Registered number
11751612
Bury St Edmunds Veterinary Centre Limited
Filleted Accounts
31 March 2024
Bury St Edmunds Veterinary Centre Limited
Registered number: 11751612
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 145,479 204,973
Current assets
Stocks 88,958 52,852
Debtors 4 77,240 74,920
Cash at bank and in hand 511,840 387,636
678,038 515,408
Creditors: amounts falling due within one year 5 (321,993) (259,093)
Net current assets 356,045 256,315
Total assets less current liabilities 501,524 461,288
Creditors: amounts falling due after more than one year 6 (92,750) (125,572)
Net assets 408,774 335,716
Capital and reserves
Called up share capital 2 2
Share premium 70,000 70,000
Profit and loss account 338,772 265,714
Shareholders' funds 408,774 335,716
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Reason
Director
Approved by the board on 11 September 2024
Bury St Edmunds Veterinary Centre Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of work provided
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the 10 years of the lease term
Motor vehicles over 5 years
Plant and machinery over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments as it is not considered material
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to contribution based plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 26 19
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 170,387 161,796 34,986 367,169
Additions - - - -
At 31 March 2024 170,387 161,796 34,986 367,169
Depreciation
At 1 April 2023 68,155 87,049 6,992 162,196
Charge for the year 17,037 35,280 7,177 59,494
On disposals - - - -
At 31 March 2024 85,192 122,329 14,169 221,690
Net book value
At 31 March 2024 85,195 39,467 20,817 145,479
At 31 March 2023 102,232 74,747 27,994 204,973
4 Debtors 2024 2023
£ £
Trade debtors 61,998 67,130
Other debtors 15,242 7,790
77,240 74,920
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 26,800 26,800
Obligations under finance lease and hire purchase contracts - 11,321
Trade creditors 53,774 45,400
Taxation and social security costs 188,345 135,925
Other creditors 53,074 39,647
321,993 259,093
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 92,750 125,572
7 Other information
Bury St Edmunds Veterinary Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit A
Eastgate Street
Bury St Edmunds
IP33 IYQ
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