St Helens Vets4pets Limited 07780297 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 Ravenhead Retail Park, St Helens. Digita Accounts Production Advanced 6.30.9574.0 true true 07780297 2023-03-31 2024-03-28 07780297 2024-03-28 07780297 core:CurrentFinancialInstruments 2024-03-28 07780297 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-28 07780297 core:Non-currentFinancialInstruments 2024-03-28 07780297 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-28 07780297 core:Goodwill 2024-03-28 07780297 core:WithinOneYear 2024-03-28 07780297 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2024-03-28 07780297 bus:SmallEntities 2023-03-31 2024-03-28 07780297 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-28 07780297 bus:FilletedAccounts 2023-03-31 2024-03-28 07780297 bus:SmallCompaniesRegimeForAccounts 2023-03-31 2024-03-28 07780297 bus:RegisteredOffice 2023-03-31 2024-03-28 07780297 bus:CompanySecretaryDirector1 2023-03-31 2024-03-28 07780297 bus:Director2 2023-03-31 2024-03-28 07780297 bus:Director3 2023-03-31 2024-03-28 07780297 bus:Director4 2023-03-31 2024-03-28 07780297 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-28 07780297 core:Goodwill 2023-03-31 2024-03-28 07780297 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-31 2024-03-28 07780297 core:PlantMachinery 2023-03-31 2024-03-28 07780297 countries:AllCountries 2023-03-31 2024-03-28 07780297 core:Goodwill 2023-03-30 07780297 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-30 07780297 2022-04-01 2023-03-30 07780297 2023-03-30 07780297 core:CurrentFinancialInstruments 2023-03-30 07780297 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-30 07780297 core:Non-currentFinancialInstruments 2023-03-30 07780297 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-30 07780297 core:Goodwill 2023-03-30 07780297 core:WithinOneYear 2023-03-30 07780297 core:FurnitureFittingsToolsEquipment core:OwnedOrFreeholdAssets 2023-03-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07780297

St Helens Vets4pets Limited

Unaudited Filleted Financial Statements

for the Period from 31 March 2023 to 28 March 2024

 

St Helens Vets4pets Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

St Helens Vets4pets Limited

Company Information

Directors

Companion Care (Services) Limited

M Boyle

M M Lawrence

Vets4Pets (Services) Limited

Company secretary

Companion Care (Services) Limited

Registered office

Epsom Avenue
Stanley Green Trading Estate
Handforth
Cheshire
SK9 3RN

 

St Helens Vets4pets Limited

(Registration number: 07780297)
Balance Sheet as at 28 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,203

16,844

Tangible assets

5

6,740

11,890

 

7,943

28,734

Current assets

 

Stocks

6

13,911

10,100

Debtors

7

91,829

77,812

Cash at bank and in hand

 

72,547

12,177

 

178,287

100,089

Creditors: Amounts falling due within one year

8

(160,353)

(241,622)

Net current assets/(liabilities)

 

17,934

(141,533)

Total assets less current liabilities

 

25,877

(112,799)

Creditors: Amounts falling due after more than one year

8

(150,000)

(150,000)

Net liabilities

 

(124,123)

(262,799)

Capital and reserves

 

Called up share capital

11

100

100

Retained earnings

(124,223)

(262,899)

Shareholders' deficit

 

(124,123)

(262,799)

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 5 November 2024 and signed on its behalf by:
 

 

St Helens Vets4pets Limited

(Registration number: 07780297)
Balance Sheet as at 28 March 2024

.........................................
Companion Care (Services) Limited
Company secretary and director

 

St Helens 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. 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.

 

St Helens 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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

 

St Helens Vets4pets Limited

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

2

Accounting policies (continued)

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.

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 14 (2023 - 13).

4

Intangible assets

Goodwill
£

Cost or valuation

At 31 March 2023

151,756

At 28 March 2024

151,756

Amortisation

At 31 March 2023

134,913

Charge for the year

15,640

At 28 March 2024

150,553

Carrying amount

At 28 March 2024

1,203

At 30 March 2023

16,844

5

Tangible assets

Furniture, fittings and equipment
£

Cost or valuation

 

St Helens Vets4pets Limited

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

5

Tangible assets (continued)

Furniture, fittings and equipment
£

At 31 March 2023

234,332

At 28 March 2024

234,332

Depreciation

At 31 March 2023

222,443

Charge for the period

5,149

At 28 March 2024

227,592

Carrying amount

At 28 March 2024

6,740

At 30 March 2023

11,890

6

Stocks

2024
£

2023
£

Other inventories

13,911

10,100

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

29,345

-

Amounts owed by related parties

25,320

56,246

Other debtors

 

37,164

21,566

   

91,829

77,812

 

St Helens Vets4pets Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

114,534

Trade creditors

 

47,497

68,183

Taxation and social security

 

23,266

39,486

Other creditors

 

89,590

19,419

 

160,353

241,622

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

150,000

150,000

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Loans from related parties

150,000

150,000

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

114,534

 

St Helens Vets4pets Limited

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

9

Loans and borrowings (continued)

Other borrowings

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

The B shareholders 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 £120,000 (2023 - £120,000).

The Companion Care (services) Limited Operating loan is denominated in GBP with a nominal interest rate of 3.8% above the Bank of England base rate%, and the final instalment is due on 28 March 2024. The carrying amount at period end is £Nil (2023 - £114,534).

The Operating loan is repayable within 90 days on demand.

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.

10

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

23,103

21,934

The practice occupies space within a Pets at Home store under a licence to occupy agreement. As this is a rolling agreement, the company is committed to an annual payment, which is included in the table above. The payments made reflect the operating lease commitments as held at the Pets at Home branch in which the practice is situated.

11

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

 

St Helens Vets4pets Limited

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

11

Share capital (continued)

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.