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REGISTERED NUMBER: 08494472 (England and Wales)










The Forum Veterinary Practice Limited

Financial Statements

for the Year Ended 30th April 2024






The Forum Veterinary Practice Limited (Registered number: 08494472)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


The Forum Veterinary Practice Limited (Registered number: 08494472)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 256,500 285,000
Tangible assets 5 265,041 259,991
521,541 544,991

CURRENT ASSETS
Stocks 30,275 31,623
Debtors 6 91,372 76,840
Cash at bank and in hand 144,867 184,032
266,514 292,495
CREDITORS
Amounts falling due within one year 7 455,860 332,451
NET CURRENT LIABILITIES (189,346 ) (39,956 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

332,195

505,035

PROVISIONS FOR LIABILITIES 11,349 10,966
NET ASSETS 320,846 494,069

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 320,546 493,769
SHAREHOLDERS' FUNDS 320,846 494,069

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

The Forum Veterinary Practice Limited (Registered number: 08494472)

Balance Sheet - continued
30th April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th January 2025 and were signed on its behalf by:




R Benson - Director J E R Babb - Director




R Darvill - Director


The Forum Veterinary Practice Limited (Registered number: 08494472)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

The Forum Veterinary Practice Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08494472

Registered office: 45 Lewis Lane
Cirencester
Gloucestershire
GL7 1EA

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, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 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 Profit and Loss Account, 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.

The Forum Veterinary Practice Limited (Registered number: 08494472)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 20 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2023
and 30th April 2024 570,000
AMORTISATION
At 1st May 2023 285,000
Amortisation for year 28,500
At 30th April 2024 313,500
NET BOOK VALUE
At 30th April 2024 256,500
At 30th April 2023 285,000

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1st May 2023 254,304 101,758 50,452 406,514
Additions - 10,632 10,899 21,531
At 30th April 2024 254,304 112,390 61,351 428,045
DEPRECIATION
At 1st May 2023 45,664 57,545 43,314 146,523
Charge for year 5,086 7,340 4,055 16,481
At 30th April 2024 50,750 64,885 47,369 163,004
NET BOOK VALUE
At 30th April 2024 203,554 47,505 13,982 265,041
At 30th April 2023 208,640 44,213 7,138 259,991

The Forum Veterinary Practice Limited (Registered number: 08494472)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,828 68,016
Other debtors 4,544 8,824
91,372 76,840

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 52,233 46,852
Taxation and social security 190,418 136,823
Other creditors 213,209 148,776
455,860 332,451