024

10,000

Carrying amount

At 31 March 2024

-

 

Abbeywell Veterinary Clinic Limited

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

5

Tangible assets

Total
£

Cost or valuation

At 1 April 2023

147,913

Additions

2,516

Disposals

(1,027)

At 31 March 2024

149,402

Depreciation

At 1 April 2023

63,359

Charge for the year

14,667

Eliminated on disposal

(783)

At 31 March 2024

77,243

Carrying amount

At 31 March 2024

72,159

At 31 March 2023

84,554

6

Stocks

2024
£

2023
£

Stock

41,341

46,994

7

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £47,940 (2023 - £43,900).

8

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £12,333 (2023 - £46,990).