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Registration number: 06271857

Smart Veterinary Clinic Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Smart Veterinary Clinic Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Smart Veterinary Clinic Limited

(Registration number: 06271857)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

147,785

179,032

Current assets

 

Stocks

13,305

13,798

Debtors

311,680

298,369

Cash at bank and in hand

 

67,800

63,108

 

392,785

375,275

Creditors: Amounts falling due within one year

(137,975)

(144,041)

Net current assets

 

254,810

231,234

Total assets less current liabilities

 

402,595

410,266

Creditors: Amounts falling due after more than one year

(17,619)

(29,467)

Provisions for liabilities

(25,958)

(33,235)

Net assets

 

359,018

347,564

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

358,918

347,464

Total equity

 

359,018

347,564

 

Smart Veterinary Clinic Limited

(Registration number: 06271857)
Abridged Balance Sheet as at 31 March 2024

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.

The members have not required the company to obtain an audit of its accounts for the year 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 22 November 2024 and signed on its behalf by:
 

Dr L Davies

Company secretary and director

 

Smart Veterinary Clinic Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Llainffynnon
Rhydargaeau Road
Carmarthen
Dyfed
SA32 7AJ

These financial statements were authorised for issue by the Board on 22 November 2024.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Smart Veterinary Clinic Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

Equipment, fixtures & fittings

15% reducing balance

Plant & machinery

25% reducing balance

Long leasehold land & buildings

2% straight line

Staff bicycles

50% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2023 - 18).

4

Tangible assets

Total
£

Cost or valuation

At 1 April 2023

548,609

Additions

5,595

At 31 March 2024

554,204

Depreciation

At 1 April 2023

369,577

Charge for the year

36,842

At 31 March 2024

406,419

Carrying amount

At 31 March 2024

147,785

At 31 March 2023

179,032

5

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £28,800 (2023 - £56,675).