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REGISTERED NUMBER: 07627856 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

FAMILY FRIENDS VETERINARY CENTRE LTD

FAMILY FRIENDS VETERINARY CENTRE LTD (REGISTERED NUMBER: 07627856)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 8


FAMILY FRIENDS VETERINARY CENTRE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs S Gill
Mr C Gill





REGISTERED OFFICE: The School House
Elmshott Lane
Slough
SL1 5RB





REGISTERED NUMBER: 07627856 (England and Wales)





ACCOUNTANTS: Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FAMILY FRIENDS VETERINARY CENTRE 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Family Friends Veterinary Centre Ltd for the year ended 30 June 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Family Friends Veterinary Centre Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Family Friends Veterinary Centre Ltd and state those matters that we have agreed to state to the Board of Directors of Family Friends Veterinary Centre Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Family Friends Veterinary Centre Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Family Friends Veterinary Centre Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Family Friends Veterinary Centre Ltd. You consider that Family Friends Veterinary Centre Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Family Friends Veterinary Centre Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE


19 March 2025

FAMILY FRIENDS VETERINARY CENTRE LTD (REGISTERED NUMBER: 07627856)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,389,981 1,368,309
1,389,981 1,368,309

CURRENT ASSETS
Stocks 6 26,000 22,000
Debtors 7 67,877 64,026
Cash at bank 91,745 41,664
185,622 127,690
CREDITORS
Amounts falling due within one year 8 213,379 221,847
NET CURRENT LIABILITIES (27,757 ) (94,157 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,362,224

1,274,152

CREDITORS
Amounts falling due after more than one
year

9

(847,819

)

(837,388

)

PROVISIONS FOR LIABILITIES (49,264 ) (40,713 )
NET ASSETS 465,141 396,051

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 465,139 396,049
SHAREHOLDERS' FUNDS 465,141 396,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

FAMILY FRIENDS VETERINARY CENTRE LTD (REGISTERED NUMBER: 07627856)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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

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 19 March 2025 and were signed on its behalf by:





Mr C Gill - Director


FAMILY FRIENDS VETERINARY CENTRE LTD (REGISTERED NUMBER: 07627856)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Family Friends Veterinary Centre Limited is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is The School House, Elmshott Lane, Slough, SL1 5RB. The registered number is 07627856.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

The directors have assessed expected future cashflows, giving due consideration to all relevant factors affecting the company. The directors have considered the potential impact on the company as well as its capital resources and believe that the company has adequate resources in place to continue in operation for at least twelve months from the date of approval of the financial statements. Consequently, the company continues to adopt the going concern basis in preparing these financial statements

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life:

Land and buildings- straight line 2%
Improvements to
property

- straight line 2%
Plant and machinery- straight line 20%
Fixtures and fittings- straight line 20%

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FAMILY FRIENDS VETERINARY CENTRE LTD (REGISTERED NUMBER: 07627856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 statement of financial position date.

Leases
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.

Loans and borrowings
Interest-bearing loans and borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

Loans and borrowing that are due within one year are not discounted to present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 738,168
AMORTISATION
At 1 July 2023
and 30 June 2024 738,168
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

FAMILY FRIENDS VETERINARY CENTRE LTD (REGISTERED NUMBER: 07627856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 1 July 2023 543,663 839,152 98,597 8,287 1,489,699
Additions - 6,803 60,991 658 68,452
At 30 June 2024 543,663 845,955 159,588 8,945 1,558,151
DEPRECIATION
At 1 July 2023 32,619 - 84,587 4,184 121,390
Charge for year 10,873 16,919 17,831 1,157 46,780
At 30 June 2024 43,492 16,919 102,418 5,341 168,170
NET BOOK VALUE
At 30 June 2024 500,171 829,036 57,170 3,604 1,389,981
At 30 June 2023 511,044 839,152 14,010 4,103 1,368,309


6. STOCKS
2024 2023
£    £   
Stocks 26,000 22,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 51,277 33,083
Other debtors 15,000 15,000
Corporation tax - 5,015
Prepayments and accrued income 1,600 10,928
67,877 64,026

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 66,732 55,804
Hire purchase contracts 8,973 1,042
Trade creditors 49,586 60,739
Taxation and social security 82,049 32,197
Other creditors 6,039 72,065
213,379 221,847

FAMILY FRIENDS VETERINARY CENTRE LTD (REGISTERED NUMBER: 07627856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 812,882 837,388
Hire purchase contracts 34,937 -
847,819 837,388

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 633,074 662,187

10. SECURED DEBTS

Bank loans and hire purchase contracts totalling £923,344 (2023- £893,192) are secured by a fixed and floating charge over the company's assets and a guarantee provided by the directors.

11. CALLED UP SHARE CAPITAL

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