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REGISTERED NUMBER: 10200197 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

KINGSTON VETERINARY CENTRE LTD
TRADING AS
KINGSTON VETS

KINGSTON VETERINARY CENTRE LTD (REGISTERED NUMBER: 10200197)
TRADING AS KINGSTON VETS






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


KINGSTON VETERINARY CENTRE LTD
TRADING AS KINGSTON VETS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J R Ball





SECRETARY: J R Ball





REGISTERED OFFICE: 59-61 Hawks Road
Kingston Upon Thames
Surrey
KT1 3DS





REGISTERED NUMBER: 10200197 (England and Wales)





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

KINGSTON VETERINARY CENTRE LTD
TRADING AS KINGSTON VETS

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
KINGSTON 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 thirteen 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


14 February 2025

KINGSTON VETERINARY CENTRE LTD (REGISTERED NUMBER: 10200197)
TRADING AS KINGSTON VETS

ABRIDGED BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 240,000 240,000
Tangible assets 5 1,043,232 1,050,680
1,283,232 1,290,680

CURRENT ASSETS
Stocks 30,249 29,428
Debtors 14,037 16,152
Cash at bank and in hand 80,401 54,380
124,687 99,960
CREDITORS
Amounts falling due within one year (147,383 ) (147,202 )
NET CURRENT LIABILITIES (22,696 ) (47,242 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,260,536

1,243,438

CREDITORS
Amounts falling due after more than one
year

6

(735,056

)

(804,552

)

PROVISIONS FOR LIABILITIES 9 (8,640 ) -
NET ASSETS 516,840 438,886

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 516,740 438,786
SHAREHOLDERS' FUNDS 516,840 438,886

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.

KINGSTON VETERINARY CENTRE LTD (REGISTERED NUMBER: 10200197)
TRADING AS KINGSTON VETS

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 14 February 2025 and were signed by:





J R Ball - Director


KINGSTON VETERINARY CENTRE LTD (REGISTERED NUMBER: 10200197)
TRADING AS KINGSTON VETS

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

1. STATUTORY INFORMATION

Kingston 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.
Freehold property - in accordance with the property
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

For the freehold property no depreciation charge has been made on the grounds that it would be immaterial because the estimated residual value is not considered to be materially different from the carrying value of the asset.

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.


KINGSTON VETERINARY CENTRE LTD (REGISTERED NUMBER: 10200197)
TRADING AS KINGSTON VETS

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
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 5 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 240,000
NET BOOK VALUE

At 31 May 2024 240,000
At 31 May 2023 240,000

KINGSTON VETERINARY CENTRE LTD (REGISTERED NUMBER: 10200197)
TRADING AS KINGSTON VETS

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 1,099,390
Additions 3,566
At 31 May 2024 1,102,956
DEPRECIATION
At 1 June 2023 48,710
Charge for year 11,014
At 31 May 2024 59,724
NET BOOK VALUE
At 31 May 2024 1,043,232
At 31 May 2023 1,050,680

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 289,858 323,934

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 62,228 62,228
Other loans 11,220 11,220
73,448 73,448

Amounts falling due between one and two years:
Bank loans - 1-2 years 124,457 124,457
Other loans - 1-2 years 9,613 19,613
134,070 144,070

Amounts falling due between two and five years:
Bank loans - 2-5 years 186,685 186,685

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 289,858 323,934

KINGSTON VETERINARY CENTRE LTD (REGISTERED NUMBER: 10200197)
TRADING AS KINGSTON VETS

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 663,228 697,304

Lloyds Bank 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 8,640 -

Deferred
tax
£   
Charge to Income Statement during year 8,640
Balance at 31 May 2024 8,640

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 June 2023 438,786
Profit for the year 77,954
At 31 May 2024 516,740

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed J R Ball £124,443 (2023: £149,503). This loan is interest free and without repayment terms.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J R Ball.