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REGISTERED NUMBER: 09744356 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PORTLAND VETS LIMITED

PORTLAND VETS LIMITED (REGISTERED NUMBER: 09744356)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PORTLAND VETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G H C Christopherson
Mrs J M Christopherson





REGISTERED OFFICE: 27 Portland Road
East Grinstead
West Sussex
RH19 4EB





REGISTERED NUMBER: 09744356 (England and Wales)





ACCOUNTANTS: GBJ Financial Limited
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

PORTLAND VETS LIMITED (REGISTERED NUMBER: 09744356)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 114,163 122,338

CURRENT ASSETS
Stocks 52,500 52,500
Debtors 5 842,823 862,879
Cash at bank and in hand 222,863 83,933
1,118,186 999,312
CREDITORS
Amounts falling due within one year 6 312,122 158,674
NET CURRENT ASSETS 806,064 840,638
TOTAL ASSETS LESS CURRENT
LIABILITIES

920,227

962,976

CREDITORS
Amounts falling due after more than one
year

7

680,705

722,488
NET ASSETS 239,522 240,488

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 239,222 240,188
SHAREHOLDERS' FUNDS 239,522 240,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PORTLAND VETS LIMITED (REGISTERED NUMBER: 09744356)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





G H C Christopherson - Director


PORTLAND VETS LIMITED (REGISTERED NUMBER: 09744356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Portland Vets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 32 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 70,726 68,436 6,679 145,841
Additions - 8,396 - 8,396
At 31 March 2024 70,726 76,832 6,679 154,237
DEPRECIATION
At 1 April 2023 618 16,206 6,679 23,503
Charge for year 1,414 15,157 - 16,571
At 31 March 2024 2,032 31,363 6,679 40,074
NET BOOK VALUE
At 31 March 2024 68,694 45,469 - 114,163
At 31 March 2023 70,108 52,230 - 122,338

PORTLAND VETS LIMITED (REGISTERED NUMBER: 09744356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 343,897 211,427
Amounts owed by group undertakings 480,201 632,679
Other debtors 18,725 18,773
842,823 862,879

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 62,520 62,520
Trade creditors 29,296 87,111
Taxation and social security 213,125 4,336
Other creditors 7,181 4,707
312,122 158,674

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 680,705 722,488

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 680,705 722,488

8. RELATED PARTY DISCLOSURES

During the year, the company was charged management fees of £971,738 (2023: £694,174) by Portland Veterinary Services Limited. The director and shareholder of Portland Vets Limited is also a director of Portland Veterinary Services Limited. The company was owed £457,973 (2023: £629,596) from Portland Veterinary Services Limited at the year end.

At the year end the company was owed £3,216 (2023: £2,814) from Crawley Emergency Vets Ltd. The director and shareholder of Portland Vets Limited is also a director of Crawley Emergency Vets Ltd.

At the year end the company was owed £269 (2023: £269) from Portland Veterinary Services Horley Limited. The director and shareholder of Portland Vets Limited is also a director of Portland Vets Horley Limited.