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REGISTERED NUMBER: 07025220 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

COBHAM VETERINARY CENTRE LTD

COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Report of the Accountants 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


COBHAM VETERINARY CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J R Ball





SECRETARY: J R Ball





REGISTERED OFFICE: 4 Park Road
East Molesey
Surrey
KT8 9LE





REGISTERED NUMBER: 07025220 (England and Wales)





ACCOUNTANTS: Accountancy Online Limited
6 Elsley Road
Tilehurst
Reading
RG31 6RN

COBHAM VETERINARY CENTRE LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
COBHAM VETERINARY CENTRE LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2024 set out on pages four to twelve and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Accountancy Online Limited
6 Elsley Road
Tilehurst
Reading
RG31 6RN


26 February 2025

COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)

ABRIDGED BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 530,743 530,743
Tangible assets 5 62,097 55,708
592,840 586,451

CURRENT ASSETS
Stocks 61,105 55,380
Debtors 434,760 68,680
Cash at bank and in hand 215,989 262,695
711,854 386,755
CREDITORS
Amounts falling due within one year (182,547 ) (223,204 )
NET CURRENT ASSETS 529,307 163,551
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,122,147

750,002

CREDITORS
Amounts falling due after more than one year 6 (697,703 ) (423,977 )

PROVISIONS FOR LIABILITIES 9 (4,119 ) (4,816 )
NET ASSETS 420,325 321,209

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 420,323 321,207
SHAREHOLDERS' FUNDS 420,325 321,209

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

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

COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)

ABRIDGED BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 February 2025 and were signed by:





J R Ball - Director


COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Cobham Veterinary Centre 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.

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

Goodwill
As a departure from FRS 102 Section 19 the directors have not amortised goodwill in these financial statements. This treatment is adopted on the basis of the true and fair override concept in the preparation of financial statements. Veterinary businesses tend to increase in value over time and amortisation of goodwill would be in conflict with this underlying commercial reality.

The directors will carry out a regular impairment review to confirm whether the current value of goodwill is at least equal to its carrying value. If not, the goodwill will be written down to the lower value determined in the impairment review less residual value.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% 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 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.


COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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 16 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 530,743
NET BOOK VALUE

At 31 May 2024 530,743
At 31 May 2023 530,743

COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 178,267
Additions 25,694
At 31 May 2024 203,961
DEPRECIATION
At 1 June 2023 122,559
Charge for year 19,305
At 31 May 2024 141,864
NET BOOK VALUE
At 31 May 2024 62,097
At 31 May 2023 55,708

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 June 2023
and 31 May 2024 29,308
DEPRECIATION
At 1 June 2023 21,640
Charge for year 1,917
At 31 May 2024 23,557
NET BOOK VALUE
At 31 May 2024 5,751
At 31 May 2023 7,668

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 352,800 118,362

COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,644 20,744

Amounts falling due between one and two years:
Bank loans - 1-2 years 13,837 21,288

Amounts falling due between two and five years:
Bank loans - 2-5 years - 2,773

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 352,800 118,362

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 24,481 44,805

The Royal Bank Scotland PLC has a fixed and floating charge which covers all the property or undertaking of the company.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 4,119 4,816

Deferred
tax
£   
Balance at 1 June 2023 4,816
Credit to Income Statement during year (697 )
Balance at 31 May 2024 4,119

COBHAM VETERINARY CENTRE LTD (REGISTERED NUMBER: 07025220)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Retained
earnings
£   

At 1 June 2023 321,207
Profit for the year 99,116
At 31 May 2024 420,323

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed Mr J R Ball £327,402 (2023: £272,482). This loan is interest free and without repayment terms.




13. RELATED PARTY DISCLOSURES


Chameleon Ockley Ltd
Mr J R Ball is a director and shareholder.
At the year end the company owed Chameleon Ockley Ltd £Nil (2023: £33,650).

Ambleside Services Ltd
Mr J R Ball and Mrs J N Ball are shareholders.
At the year end Ambleside Services Ltd owed the company £348,267 (2023: £Nil).

Aspen & Ewell Services Ltd
Mr J R Ball and Mrs J N Ball are shareholders.
At the year end Aspen & Ewell Services Ltd owed the company £24,773 (2023: £Nil).

Mrs J N Ball
Mrs J N Ball is a shareholder in the company.
At the year end the company owed Mrs J N Ball £352,800 (2023: £118,362). This loan is interest free and without repayment terms.


Any transactions between the company, Mr J R Ball, Mrs J N Ball, Ambleside Services Ltd, Aspen & Ewell Services Ltd and Chameleon Ockley Ltd are carried out on a commercial basis.

14. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr J R Ball and Mrs J N Ball who own the entire share capital.