Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Janine Yoskell Redman 08/06/2020 28 March 2025 no description of principal activity 12650274 2024-06-30 12650274 bus:Director1 2024-06-30 12650274 2023-06-30 12650274 core:CurrentFinancialInstruments 2024-06-30 12650274 core:CurrentFinancialInstruments 2023-06-30 12650274 core:ShareCapital 2024-06-30 12650274 core:ShareCapital 2023-06-30 12650274 core:RetainedEarningsAccumulatedLosses 2024-06-30 12650274 core:RetainedEarningsAccumulatedLosses 2023-06-30 12650274 core:LandBuildings 2023-06-30 12650274 core:PlantMachinery 2023-06-30 12650274 core:FurnitureFittings 2023-06-30 12650274 core:ComputerEquipment 2023-06-30 12650274 core:LandBuildings 2024-06-30 12650274 core:PlantMachinery 2024-06-30 12650274 core:FurnitureFittings 2024-06-30 12650274 core:ComputerEquipment 2024-06-30 12650274 core:DeferredTaxation 2023-06-30 12650274 core:DeferredTaxation 2024-06-30 12650274 core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 12650274 core:AcceleratedTaxDepreciationDeferredTax 2023-06-30 12650274 2022-06-30 12650274 bus:OrdinaryShareClass1 2024-06-30 12650274 2023-07-01 2024-06-30 12650274 bus:FilletedAccounts 2023-07-01 2024-06-30 12650274 bus:SmallEntities 2023-07-01 2024-06-30 12650274 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12650274 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12650274 bus:Director1 2023-07-01 2024-06-30 12650274 core:LandBuildings core:TopRangeValue 2023-07-01 2024-06-30 12650274 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 12650274 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 12650274 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 12650274 2022-07-01 2023-06-30 12650274 core:LandBuildings 2023-07-01 2024-06-30 12650274 core:PlantMachinery 2023-07-01 2024-06-30 12650274 core:FurnitureFittings 2023-07-01 2024-06-30 12650274 core:ComputerEquipment 2023-07-01 2024-06-30 12650274 core:DeferredTaxation 2023-07-01 2024-06-30 12650274 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 12650274 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12650274 (England and Wales)

FERNHILL VETERINARY CLINIC LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH THE REGISTRAR

FERNHILL VETERINARY CLINIC LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

FERNHILL VETERINARY CLINIC LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
FERNHILL VETERINARY CLINIC LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
DIRECTOR Janine Yoskell Redman
REGISTERED OFFICE Brockhills Lane
New Milton
Hampshire
BH25 5QL
United Kingdom
COMPANY NUMBER 12650274 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
FERNHILL VETERINARY CLINIC LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
FERNHILL VETERINARY CLINIC LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 30.06.2024 30.06.2023
£ £
Fixed assets
Tangible assets 4 41,738 33,348
41,738 33,348
Current assets
Stocks 5 30,825 22,233
Debtors 6 26,033 29,239
Cash at bank and in hand 7 235,448 186,536
292,306 238,008
Creditors: amounts falling due within one year 8 ( 87,096) ( 81,177)
Net current assets 205,210 156,831
Total assets less current liabilities 246,948 190,179
Provision for liabilities 9, 10 ( 5,306) ( 5,799)
Net assets 241,642 184,380
Capital and reserves
Called-up share capital 11 100 100
Profit and loss account 241,542 184,280
Total shareholder's funds 241,642 184,380

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Fernhill Veterinary Clinic Limited (registered number: 12650274) were approved and authorised for issue by the Director on 28 March 2025. They were signed on its behalf by:

Janine Yoskell Redman
Director
FERNHILL VETERINARY CLINIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
FERNHILL VETERINARY CLINIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fernhill Veterinary Clinic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Brockhills Lane, New Milton, Hampshire, BH25 5QL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
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.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 3 years straight line
Computer equipment 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

30.06.2024 30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 8 7

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 10,312 42,117 1,275 3,064 56,768
Additions 10,406 12,040 3,986 416 26,848
Disposals 0 ( 1,320) 0 0 ( 1,320)
At 30 June 2024 20,718 52,837 5,261 3,480 82,296
Accumulated depreciation
At 01 July 2023 475 21,600 364 981 23,420
Charge for the financial year 1,115 15,192 1,289 853 18,449
Disposals 0 ( 1,311) 0 0 ( 1,311)
At 30 June 2024 1,590 35,481 1,653 1,834 40,558
Net book value
At 30 June 2024 19,128 17,356 3,608 1,646 41,738
At 30 June 2023 9,837 20,517 911 2,083 33,348

5. Stocks

30.06.2024 30.06.2023
£ £
Stocks 30,825 22,233

6. Debtors

30.06.2024 30.06.2023
£ £
Trade debtors 25,294 26,523
Prepayments 739 2,616
Other debtors 0 100
26,033 29,239

7. Cash and cash equivalents

30.06.2024 30.06.2023
£ £
Cash at bank and in hand 234,206 179,274
Short-term deposits 1,242 7,262
235,448 186,536

8. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Trade creditors 28,360 18,550
Amounts owed to director 946 12,148
Accruals 2,999 2,501
Taxation and social security 53,966 47,195
Other creditors 825 783
87,096 81,177

9. Provision for liabilities

30.06.2024 30.06.2023
£ £
Deferred tax 5,306 5,799
Deferred taxation Total
£ £
At 01 July 2023 5,799 5,799
Credited to the Profit and Loss Account ( 493) ( 493)
At 30 June 2024 5,306 5,306

Deferred tax

30.06.2024 30.06.2023
£ £
Accelerated capital allowances 5,306 5,799
Provision for deferred tax 5,306 5,799

10. Deferred tax

30.06.2024 30.06.2023
£ £
At the beginning of financial year ( 5,799) ( 5,635)
Credited/(charged) to the Profit and Loss Account 493 ( 164)
At the end of financial year ( 5,306) ( 5,799)

11. Called-up share capital

30.06.2024 30.06.2023
£ £
Allotted, called-up and fully-paid
100 A ordinary shares of £ 1.00 each 100 100