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Registration number: 10833201

Afon Veterinary Centre Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Afon Veterinary Centre Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Afon Veterinary Centre Limited

(Registration number: 10833201)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,206,400

1,299,200

Tangible assets

5

664,556

687,117

 

1,870,956

1,986,317

Current assets

 

Stocks

98,286

91,743

Debtors

150,054

132,197

Cash at bank and in hand

 

660,941

713,155

 

909,281

937,095

Creditors: Amounts falling due within one year

6

(642,387)

(1,057,664)

Net current assets/(liabilities)

 

266,894

(120,569)

Total assets less current liabilities

 

2,137,850

1,865,748

Creditors: Amounts falling due after more than one year

7

-

(10,975)

Provisions for liabilities

(23,464)

(24,469)

Net assets

 

2,114,386

1,830,304

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

2,114,286

1,830,204

Total equity

 

2,114,386

1,830,304

 

Afon Veterinary Centre Limited

(Registration number: 10833201)
Abridged Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 9 January 2025 and signed on its behalf by:
 

Mr GE Mulligan

Director

Mr DA Barker

Director

Miss CI Costello

Director

Mr R Smith

Director

 

Afon Veterinary Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 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:
Lletty Nedd
Penydre
Neath
Neath Port Talbot
SA11 3HH

These financial statements were authorised for issue by the Board on 9 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. Of the company's current liabilities at 31 August 2024, an amount is owed to the directors, who have agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

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.

 

Afon Veterinary Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

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

Freehold land and buildings

2% Straight line

Fixtures and fittings

15% Reducing balance

Motor vehicles

25% Reducing balance

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 55 (2023 - 51).

4

Intangible assets

Total
£

Cost or valuation

At 1 September 2023

1,856,000

At 31 August 2024

1,856,000

Amortisation

At 1 September 2023

556,800

Amortisation charge

92,800

At 31 August 2024

649,600

Carrying amount

At 31 August 2024

1,206,400

At 31 August 2023

1,299,200

 

Afon Veterinary Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Total
£

Cost or valuation

At 1 September 2023

864,905

Additions

7,154

At 31 August 2024

872,059

Depreciation

At 1 September 2023

177,788

Charge for the year

29,715

At 31 August 2024

207,503

Carrying amount

At 31 August 2024

664,556

At 31 August 2023

687,117

6

Creditors: amounts falling due within one year

Creditors include bank loans of £15,962 (2023 - £35,400).

7

Creditors: amounts falling due after more than one year

Creditors include bank loans of £nil (2023 - £10,975).

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 £12,799 (2023 - £12,925).