Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr S Altoft 26/06/2017 Mrs J Clayton 27/06/2023 26/06/2017 Ms A Daubney 01/04/2022 10 October 2024 The principal activity of the company is the provision of veterinary services. 10836453 2024-03-31 10836453 bus:Director1 2024-03-31 10836453 bus:Director2 2024-03-31 10836453 bus:Director3 2024-03-31 10836453 2023-03-31 10836453 core:CurrentFinancialInstruments 2024-03-31 10836453 core:CurrentFinancialInstruments 2023-03-31 10836453 core:ShareCapital 2024-03-31 10836453 core:ShareCapital 2023-03-31 10836453 core:RetainedEarningsAccumulatedLosses 2024-03-31 10836453 core:RetainedEarningsAccumulatedLosses 2023-03-31 10836453 core:LandBuildings 2023-03-31 10836453 core:PlantMachinery 2023-03-31 10836453 core:Vehicles 2023-03-31 10836453 core:OfficeEquipment 2023-03-31 10836453 core:LandBuildings 2024-03-31 10836453 core:PlantMachinery 2024-03-31 10836453 core:Vehicles 2024-03-31 10836453 core:OfficeEquipment 2024-03-31 10836453 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 10836453 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 10836453 bus:OrdinaryShareClass1 2024-03-31 10836453 2023-04-01 2024-03-31 10836453 bus:FilletedAccounts 2023-04-01 2024-03-31 10836453 bus:SmallEntities 2023-04-01 2024-03-31 10836453 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10836453 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10836453 bus:Director1 2023-04-01 2024-03-31 10836453 bus:Director2 2023-04-01 2024-03-31 10836453 bus:Director3 2023-04-01 2024-03-31 10836453 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 10836453 core:PlantMachinery 2023-04-01 2024-03-31 10836453 core:Vehicles 2023-04-01 2024-03-31 10836453 core:OfficeEquipment 2023-04-01 2024-03-31 10836453 2022-04-01 2023-03-31 10836453 core:LandBuildings 2023-04-01 2024-03-31 10836453 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10836453 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10836453 (England and Wales)

SUMMERLEAZE VETS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SUMMERLEAZE VETS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SUMMERLEAZE VETS LIMITED

BALANCE SHEET

As at 31 March 2024
SUMMERLEAZE VETS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 114,451 113,177
114,451 113,177
Current assets
Stocks 51,625 44,453
Debtors 4 189,061 284,895
Cash at bank and in hand 107,486 211,722
348,172 541,070
Creditors: amounts falling due within one year 5 ( 169,920) ( 206,110)
Net current assets 178,252 334,960
Total assets less current liabilities 292,703 448,137
Provision for liabilities ( 20,700) ( 20,141)
Net assets 272,003 427,996
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 271,903 427,896
Total shareholder's funds 272,003 427,996

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.

Directors' responsibilities:

The financial statements of Summerleaze Vets Limited (registered number: 10836453) were approved and authorised for issue by the Board of Directors on 10 October 2024. They were signed on its behalf by:

Mr S Altoft
Director
SUMMERLEAZE VETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SUMMERLEAZE VETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Summerleaze Vets Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Summerleaze Farm Gammonds Hill, Kilmington, Axminster, EX13 7RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 10 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 14

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 21,522 102,344 62,437 28,049 214,352
Additions 0 22,369 0 0 22,369
Disposals 0 0 ( 15,490) 0 ( 15,490)
At 31 March 2024 21,522 124,713 46,947 28,049 221,231
Accumulated depreciation
At 01 April 2023 21,522 36,882 28,921 13,850 101,175
Charge for the financial year 0 6,814 5,716 2,840 15,370
Disposals 0 0 ( 9,765) 0 ( 9,765)
At 31 March 2024 21,522 43,696 24,872 16,690 106,780
Net book value
At 31 March 2024 0 81,017 22,075 11,359 114,451
At 31 March 2023 0 65,462 33,516 14,199 113,177

4. Debtors

2024 2023
£ £
Trade debtors 83,782 110,965
Amounts owed by Parent undertakings 82,433 0
Prepayments and accrued income 7,047 73,225
Other debtors 15,799 100,705
189,061 284,895

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 51,866 57,052
Amounts owed to directors 24,100 64,500
Accruals 24,792 27,917
Taxation and social security 66,352 55,107
Other creditors 2,810 1,534
169,920 206,110

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Other financial commitments

2024 2023
£ £
The total amount of financial commitments not included in the balance sheet 65,413 94,786

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed by parent 82,433 0

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 24,100 64,500

There has been no interest charged on these balances and there are no fixed dates for repayment.