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Registration number: 07595462

Shepton Veterinary Group Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Shepton Veterinary Group Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Shepton Veterinary Group Limited

(Registration number: 07595462)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

791,349

904,399

Tangible assets

5

893,014

806,145

Other financial assets

6

10,000

10,000

 

1,694,363

1,720,544

Current assets

 

Stocks

7

201,997

158,524

Debtors

1,567,436

1,461,466

Cash at bank and in hand

 

648,916

243,966

 

2,418,349

1,863,956

Creditors: Amounts falling due within one year

8

(1,011,671)

(702,998)

Net current assets

 

1,406,678

1,160,958

Total assets less current liabilities

 

3,101,041

2,881,502

Creditors: Amounts falling due after more than one year

9

(599,312)

(648,777)

Provisions for liabilities

(92,886)

(80,855)

Net assets

 

2,408,843

2,151,870

Capital and reserves

 

Called up share capital

150

150

Profit and loss account

2,408,693

2,151,720

Total equity

 

2,408,843

2,151,870

 

Shepton Veterinary Group Limited

(Registration number: 07595462)
Abridged Balance Sheet as at 30 June 2024

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.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

Mrs A E Hares

Director

Mr C M Neale

Director

Mrs S L Lane-Kieltyka

Director

Mr M Law

Director

 

Shepton Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Allyn Saxon Drive
Shepton Mallet
Somerset
BA4 5QH

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line

Leasehold improvements

20% straight line

Plant and machinery

25% reducing balance

Office equipment

40% reducing balance

Motor vehicles

25% reducing balance

 

Shepton Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5-33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 69 (2023 - 67).

4

Intangible assets

Total
£

Cost or valuation

At 1 July 2023

2,327,897

At 30 June 2024

2,327,897

Amortisation

At 1 July 2023

1,423,498

Amortisation charge

113,050

At 30 June 2024

1,536,548

Carrying amount

At 30 June 2024

791,349

At 30 June 2023

904,399

 

Shepton Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Total
£

Cost or valuation

At 1 July 2023

1,310,346

Additions

184,839

Disposals

(16,790)

At 30 June 2024

1,478,395

Depreciation

At 1 July 2023

504,201

Charge for the year

91,708

Eliminated on disposal

(10,528)

At 30 June 2024

585,381

Carrying amount

At 30 June 2024

893,014

At 30 June 2023

806,145

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

10,000

10,000

At 30 June 2024

10,000

10,000

Carrying amount

At 30 June 2024

10,000

10,000

7

Stocks

2024
£

2023
£

Stock

201,997

158,524

8

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £51,800 (2023 - £54,100).

 

Shepton Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2024

9

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £599,312 (2023 - £648,777).

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £5,720 (2023 - £6,600).

11

Related party transactions

Advances to directors


Mr P J Gordon

During the period Mr P J Gordon went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £97,369 (2023 - £24,716). At the year end the amount outstanding from Mr P J Gordon was £115,962 (2023 - £18,593). Interest has been charged at the commercial rate.


Mrs S L Lane-Kieltyka

During the period Mrs S L Lane-Kieltyka went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £10,610 (2023 - £10,724). At the year end the amount outstanding from Mrs S L Lane-Kieltyka was £Nil (2023 - £6,878). Interest has been charged at the commercial rate.


Mr M Law

During the period Mr M Law went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £59,472 (2023 - £41,539). At the year end the amount outstanding from Mr M Law was £Nil (2023 - £30,805). Interest has been charged at the commercial rate.


Mr C M Neale

During the period Mr C M Neale went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £31,250 (2023 - £31,039). At the year end the amount outstanding from Mr C M Neale was £Nil (2023 - £19,884). Interest has been charged at the commercial rate.


Mrs A E Hares

During the period Mrs A E Hares went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £28,420 (2023 - £68,097). At the year end the amount outstanding from Mrs A E Hares was £Nil (2023 - £20,423). Interest has been charged at the commercial rate.