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Registration number: 04649096

Castle Veterinary Group Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Castle Veterinary Group Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Castle Veterinary Group Limited

(Registration number: 04649096)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

55,652

99,958

Tangible assets

5

418,175

390,167

 

473,827

490,125

Current assets

 

Stocks

71,758

53,648

Debtors

438,126

369,173

Cash at bank and in hand

 

399,326

494,763

 

909,210

917,584

Creditors: Amounts falling due within one year

6

(684,826)

(678,650)

Net current assets

 

224,384

238,934

Total assets less current liabilities

 

698,211

729,059

Creditors: Amounts falling due after more than one year

7

(260,000)

(310,099)

Provisions for liabilities

(55,607)

(56,674)

Net assets

 

382,604

362,286

Capital and reserves

 

Called up share capital

180

180

Capital redemption reserve

60

60

Profit and loss account

382,364

362,046

Total equity

 

382,604

362,286

 

Castle Veterinary Group Limited

(Registration number: 04649096)
Abridged Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 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 17 June 2024 and signed on its behalf by:
 

Mrs H J Howgill

Director

 

Castle Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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:
Castle Veterinary Group
Pennygillam Way
Launceston
Cornwall
PL15 7ED

These financial statements were authorised for issue by the Board on 17 June 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.

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.

Tangible assets

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

 

Castle Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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

Leasehold property

10% straight line

Office equipment

33% straight line

Motor vehicles

15% reducing balance

Plant and machinery

15% reducing balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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

Straight line over 10 and 15 years

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 6 (2022 - 6).

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2023

682,816

At 31 December 2023

682,816

Amortisation

At 1 January 2023

582,858

Amortisation charge

44,306

At 31 December 2023

627,164

Carrying amount

At 31 December 2023

55,652

At 31 December 2022

99,958

 

Castle Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Total
£

Cost or valuation

At 1 January 2023

936,984

Additions

111,206

Disposals

(12,025)

At 31 December 2023

1,036,165

Depreciation

At 1 January 2023

546,817

Charge for the year

78,663

Eliminated on disposal

(7,490)

At 31 December 2023

617,990

Carrying amount

At 31 December 2023

418,175

At 31 December 2022

390,167

6

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 £nil (2022 - £15,700).

7

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 £260,000 (2022 - £310,099).