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Reports Dated : 28/11/2024 Registered Number: 08827523
England and Wales

 

 

 

HIGHAM FERRERS VETERINARY CLINIC LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Director Nicholas John Taylor
Registered Number 08827523
Registered Office 28 London Road
Welwyn
Hertfordshire
AL6 9JD
Accountants Denton Tavara Limited
61a High Street South
Rushden
NN10 0RA
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 29 February 2024.
Principal activities
The principal activity of the company during the financial year was that of a veterinary practice.
Director
The director who served the company throughout the year was as follows:
Nicholas John Taylor
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Nicholas John Taylor
Director

Date approved: 28 November 2024
2
Accountants report
You consider that the company is exempt from an audit for the year ended 29 February 2024 . You have acknowledged, on the Statement of Financial Position , your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................

Denton Tavara Limited

61a High Street South
Rushden
NN10 0RA
28 November 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 601,525    599,621 
Investments 4 1   
601,526    599,621 
Current assets      
Stocks 5 38,500    30,500 
Debtors 6 492,903    47,554 
Cash at bank and in hand 1,199,311    1,055,756 
1,730,714    1,133,810 
Creditors: amount falling due within one year 7 (387,058)   (269,268)
Net current assets 1,343,656    864,542 
 
Total assets less current liabilities 1,945,182    1,464,163 
Provisions for liabilities 8 (19,548)   (11,022)
Net assets 1,925,634    1,453,141 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 1,925,632    1,453,139 
Shareholders' funds 1,925,634    1,453,141 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 28 November 2024 and were signed by:


-------------------------------
Nicholas John Taylor
Director
4
General Information
Higham Ferrers Veterinary Clinic Ltd is a private company, limited by shares, registered in England and Wales, registration number 08827523, registration address 28 London Road, Welwyn, Hertfordshire, AL6 9JD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 4% Straight Line
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
Improvements to property 4% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 17 (2023 : 18).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Improvements to property   Total
  £   £   £   £   £   £   £
At 01 March 2023 504,861    103,637      19,778    14,216    158,653    801,145 
Additions   33,998    8,431      3,036      45,465 
Disposals     (8,431)         (8,431)
At 29 February 2024 504,861    137,635      19,778    17,252    158,653    838,179 
Depreciation
At 01 March 2023 50,080    74,729      15,800    13,524    47,391    201,524 
Charge for year 12,111    14,075      994    1,704    6,246    35,130 
On disposals            
At 29 February 2024 62,191    88,804      16,794    15,228    53,637    236,654 
Net book values
Closing balance as at 29 February 2024 442,670    48,831      2,984    2,024    105,016    601,525 
Opening balance as at 01 March 2023 454,781    28,908      3,978    692    111,262    599,621 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 March 2023  
Additions 1    1 
Transfer to/from tangible fixed assets  
Disposals  
At 29 February 2024 1    1 

5.

Stocks

2024
£
  2023
£
Closing Stocks at The Year End 38,500    30,500 
38,500    30,500 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 5,761    3,758 
Amount Owed by Group Undertakings 335,717   
Prepayments & Accrued Income 700    84 
Other Debtors 3,012    26,712 
Directors' Current Accounts 147,713   
492,903    30,554 

6.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors   17,000 
  17,000 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 70,589    68,606 
Corporation Tax 227,320    130,349 
PAYE & Social Security 9,003    1,327 
Accruals 2,300    2,200 
Other Creditors 649    648 
Directors' Current Accounts   151 
VAT 77,197    65,987 
387,058    269,268 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 11,022    8,284 
Deferred Tax Charged to Profit & Loss 8,526    2,738 
19,548    11,022 

5