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Registration number: 12575499

Wern Vets Cyf

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2024

 

Wern Vets Cyf

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Wern Vets Cyf

(Registration number: 12575499)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

479,050

515,900

Tangible assets

5

2,222,882

2,334,722

 

2,701,932

2,850,622

Current assets

 

Stocks

614,478

582,110

Debtors

1,154,640

973,781

Cash at bank and in hand

 

455,422

147,885

 

2,224,540

1,703,776

Creditors: Amounts falling due within one year

6

(2,701,202)

(2,956,880)

Net current liabilities

 

(476,662)

(1,253,104)

Total assets less current liabilities

 

2,225,270

1,597,518

Creditors: Amounts falling due after more than one year

7

(269,763)

(329,795)

Provisions for liabilities

(80,967)

(83,080)

Net assets

 

1,874,540

1,184,643

Capital and reserves

 

Called up share capital

340

340

Profit and loss account

1,874,200

1,184,303

Total equity

 

1,874,540

1,184,643

 

Wern Vets Cyf

(Registration number: 12575499)
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 31 March 2025 and signed on its behalf by:
 

Mrs G Jones

Director

Mr G L Jones

Director

 

Wern Vets Cyf

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:
Unit 11
Lon Parcwr Industrial Estate
Ruthin
LL15 1NJ

These financial statements were authorised for issue by the Board on 31 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.

Going concern

The financial statements have been prepared on a going concern basis. Of the company's current liabilities at 30 June 2024, an amount of £1,251,930 is owed to the directors, who have agreed to continue to support the company, and not to demand repayment of the amount to the extent that any such repayment would jeopardise the future of the company.

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.

 

Wern Vets Cyf

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

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

Freehold property

2% Straight line

Motor vehicles

20% Reducing balance

Plant and machinery

20% Reducing balance

Office equipment

25% Reducing balance

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

10% 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 106 (2023 - 108).

4

Intangible assets

Total
£

Cost or valuation

At 1 July 2023

737,000

At 30 June 2024

737,000

Amortisation

At 1 July 2023

221,100

Amortisation charge

36,850

At 30 June 2024

257,950

Carrying amount

At 30 June 2024

479,050

At 30 June 2023

515,900

 

Wern Vets Cyf

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

2,991,488

Additions

94,988

Disposals

(10,202)

At 30 June 2024

3,076,274

Depreciation

At 1 July 2023

656,766

Charge for the year

201,604

Eliminated on disposal

(4,978)

At 30 June 2024

853,392

Carrying amount

At 30 June 2024

2,222,882

At 30 June 2023

2,334,722

6

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 £124,121 (2023 - £122,438).

7

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 £269,762 (2023 - £330,973).

Creditors include bank loans repayable by instalments of £5,308 (2023 - £Nil due after more than five years.