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REGISTERED NUMBER: 12249332 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Live Well Vets Ltd

Live Well Vets Ltd (Registered number: 12249332)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Live Well Vets Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: G Elliott





REGISTERED OFFICE: 26 Warren Drive
Caerphilly
CF83 1HQ





REGISTERED NUMBER: 12249332 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Live Well Vets Ltd (Registered number: 12249332)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 419,907 214,310

CURRENT ASSETS
Stocks 19,000 10,000
Debtors 5 66,771 55,699
Cash at bank and in hand 41,819 16,400
127,590 82,099
CREDITORS
Amounts falling due within one year 6 263,312 175,606
NET CURRENT LIABILITIES (135,722 ) (93,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,185

120,803

CREDITORS
Amounts falling due after more than one
year

7

355,463

192,631
NET LIABILITIES (71,278 ) (71,828 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (71,378 ) (71,928 )
(71,278 ) (71,828 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Live Well Vets Ltd (Registered number: 12249332)

Balance Sheet - continued
31 October 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:





G Elliott - Director


Live Well Vets Ltd (Registered number: 12249332)

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

1. STATUTORY INFORMATION

Live Well Vets 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.

Although the company has net liabilities at the balance sheet date, the director, who is its principal creditor has agreed to continue to support the company. Therefore, the accounts are prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% 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 Income Statement, 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.

Live Well Vets Ltd (Registered number: 12249332)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 104,910 125,494 10,458 6,466 247,328
Additions 122,571 113,008 9,775 - 245,354
At 31 October 2024 227,481 238,502 20,233 6,466 492,682
DEPRECIATION
At 1 November 2023 10,491 18,824 1,569 2,134 33,018
Charge for year 11,374 24,888 2,066 1,429 39,757
At 31 October 2024 21,865 43,712 3,635 3,563 72,775
NET BOOK VALUE
At 31 October 2024 205,616 194,790 16,598 2,903 419,907
At 31 October 2023 94,419 106,670 8,889 4,332 214,310

Live Well Vets Ltd (Registered number: 12249332)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2023 112,703
Additions 84,425
At 31 October 2024 197,128
DEPRECIATION
At 1 November 2023 16,905
Charge for year 21,114
At 31 October 2024 38,019
NET BOOK VALUE
At 31 October 2024 159,109
At 31 October 2023 95,798

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 55,952 46,160
Other debtors 6,000 6,000
Prepayments 4,819 3,539
66,771 55,699

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other loans 30,663 -
Hire purchase contracts 35,029 18,191
Trade creditors 94,879 39,206
Social security and other taxes 44,756 11,090
VAT 31,219 11,254
Directors' current accounts 26,166 95,265
Accrued expenses 600 600
263,312 175,606

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Other loans more 5yrs non-inst 253,359 131,875
Hire purchase contracts 102,104 60,756
355,463 192,631

Live Well Vets Ltd (Registered number: 12249332)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.24 31.10.23
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 253,359 131,875

8. ULTIMATE CONTROLLING PARTY

The controlling party is G Elliott.