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REGISTERED NUMBER: 07027361 (England and Wales)











Financial Statements

for the Year Ended 31 December 2023

for

VILLAGE VETS FORMBY LIMITED

VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VILLAGE VETS FORMBY LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr H B Goatley
Dr K M Higgins





REGISTERED OFFICE: Kings Lodge London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR





REGISTERED NUMBER: 07027361 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 330,087 359,965
330,087 359,965

CURRENT ASSETS
Stocks 6 66,967 109,500
Debtors 7 84,848 126,827
Cash at bank and in hand 112,248 40,180
264,063 276,507
CREDITORS
Amounts falling due within one year 8 382,693 370,112
NET CURRENT LIABILITIES (118,630 ) (93,605 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

211,457

266,360

CREDITORS
Amounts falling due after more than one year 9 (32,227 ) (32,213 )

PROVISIONS FOR LIABILITIES 11 (13,949 ) (11,155 )
NET ASSETS 165,281 222,992

CAPITAL AND RESERVES
Called up share capital 12 200,100 200,100
Retained earnings (34,819 ) 22,892
SHAREHOLDERS' FUNDS 165,281 222,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




Mr H B Goatley - Director



Dr K M Higgins - Director


VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)

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

1. STATUTORY INFORMATION

Village Vets Formby 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 105,000
AMORTISATION
At 1 January 2023
and 31 December 2023 105,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 444,643 261,214 66,644 - 772,501
Additions - 24,653 - 1,578 26,231
At 31 December 2023 444,643 285,867 66,644 1,578 798,732
DEPRECIATION
At 1 January 2023 175,036 186,703 50,797 - 412,536
Charge for year 26,961 24,791 3,962 395 56,109
At 31 December 2023 201,997 211,494 54,759 395 468,645
NET BOOK VALUE
At 31 December 2023 242,646 74,373 11,885 1,183 330,087
At 31 December 2022 269,607 74,511 15,847 - 359,965

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machiner
£   
COST
At 1 January 2023
and 31 December 2023 22,500
DEPRECIATION
At 1 January 2023 19,413
Charge for year 772
At 31 December 2023 20,185
NET BOOK VALUE
At 31 December 2023 2,315
At 31 December 2022 3,087

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 66,967 109,500

VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 36,003 14,310
Amounts owed by group undertakings 43,198 31,698
Tax 5,647 -
Prepayments and accrued income - 40,000
Prepayments - 40,819
84,848 126,827

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 10) 15,160 10,990
Hire purchase contracts 9,037 17,160
Trade creditors 190,319 64,795
Tax 17,844 17,844
Social security and other taxes 4,390 14,347
VAT 2,409 42,097
Other creditors 587 2,942
Directors' current accounts 136,460 184,287
Accruals and deferred income 6,487 15,650
382,693 370,112

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 10) 32,227 23,176
Hire purchase contracts - 9,037
32,227 32,213

10. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 15,160 10,990

Amounts falling due between one and two years:
Bank loans - 1-2 years 15,160 10,990

Amounts falling due between two and five years:
Bank loans - 2-5 years 17,067 12,186

VILLAGE VETS FORMBY LIMITED (REGISTERED NUMBER: 07027361)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 13,949 11,155

Deferred
tax
£   
Balance at 1 January 2023 11,155
Provided during year 2,794
Balance at 31 December 2023 13,949

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
200,100 Ordinary £1 200,100 200,100

13. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due within one year is £136,460 (2022: £184,287), due and payable to the director. The amount is interest free and repayable on demand.

At the balance sheet date the company was owed £43,198 (2022: £31,698) by Lincluden Holdings Limited. The companies are related parties by virtue of the fact that they are under common control.