Denton Vets4Pets Limited 05551964 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 Unit 3, 31 Stockport Road, Denton. Digita Accounts Production Advanced 6.30.9574.0 true true 05551964 2023-03-31 2024-03-28 05551964 2024-03-28 05551964 core:CurrentFinancialInstruments 2024-03-28 05551964 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-28 05551964 core:BetweenTwoFiveYears 2024-03-28 05551964 core:WithinOneYear 2024-03-28 05551964 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2024-03-28 05551964 bus:SmallEntities 2023-03-31 2024-03-28 05551964 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-28 05551964 bus:FilletedAccounts 2023-03-31 2024-03-28 05551964 bus:SmallCompaniesRegimeForAccounts 2023-03-31 2024-03-28 05551964 bus:RegisteredOffice 2023-03-31 2024-03-28 05551964 bus:Director1 2023-03-31 2024-03-28 05551964 bus:Director2 2023-03-31 2024-03-28 05551964 bus:Director3 2023-03-31 2024-03-28 05551964 bus:Director4 2023-03-31 2024-03-28 05551964 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-28 05551964 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-31 2024-03-28 05551964 core:PlantMachinery 2023-03-31 2024-03-28 05551964 countries:AllCountries 2023-03-31 2024-03-28 05551964 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-30 05551964 2022-04-01 2023-03-30 05551964 2023-03-30 05551964 core:CurrentFinancialInstruments 2023-03-30 05551964 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-30 05551964 core:BetweenTwoFiveYears 2023-03-30 05551964 core:WithinOneYear 2023-03-30 05551964 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05551964

Denton Vets4Pets Limited

Unaudited Filleted Financial Statements

for the Period from 31 March 2023 to 28 March 2024

 

Denton Vets4Pets Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Denton Vets4Pets Limited

Company Information

Directors

A Hendershot

S Hendershot

Companion Care (Services) Limited

Vets4Pets (Services) Limited

Registered office

Epsom Avenue
Stanley Green Trading Estate
Handforth
Cheshire
SK9 3RN

 

Denton Vets4Pets Limited

(Registration number: 05551964)
Balance Sheet as at 28 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

35,287

13,270

Current assets

 

Stocks

5

13,894

12,033

Debtors

6

50,587

51,540

Cash at bank and in hand

 

250

273

 

64,731

63,846

Creditors: Amounts falling due within one year

7

(454,214)

(438,302)

Net current liabilities

 

(389,483)

(374,456)

Net liabilities

 

(354,196)

(361,186)

Capital and reserves

 

Called up share capital

10

100

100

Capital contribution reserve

16,379

-

Retained earnings

(370,675)

(361,286)

Shareholders' deficit

 

(354,196)

(361,186)

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
Director

 

Denton 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 £389,483 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.

 

Denton 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.

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.

 

Denton Vets4Pets Limited

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

2

Accounting policies (continued)

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 11 (2023 - 10).

4

Tangible assets

Furniture, fittings and equipment
£

Cost or valuation

At 31 March 2023

226,242

Additions

36,612

At 28 March 2024

262,854

Depreciation

At 31 March 2023

212,972

Charge for the period

14,595

At 28 March 2024

227,567

Carrying amount

At 28 March 2024

35,287

At 30 March 2023

13,270

5

Stocks

2024
£

2023
£

Other inventories

13,894

12,033

 

Denton Vets4Pets Limited

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

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

8,372

-

Amounts owed by related parties

3,013

-

Other debtors

 

39,202

51,540

   

50,587

51,540

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

366,523

312,404

Trade creditors

 

57,056

63,991

Amounts owed to related parties

-

33,682

Taxation and social security

 

12,130

24,384

Other creditors

 

18,505

3,841

 

454,214

438,302

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

150,633

-

Loans from related parties

215,890

312,404

366,523

312,404

 

Denton Vets4Pets Limited

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

8

Loans and borrowings (continued)

Related Party Loan

The Companion Care (Services) Limited Operating loan is denominated in GBP with a nominal interest rate of 0% above the Bank of England Base Rate. The carrying amount at period end is £155,890 (2023 - £252,404).

This loan is repayable on demand within 90 days

B Shareholder loan is 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 £30,000 (2023 - £30,000).

Partner loan is denominated in GBP with a nominal interest rate of 0% above the Bank of England Base Rate. The carrying amount at period end is £30,000 (2023 - £30,000).

There is no set date for the repayment of loans due to the Directors and Companion Care (Services) Limited. Loans due to the Directors and 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.

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

34,385

34,385

Later than one year and not later than five years

76,118

117,482

110,503

151,867

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

'A' Ordinary of £1 each

50

50

50

50

'B' Ordinary of £1 each

50

50

50

50

100

100

100

100

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.