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REGISTERED NUMBER: 04187179 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Croft Veterinary Centres Limited

Croft Veterinary Centres Limited (Registered number: 04187179)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Croft Veterinary Centres Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr P C Eville





SECRETARY: Mr P C Eville





REGISTERED OFFICE: Unit 3 Sykes Retail Park
Bolsover
Derbyshire
S44 6DJ





REGISTERED NUMBER: 04187179 (England and Wales)





ACCOUNTANTS: Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Croft Veterinary Centres Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Croft Veterinary Centres Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Croft Veterinary Centres Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Croft Veterinary Centres Limited and state those matters that we have agreed to state to the director of Croft Veterinary Centres Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Croft Veterinary Centres Limited and its director for our work or for this report.

It is your duty to ensure that Croft Veterinary Centres Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Croft Veterinary Centres Limited. You consider that Croft Veterinary Centres Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Croft Veterinary Centres Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT


Date: .............................................

Croft Veterinary Centres Limited (Registered number: 04187179)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 578,515 590,806
578,515 590,806

CURRENT ASSETS
Stocks 49,111 41,188
Debtors 6 73,607 99,920
Cash at bank and in hand 63,480 18,493
186,198 159,601
CREDITORS
Amounts falling due within one year 7 708,536 735,692
NET CURRENT LIABILITIES (522,338 ) (576,091 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,177

14,715

CREDITORS
Amounts falling due after more than one
year

8

(42,643

)

(78,824

)

PROVISIONS FOR LIABILITIES (52,752 ) (28,302 )
NET LIABILITIES (39,218 ) (92,411 )

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings (39,320 ) (92,513 )
(39,218 ) (92,411 )

Croft Veterinary Centres Limited (Registered number: 04187179)

Balance Sheet - continued
31 March 2024


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 director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2024 and were signed by:





Mr P C Eville - Director


Croft Veterinary Centres Limited (Registered number: 04187179)

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

1. STATUTORY INFORMATION

Croft Veterinary Centres 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

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.
Short leasehold - Straight line over 8 years
Plant and machinery - 25% on reducing balance and Straight line over 8 years

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to
the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.

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.


Croft Veterinary Centres Limited (Registered number: 04187179)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 124,000
AMORTISATION
At 1 April 2023
and 31 March 2024 124,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Croft Veterinary Centres Limited (Registered number: 04187179)

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

5. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
COST
At 1 April 2023 17,774 733,590 751,364
Additions - 34,956 34,956
At 31 March 2024 17,774 768,546 786,320
DEPRECIATION
At 1 April 2023 1,663 158,895 160,558
Charge for year 1,074 46,173 47,247
At 31 March 2024 2,737 205,068 207,805
NET BOOK VALUE
At 31 March 2024 15,037 563,478 578,515
At 31 March 2023 16,111 574,695 590,806

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023 69,864
Additions 13,763
At 31 March 2024 83,627
DEPRECIATION
At 1 April 2023 14,787
Charge for year 5,328
At 31 March 2024 20,115
NET BOOK VALUE
At 31 March 2024 63,512
At 31 March 2023 55,077

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 17,140 32,691
Other debtors 56,467 67,229
73,607 99,920

Croft Veterinary Centres Limited (Registered number: 04187179)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 19,000 19,069
Hire purchase contracts (see note 9) 32,189 26,593
Trade creditors 99,947 120,069
Taxation and social security 87,679 85,179
Other creditors 469,721 484,782
708,536 735,692

Obligations under finance lease and hire purchase contracts are secured against the relevant assets.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 22,167 41,167
Hire purchase contracts (see note 9) 20,476 37,657
42,643 78,824

The net obligations under finance leases and hire purchase contracts are secured against the relevant assets.

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 32,189 26,593
Between one and five years 20,476 37,657
52,665 64,250

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 28,806 32,876
Between one and five years 109,159 111,433
In more than five years 185,721 212,252
323,686 356,561

Croft Veterinary Centres Limited (Registered number: 04187179)

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

10. FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

11. RELATED PARTY DISCLOSURES

During the year the company was related to the Director. As at 31st March 2024, the company owes the Director £348,392 (2023: £343,608), and this is included within creditors.

During the year the company was related to the parent company. As at 31st March 2024, the company owes the parent company £85,000 (2023: £103,000), and this is included within creditors.

12. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Eville Investments Limited, and is under the control of Mr P C Eville.