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REGISTERED NUMBER: 14342035 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Swale VP Ltd

Swale VP Ltd (Registered number: 14342035)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Swale VP Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B T Faulkner
C J Roxburgh
R G Lucy
R Neagu





REGISTERED OFFICE: The Barn
Macknade Farm
Selling Road
Faversham
ME13 8XF





REGISTERED NUMBER: 14342035 (England and Wales)





ACCOUNTANTS: Pinfold & Co
8 Deben Mill Business Centre
Old Maltings Approach
Woodbridge
Suffolk
IP12 1BL

Swale VP Ltd (Registered number: 14342035)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 306,845 216,457

CURRENT ASSETS
Stocks 13,269 11,739
Debtors 22,240 39,258
Cash at bank and in hand 53,215 41,949
88,724 92,946
CREDITORS
Amounts falling due within one year 71,467 48,970
NET CURRENT ASSETS 17,257 43,976
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,102

260,433

CREDITORS
Amounts falling due after more than one
year

350,145

307,967
NET LIABILITIES (26,043 ) (47,534 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (26,143 ) (47,634 )
SHAREHOLDERS' FUNDS (26,043 ) (47,534 )

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.

Swale VP Ltd (Registered number: 14342035)

Abridged 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 October 2024 and were signed on its behalf by:





C J Roxburgh - Director


Swale VP Ltd (Registered number: 14342035)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Swale VP Ltd 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, arising from a veterinary practice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over life of lease
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 Statement of Income and Retained Earnings, 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.

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 12 (2023 - 9 ) .

Swale VP Ltd (Registered number: 14342035)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 225,901
Additions 157,874
Disposals (2,330 )
At 31 March 2024 381,445
DEPRECIATION
At 1 April 2023 9,444
Charge for year 65,231
Eliminated on disposal (75 )
At 31 March 2024 74,600
NET BOOK VALUE
At 31 March 2024 306,845
At 31 March 2023 216,457

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 25,459 18,480
Between one and five years 107,472 105,933
In more than five years 94,493 121,491
227,424 245,904

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 - 100
50 A Ordinary £1 50 -
50 B Ordinary £1 50 -
100 100

The company was incorporated with 100 Ordinary Shares they were redesignated as 50 A Ordinary shares and 50 B Ordinary shares on 28 April 2023.

7. RELATED PARTY DISCLOSURES

At the balance sheet date related parties were owed £350,145 (2023: £307,697) and the company was owed £199 (2023: £199) from related parties.

The loans from related parties are unsecured and interest free. The loan, shown over one year, is repayable five years from the anniversary of the date of the shareholders agreement.

During the year invoices, net of credit notes, were received for £501 from related parties.