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Registration number: 06906275

Bay Tree Veterinary Centre Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Bay Tree Veterinary Centre Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Bay Tree Veterinary Centre Limited

Company Information

Director

Miss LP Taylor

Registered office

22 Mitton Gardens
Stourport-On-Severn
Worcestershire
DY13 9AE

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Bay Tree Veterinary Centre Limited

(Registration number: 06906275)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

31,350

37,621

Tangible assets

5

201,788

201,579

 

233,138

239,200

Current assets

 

Stocks

6

13,306

12,289

Debtors

7

18,855

17,880

Cash at bank and in hand

 

206,162

272,033

 

238,323

302,202

Creditors: Amounts falling due within one year

8

(173,393)

(171,384)

Net current assets

 

64,930

130,818

Total assets less current liabilities

 

298,068

370,018

Provisions for liabilities

(17,355)

(17,187)

Net assets

 

280,713

352,831

Capital and reserves

 

Called up share capital

120

120

Retained earnings

280,593

352,711

Shareholders' funds

 

280,713

352,831

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 January 2025
 

 

Bay Tree Veterinary Centre Limited

(Registration number: 06906275)
Balance Sheet as at 31 July 2024

.........................................
Miss LP Taylor
Director

   
     
 

Bay Tree Veterinary Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
22 Mitton Gardens
Stourport-On-Severn
Worcestershire
DY13 9AE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Bay Tree Veterinary Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & buildings

3% straight line

Fixtures & fittings

15% reducing balance

Office Equipment

33.3% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Bay Tree Veterinary Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 13).

 

Bay Tree Veterinary Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2023

125,415

125,415

At 31 July 2024

125,415

125,415

Amortisation

At 1 August 2023

87,794

87,794

Amortisation charge

6,271

6,271

At 31 July 2024

94,065

94,065

Carrying amount

At 31 July 2024

31,350

31,350

At 31 July 2023

37,621

37,621

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

144,800

190,702

335,502

Additions

4,000

19,797

23,797

At 31 July 2024

148,800

210,499

359,299

Depreciation

At 1 August 2023

11,968

121,955

133,923

Charge for the year

4,464

19,124

23,588

At 31 July 2024

16,432

141,079

157,511

Carrying amount

At 31 July 2024

132,368

69,420

201,788

At 31 July 2023

132,832

68,747

201,579

Included within the net book value of land and buildings above is £132,368 (2023 - £132,832) in respect of long leasehold land and buildings.
 

 

Bay Tree Veterinary Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Stocks

2024
£

2023
£

Other inventories

13,306

12,289

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

4,019

15,863

Amounts owed by related parties

1,183

-

Prepayments

 

3,802

-

Other debtors

 

9,851

2,017

   

18,855

17,880

8

Creditors

2024
£

2023
£

Due within one year

Trade creditors

31,677

32,631

Amounts owed to related parties

5,894

790

Taxation and social security

49,760

32,453

Other creditors

86,062

105,510

173,393

171,384

9

Parent and ultimate parent undertaking

The company's immediate parent is Discovery Veterinary Centre Limited, incorporated in England and Wales.