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Registration number: 08967296

Mount Vets Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Mount Vets Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

Mount Vets Limited

(Registration number: 08967296)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,170,032

1,290,036

Tangible assets

5

644,567

693,358

Other financial assets

6

10,000

10,000

 

1,824,599

1,993,394

Current assets

 

Stocks

7

152,103

140,413

Debtors

845,878

834,508

Cash at bank and in hand

 

1,163,814

1,381,397

 

2,161,795

2,356,318

Creditors: Amounts falling due within one year

(703,225)

(1,301,452)

Net current assets

 

1,458,570

1,054,866

Total assets less current liabilities

 

3,283,169

3,048,260

Provisions for liabilities

(142,094)

(145,489)

Net assets

 

3,141,075

2,902,771

Capital and reserves

 

Called up share capital

840

840

Profit and loss account

3,140,235

2,901,931

Total equity

 

3,141,075

2,902,771

For the financial year ending 30 September 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 of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 23 January 2025 and signed on its behalf by:
 

Mr E J Chant

Director

 

Mount Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Taunton Road
Wellington
Somerset
TA21 9FG

These financial statements were authorised for issue by the Board on 23 January 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

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 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Leasehold property

10% Straight line

Motor vehicles

20% Reducing balance

Plant and machinery

20% Reducing balance

 

Mount Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

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:

Asset class

Amortisation method and rate

Goodwill

5% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 85 (2023 - 85).

4

Intangible assets

Total
£

Cost or valuation

At 1 October 2023

2,400,072

At 30 September 2024

2,400,072

Amortisation

At 1 October 2023

1,110,036

Amortisation charge

120,004

At 30 September 2024

1,230,040

Carrying amount

At 30 September 2024

1,170,032

At 30 September 2023

1,290,036

 

Mount Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Total
£

Cost or valuation

At 1 October 2023

1,442,281

Additions

100,657

Disposals

(36,429)

At 30 September 2024

1,506,509

Depreciation

At 1 October 2023

748,923

Charge for the year

142,245

Eliminated on disposal

(29,226)

At 30 September 2024

861,942

Carrying amount

At 30 September 2024

644,567

At 30 September 2023

693,358

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2023

10,000

10,000

At 30 September 2024

10,000

10,000

Carrying amount

At 30 September 2024

10,000

10,000

7

Stocks

2024
£

2023
£

Stock

152,103

140,413

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £303,750 (2023 - £446,250). Financial commitments are secured against the company's use of the assets.