IRIS Accounts Production v24.3.2.46 07025246 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070252462023-05-31070252462024-05-31070252462023-06-012024-05-31070252462022-05-31070252462022-06-012023-05-31070252462023-05-3107025246ns15:EnglandWales2023-06-012024-05-3107025246ns14:PoundSterling2023-06-012024-05-3107025246ns10:Director12023-06-012024-05-3107025246ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3107025246ns10:SmallEntities2023-06-012024-05-3107025246ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3107025246ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3107025246ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3107025246ns10:AbridgedAccounts2023-06-012024-05-310702524612023-06-012024-05-3107025246ns10:OrdinaryShareClass12023-06-012024-05-3107025246ns10:Director22023-06-012024-05-3107025246ns10:CompanySecretary12023-06-012024-05-3107025246ns10:RegisteredOffice2023-06-012024-05-3107025246ns5:CurrentFinancialInstruments2024-05-3107025246ns5:CurrentFinancialInstruments2023-05-3107025246ns5:Non-currentFinancialInstruments2024-05-3107025246ns5:Non-currentFinancialInstruments2023-05-3107025246ns5:ShareCapital2024-05-3107025246ns5:ShareCapital2023-05-3107025246ns5:RetainedEarningsAccumulatedLosses2024-05-3107025246ns5:RetainedEarningsAccumulatedLosses2023-05-3107025246ns5:NetGoodwill2023-06-012024-05-3107025246ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3107025246ns5:PlantMachinery2023-06-012024-05-3107025246ns5:FurnitureFittings2023-06-012024-05-3107025246ns5:MotorVehicles2023-06-012024-05-3107025246ns5:ComputerEquipment2023-06-012024-05-3107025246ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-05-3107025246ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-05-3107025246ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-05-3107025246ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-3107025246ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3107025246ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3107025246ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-05-3107025246ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-05-3107025246ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3107025246ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3107025246ns5:Secured2024-05-3107025246ns5:Secured2023-05-3107025246ns5:DeferredTaxation2023-05-3107025246ns5:DeferredTaxation2023-06-012024-05-3107025246ns5:DeferredTaxation2024-05-3107025246ns10:OrdinaryShareClass12024-05-3107025246ns5:RetainedEarningsAccumulatedLosses2023-05-3107025246ns5:RetainedEarningsAccumulatedLosses2023-06-012024-05-3107025246ns5:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties2023-06-012024-05-3107025246ns5:OtherRelatedPartyRelationshipType2ComponentTotalRelatedParties2023-06-012024-05-3107025246ns5:OtherRelatedPartiesns5:OtherTransactionType12023-06-012024-05-3107025246ns5:OtherRelatedPartiesns5:OtherTransactionType22023-06-012024-05-3107025246ns5:OtherTransactionType22023-06-012024-05-3107025246ns5:OtherTransactionType32023-06-012024-05-31
REGISTERED NUMBER: 07025246 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

MOLESEY SERVICES LTD

MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)






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


MOLESEY SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: D R Partridge
J R Ball





SECRETARY: D R Partridge





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





REGISTERED NUMBER: 07025246 (England and Wales)





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

MOLESEY SERVICES LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
MOLESEY SERVICES LTD

The following reproduces the text of the report prepared for the directors 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 Directors 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


26 February 2025

MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

ABRIDGED BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 599,504 599,504
Tangible assets 5 82,030 102,707
681,534 702,211

CURRENT ASSETS
Stocks 60,082 59,882
Debtors 6 238,198 220,346
Cash at bank and in hand 13,173 40,334
311,453 320,562
CREDITORS
Amounts falling due within one year (361,625 ) (303,656 )
NET CURRENT (LIABILITIES)/ASSETS (50,172 ) 16,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

631,362

719,117

CREDITORS
Amounts falling due after more than one
year

7

(628,469

)

(643,616

)

PROVISIONS FOR LIABILITIES 10 (2,670 ) (4,349 )
NET ASSETS 223 71,152

CAPITAL AND RESERVES
Called up share capital 11 4 4
Retained earnings 12 219 71,148
SHAREHOLDERS' FUNDS 223 71,152

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 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.

MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

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 Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





D R Partridge - Director


MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

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

1. STATUTORY INFORMATION

Molesey Services 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.
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

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.


MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

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 9 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 599,504
NET BOOK VALUE

At 31 May 2024 599,504
At 31 May 2023 599,504

MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 217,170
Additions 1,723
At 31 May 2024 218,893
DEPRECIATION
At 1 June 2023 114,463
Charge for year 22,400
At 31 May 2024 136,863
NET BOOK VALUE
At 31 May 2024 82,030
At 31 May 2023 102,707

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

Totals
£   
COST
At 1 June 2023 79,243
Transfer to ownership (5,171 )
At 31 May 2024 74,072
DEPRECIATION
At 1 June 2023 39,241
Charge for year 9,903
Transfer to ownership (4,783 )
At 31 May 2024 44,361
NET BOOK VALUE
At 31 May 2024 29,711
At 31 May 2023 40,002

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 122,027 111,050

MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 192,623 176,463

Repayable by instalments
Bank loans more 5 yr by instal 63,110 83,687

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts (32,471 ) (32,471 )
Bank loans 33,144 33,144
Other loans 11,220 11,220
11,893 11,893

Amounts falling due between one and two years:
Bank loans - 1-2 years 66,288 66,288
Other loans - 1-2 years 10,447 20,447
76,735 86,735

Amounts falling due between two and five years:
Bank loans - 2-5 years 99,432 99,432

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 192,623 176,463

Repayable by instalments
Bank loans more 5 yr by instal 63,110 83,687

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 11,458 -
Bank loans 261,974 282,551
273,432 282,551

Lloyds Bank PLC hold a fixed and floating charge over the company.

MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

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

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,670 4,349

Deferred
tax
£   
Balance at 1 June 2023 4,349
Credit to Income Statement during year (1,679 )
Balance at 31 May 2024 2,670

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4

12. RESERVES
Retained
earnings
£   

At 1 June 2023 71,148
Profit for the year 89,711
Dividends (160,640 )
At 31 May 2024 219

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end D R Partridge owed the company £122,027 (2023: £111,050). J R Ball owed the company £Nil (2023: £Nil). These loans are interest free and without repayment terms.

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £120,480 (2023 - £180,000) were paid to the directors .

MOLESEY SERVICES LTD (REGISTERED NUMBER: 07025246)

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

14. RELATED PARTY DISCLOSURES - continued

Alpha Teddington Ltd
A company in which the directors have a related interest in.
Owned 50% Darren Partridge & 50% Chameleon Henley Ltd
Amount due from the related party at the balance sheet date £27,250 (2023: £27,250).


Alpha Claygate Ltd
A company in which the directors have a related interest in.
Owned 50% Darren Partridge & 50% Chameleon Henley Ltd
Amount due from the related party at the balance sheet date £5,221 (2023: £5,221).



Chameleon Ockley Ltd
A company in which J R Ball is a director and shareholder.
Amount due to related party at the balance sheet date £184,050 (2023: £168,150).


Mrs J N Ball
A shareholder in the company
Has provided an interest free loan to the company with no specific repayment terms.
Amount due to related party at the balance sheet date £192,623 (2023: £176,463).


Any transactions between the company, Mr D R Partridge, Mr J R Ball, Mrs J N Ball, Alpha Teddington Ltd, Alpha Claygate Ltd, Chameleon Ockley Ltd, and Kingston Veterinary Centre Ltd are carried out on a commercial basis.

15. ULTIMATE CONTROLLING PARTY

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