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REGISTERED NUMBER: 13756252 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

KSVP Ltd

KSVP Ltd (Registered number: 13756252)






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


KSVP Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B T Faulkner
C J Roxburgh





REGISTERED OFFICE: 38 King Street
Twickenham
TW1 3SL





REGISTERED NUMBER: 13756252 (England and Wales)





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

KSVP Ltd (Registered number: 13756252)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 395 788
Tangible assets 5 305,102 345,081
305,497 345,869

CURRENT ASSETS
Stocks 22,892 -
Debtors 58,105 21,526
Cash at bank and in hand 60,311 41,702
141,308 63,228
CREDITORS
Amounts falling due within one year 110,967 546,298
NET CURRENT ASSETS/(LIABILITIES) 30,341 (483,070 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

335,838

(137,201

)

CREDITORS
Amounts falling due after more than one
year

400,000

-
NET LIABILITIES (64,162 ) (137,201 )

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (64,262 ) (137,301 )
SHAREHOLDERS' FUNDS (64,162 ) (137,201 )

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.

KSVP Ltd (Registered number: 13756252)

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 2 October 2024 and were signed on its behalf by:





C J Roxburgh - Director


KSVP Ltd (Registered number: 13756252)

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

1. STATUTORY INFORMATION

KSVP 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.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

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
Computer equipment - 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.

KSVP Ltd (Registered number: 13756252)

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

2. ACCOUNTING POLICIES - continued

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 13 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 1,179
AMORTISATION
At 1 April 2023 391
Amortisation for year 393
At 31 March 2024 784
NET BOOK VALUE

At 31 March 2024 395
At 31 March 2023 788

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 391,692
Additions 5,775
Disposals (1,246 )
At 31 March 2024 396,221
DEPRECIATION
At 1 April 2023 46,611
Charge for year 44,832
Eliminated on disposal (324 )
At 31 March 2024 91,119
NET BOOK VALUE
At 31 March 2024 305,102
At 31 March 2023 345,081

Short leasehold includes the expenditure on the property occupied by the company where a the lease is held by a connected company.

KSVP Ltd (Registered number: 13756252)

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

6. CALLED UP SHARE CAPITAL

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

The company was incorporated with 100 Ordinary shares and they were redesignated as 50 A Ordinary shares and 50 B Ordinary shares on 18 June 2024.

7. RELATED PARTY DISCLOSURES

The company pays a related company monthly for the rent on the property it occupies and trades from. The rent paid in the period was £50,000 (2023: £43,008). The lease held by the controlling company is for twenty years with reviews at year five and every three years thereafter.

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

At the balance sheet date related parties were owed £416,798 (2023: £491,019) and owed related parties £1,010 (2023: £nil)

During the year invoices were received for £50,458 (2023: £1,343) from related parties.

8. CHARGE OVER THE COMPANY

National Westminster Bank Plc has a floating charge covering all the property or undertaking of the company.