York Vets4Pets Limited 04339264 false 2023-03-31 2024-03-28 2024-03-28 The principal activity of the company is that of the operation of the veterinary surgery at Turner Close, York. Digita Accounts Production Advanced 6.30.9574.0 true true 04339264 2023-03-31 2024-03-28 04339264 2024-03-28 04339264 core:FinanceLeases core:CurrentFinancialInstruments 2024-03-28 04339264 core:FinanceLeases core:Non-currentFinancialInstruments 2024-03-28 04339264 core:CurrentFinancialInstruments 2024-03-28 04339264 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-28 04339264 core:Non-currentFinancialInstruments 2024-03-28 04339264 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-28 04339264 core:BetweenTwoFiveYears 2024-03-28 04339264 core:MoreThanFiveYears 2024-03-28 04339264 core:WithinOneYear 2024-03-28 04339264 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2024-03-28 04339264 1 2024-03-28 04339264 bus:SmallEntities 2023-03-31 2024-03-28 04339264 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-28 04339264 bus:FilletedAccounts 2023-03-31 2024-03-28 04339264 bus:SmallCompaniesRegimeForAccounts 2023-03-31 2024-03-28 04339264 bus:RegisteredOffice 2023-03-31 2024-03-28 04339264 bus:CompanySecretaryDirector1 2023-03-31 2024-03-28 04339264 bus:Director1 2023-03-31 2024-03-28 04339264 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-28 04339264 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-31 2024-03-28 04339264 core:PlantMachinery 2023-03-31 2024-03-28 04339264 1 2023-03-31 2024-03-28 04339264 countries:AllCountries 2023-03-31 2024-03-28 04339264 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-30 04339264 2022-04-01 2023-03-30 04339264 2023-03-30 04339264 core:FinanceLeases core:CurrentFinancialInstruments 2023-03-30 04339264 core:FinanceLeases core:Non-currentFinancialInstruments 2023-03-30 04339264 core:CurrentFinancialInstruments 2023-03-30 04339264 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-30 04339264 core:Non-currentFinancialInstruments 2023-03-30 04339264 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-30 04339264 core:BetweenTwoFiveYears 2023-03-30 04339264 core:MoreThanFiveYears 2023-03-30 04339264 core:WithinOneYear 2023-03-30 04339264 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-30 04339264 1 2023-03-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04339264

York Vets4Pets Limited

Unaudited Filleted Financial Statements

for the Period from 31 March 2023 to 28 March 2024

 

York Vets4Pets Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

York Vets4Pets Limited

Company Information

Directors

H J Trory

Companion Care (Services) Limited

Company secretary

Companion Care (Services) Limited

Registered office

Epsom Avenue
Stanley Green Trading Estate
Handforth
Cheshire
SK9 3RN

 

York Vets4Pets Limited

(Registration number: 04339264)
Balance Sheet as at 28 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

58,872

71,478

Current assets

 

Stocks

5

11,009

10,668

Debtors

6

119,686

69,442

Cash at bank and in hand

 

56,925

1,149

 

187,620

81,259

Creditors: Amounts falling due within one year

7

(241,482)

(322,636)

Net current liabilities

 

(53,862)

(241,377)

Total assets less current liabilities

 

5,010

(169,899)

Creditors: Amounts falling due after more than one year

7

(60,319)

(81,198)

Net liabilities

 

(55,309)

(251,097)

Capital and reserves

 

Called up share capital

10

120

120

Retained earnings

(55,429)

(251,217)

Shareholders' deficit

 

(55,309)

(251,097)

For the financial period ending 28 March 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 period 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 30 August 2024 and signed on its behalf by:
 

.........................................
Companion Care (Services) Limited
Company secretary and director

 

York Vets4Pets Limited

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 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:
Epsom Avenue
Stanley Green Trading Estate
Handforth
Cheshire
SK9 3RN

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.

Accounts are prepared on a 52 week period (2023: 52 week period) resulting in a fluctuating year end between the 25th and 31st March.

Going concern

The directors have considered the factors that impact the company’s future development, performance, cash flows and financial position along with the company’s current liquidity in forming their opinion on the going concern basis. Notwithstanding net current liabilities of £53,862 as at 28 March 2024 the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Revenue recognition

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers in the UK.

Turnover is recognised at point of sale except for turnover derived from care plans, which is recognised on an apportioned basis relative to delivery of the service.

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.

 

York Vets4Pets Limited

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

3 - 10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks stated at the lower of cost and estimated selling price less costs to sell. Stock is recognised as an expense in the period in which the related turnover is recognised.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

York Vets4Pets Limited

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme.

Contributions to the pension scheme are charged to profit or loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 19 (2023 - 22).

 

York Vets4Pets Limited

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024

4

Tangible assets

Furniture, fittings and equipment
£

Cost or valuation

At 31 March 2023

258,448

Additions

2,450

At 28 March 2024

260,898

Depreciation

At 31 March 2023

186,970

Charge for the period

15,056

At 28 March 2024

202,026

Carrying amount

At 28 March 2024

58,872

At 30 March 2023

71,478

Included within the above are fixed assets held under finance leases with a NBV of £2,734 (2023: £4,297).

5

Stocks

2024
£

2023
£

Other inventories

11,009

10,668

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

46,810

-

Amounts owed by related parties

-

11,202

Other debtors

 

72,876

58,240

   

119,686

69,442

 

York Vets4Pets Limited

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

24,918

170,231

Trade creditors

 

74,525

90,365

Amounts owed to related parties

17,963

-

Taxation and social security

 

14,539

41,321

Other creditors

 

109,537

20,719

 

241,482

322,636

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

60,319

81,198

 

York Vets4Pets Limited

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

19,879

Finance lease liabilities

319

1,319

Loans from related parties

60,000

60,000

60,319

81,198

Current loans and borrowings

2024
£

2023
£

Bank borrowings

23,836

44,273

Finance lease liabilities

1,082

2,195

Loans from related parties

-

123,763

24,918

170,231

Bank borrowings

The bank loan is denominated in GBP with a nominal interest rate of 2.25% above the Bank of England base rate , and the final instalment is due on 23 May 2025. The carrying amount at period end is £23,836 (2023 - £64,152).

The bank loan is secured via a personal loan guarantee by H J Trory and a debenture over the company's assets.

Other borrowings

The Companion Care (Services) Limited 'B' Shareholder loan was denominated in GBP with a nominal interest rate of 2.75% above the Bank of England base rate %. The carrying amount at period end is £60,000 (2023 - £60,000).

Companion Care (Services) Limited Operating loan was denominated in GBP with a nominal interest rate of 0%. The carrying amount at period end is £Nil (2023 - £123,763).

The Operating loan was repayable within 90 days on demand.

There is no set date for the repayment of loans due to Companion Care (Services) Limited. Loans due to Companion Care (Services) Limited are repayable following the repayment of any bank loans, when the company is in a net asset position and has available cash balances.

 

York Vets4Pets Limited

Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

33,869

30,240

Later than one year and not later than five years

136,599

151,200

Later than five years

177,973

148,680

348,441

330,120

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

'A' Ordinary of £1 each

60

60

60

60

'B' Ordinary of £1 each

60

60

60

60

120

120

120

120

A shares and B shares constitute separate classes of shares. A shareholders are entitled to receive dividends as declared from time to time. They are also entitled to one vote per share at general meetings of the company and rank below unsecured creditors in the event of a winding up. B shareholders have no entitlement to dividends. They are entitled to one vote per share at general meetings of the company and, in the event of a winding up, rank above A shareholders however are only entitled to receive any outstanding liabilities, they are not entitled to any further distribution of capital.