Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 08484839 Mrs Katharine Power Mr Simon Power iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08484839 2023-04-30 08484839 2024-04-30 08484839 2023-05-01 2024-04-30 08484839 frs-core:CurrentFinancialInstruments 2024-04-30 08484839 frs-core:Non-currentFinancialInstruments 2024-04-30 08484839 frs-core:BetweenOneFiveYears 2024-04-30 08484839 frs-core:ComputerEquipment 2024-04-30 08484839 frs-core:ComputerEquipment 2023-05-01 2024-04-30 08484839 frs-core:ComputerEquipment 2023-04-30 08484839 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 08484839 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-30 08484839 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 08484839 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-30 08484839 frs-core:MoreThanFiveYears 2024-04-30 08484839 frs-core:MotorVehicles 2024-04-30 08484839 frs-core:MotorVehicles 2023-05-01 2024-04-30 08484839 frs-core:MotorVehicles 2023-04-30 08484839 frs-core:OtherResidualIntangibleAssets 2024-04-30 08484839 frs-core:OtherResidualIntangibleAssets 2023-05-01 2024-04-30 08484839 frs-core:OtherResidualIntangibleAssets 2023-04-30 08484839 frs-core:PlantMachinery 2024-04-30 08484839 frs-core:PlantMachinery 2023-05-01 2024-04-30 08484839 frs-core:PlantMachinery 2023-04-30 08484839 frs-core:WithinOneYear 2024-04-30 08484839 frs-core:SharePremium 2024-04-30 08484839 frs-core:ShareCapital 2024-04-30 08484839 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 08484839 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08484839 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 08484839 frs-bus:SmallEntities 2023-05-01 2024-04-30 08484839 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08484839 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 08484839 frs-bus:Director1 2023-05-01 2024-04-30 08484839 frs-bus:Director1 2023-04-30 08484839 frs-bus:Director1 2024-04-30 08484839 frs-bus:Director2 2023-05-01 2024-04-30 08484839 frs-bus:Director2 2023-04-30 08484839 frs-bus:Director2 2024-04-30 08484839 frs-countries:EnglandWales 2023-05-01 2024-04-30 08484839 2022-04-30 08484839 2023-04-30 08484839 2022-05-01 2023-04-30 08484839 frs-core:CurrentFinancialInstruments 2023-04-30 08484839 frs-core:Non-currentFinancialInstruments 2023-04-30 08484839 frs-core:BetweenOneFiveYears 2023-04-30 08484839 frs-core:MoreThanFiveYears 2023-04-30 08484839 frs-core:WithinOneYear 2023-04-30 08484839 frs-core:SharePremium 2023-04-30 08484839 frs-core:ShareCapital 2023-04-30 08484839 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 08484839
Vets 1 Group Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
MAC Accounting (Norfolk) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08484839
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,167 9,856
Tangible Assets 5 290,107 299,897
295,274 309,753
CURRENT ASSETS
Stocks 6 79,395 69,462
Debtors 7 600,309 651,440
Cash at bank and in hand 90,512 144,531
770,216 865,433
Creditors: Amounts Falling Due Within One Year 8 (540,474 ) (522,404 )
NET CURRENT ASSETS (LIABILITIES) 229,742 343,029
TOTAL ASSETS LESS CURRENT LIABILITIES 525,016 652,782
Creditors: Amounts Falling Due After More Than One Year 9 (346,713 ) (383,456 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (23,096 ) (20,279 )
NET ASSETS 155,207 249,047
CAPITAL AND RESERVES
Called up share capital 11 1,208 1,134
Share premium account 54,515 32,981
Profit and Loss Account 99,484 214,932
SHAREHOLDERS' FUNDS 155,207 249,047
Page 1
Page 2
For the year ending 30 April 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Power
Director
11/12/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vets 1 Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08484839 . The registered office is Home Farm Barns Downham Road, Crimplesham, King's Lynn, PE33 9DU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of veterinary services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible asssets consist of app development costs. This is recorded at cost and will be amortised evenly over five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 4 Year Straight line
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 25% Reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 56 (2023: 50)
56 50
4. Intangible Assets
Other
£
Cost
As at 1 May 2023 23,923
As at 30 April 2024 23,923
Amortisation
As at 1 May 2023 14,067
Provided during the period 4,689
As at 30 April 2024 18,756
Net Book Value
As at 30 April 2024 5,167
As at 1 May 2023 9,856
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 241,967 532,365 13,995 58,579 846,906
Additions 28,053 724 - 2,498 31,275
As at 30 April 2024 270,020 533,089 13,995 61,077 878,181
Depreciation
As at 1 May 2023 62,383 430,788 12,594 41,244 547,009
Provided during the period 10,643 25,394 350 4,678 41,065
As at 30 April 2024 73,026 456,182 12,944 45,922 588,074
Net Book Value
As at 30 April 2024 196,994 76,907 1,051 15,155 290,107
As at 1 May 2023 179,584 101,577 1,401 17,335 299,897
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Page 5
6. Stocks
2024 2023
£ £
Stock 79,395 69,462
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors (26,475 ) 21,780
Other debtors 626,784 629,660
600,309 651,440
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,167 15,172
Trade creditors 200,118 225,885
Bank loans and overdrafts 85,582 51,237
Amounts owed to participating interests 3,897 7,183
Other creditors 55,317 58,114
Taxation and social security 180,393 164,813
540,474 522,404
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,136 12,113
Bank loans 322,577 371,343
346,713 383,456
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,167 15,172
Later than one year and not later than five years 24,136 12,113
39,303 27,285
39,303 27,285
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,208 1,134
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12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 117,311 110,774
Later than one year and not later than five years 269,710 274,625
Later than five years 562,328 624,808
949,349 1,010,207
13. Directors Advances, Credits and Guarantees
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mrs Katharine Power 3,819 - 4,935 - (1,116 )
Mr Simon Power 3,819 - 4,935 - (1,116 )
The above loan is unsecured, interest free and repayable on demand.
14. Related Party Transactions
Vets 1 Group Holdings LtdParent Company of Vets 1 Group LimitedDuring the year, Vets 1 Group Holdings Ltd had net transactions with Vets 1 Group Ltd amounting to £3,286 (2023: £6,711). As of 30th April 2024, Vets 1 Group Holdings Ltd was owed £3,897 by Vets 1 Group Ltd (2023: £7,183). This interest-free loan is repayable on demand, and the balance is included under ‘Amounts owed to participating interests’.

Vets 1 Group Holdings Ltd

Parent Company of Vets 1 Group Limited

During the year, Vets 1 Group Holdings Ltd had net transactions with Vets 1 Group Ltd amounting to £3,286 (2023: £6,711). As of 30th April 2024, Vets 1 Group Holdings Ltd was owed £3,897 by Vets 1 Group Ltd (2023: £7,183). This interest-free loan is repayable on demand, and the balance is included under ‘Amounts owed to participating interests’.

Vets 1 Group (King's Lynn) LtdCompany under common control

Vets 1 Group (King's Lynn) Ltd

Company under common control

During the year, Vets 1 Group (King's Lynn) Limited was invoiced Net £123,467 by Vets 1 Group Ltd to cover wage expenses (2023: £162,486). As of 30th April 2024, the outstanding balance owed to Vets 1 Group Ltd was £112,376 (2023: £17,800), which is included in the trade receivables of Vets 1 Group Ltd as of 30th April 2024.
In addition to the transactions noted above, Vets 1 Group (King's Lynn) Ltd owes Vets 1 Group Ltd £409,368 (2023: £442,460). This balance consists of various items, including bank interest payments of £14,322 (2023: £15,192) settled on behalf of Vets 1 Group (King's Lynn) Ltd, as well as mutual settlement of purchase invoices. Other transactions include cash transfers between the two entities. The balance is interest-free and repayable on demand and is recorded within Other Debtors.
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