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Registration number: 07451596

Bakewell Veterinary Clinic Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Bakewell Veterinary Clinic Limited

(Registration number: 07451596)

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

-

-

Tangible assets

4

157,918

168,143

 

157,918

168,143

Current assets

 

Stocks

83,300

76,760

Debtors

5

406,668

378,794

Cash at bank and in hand

 

214,683

219,211

 

704,651

674,765

Creditors: Amounts falling due within one year

6

(669,819)

(610,010)

Net current assets

 

34,832

64,755

Total assets less current liabilities

 

192,750

232,898

Creditors: Amounts falling due after more than one year

6

(5,286)

(15,661)

Provisions for liabilities

(39,480)

(42,034)

Net assets

 

147,984

175,203

Capital and reserves

 

Called up share capital

4,000

4,000

Retained earnings

143,984

171,203

Shareholders' funds

 

147,984

175,203

 

Bakewell Veterinary Clinic Limited

(Registration number: 07451596)

Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised by the Board on 24 March 2025 and signed on its behalf by:
 

.........................................
G W Bramwell
Director

.........................................
W J Schaper
Director

 
     
 

Bakewell Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

Accounting policies

Statutory information

Bakewell Veterinary Clinic Limited is a private company, limited by shares, domiciled in England and Wales, company number 07451596. The registered office is at Milford Farm, Mill Street, Bakewell, DE45 1DX.

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been 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 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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Revenue is recognised at the point of sale or upon the delivery of services.

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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bakewell Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Fixtures and fittings

20% straight line

Motor vehicles

25% straight line

Office equipment

10%-33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

3 and 10 years straight line

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 26).

 

Bakewell Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Intangible assets

Goodwill
 £

Cost or valuation

At 1 January 2024

673,250

At 31 December 2024

673,250

Amortisation

At 1 January 2024

673,250

At 31 December 2024

673,250

Carrying amount

At 31 December 2024

-

At 31 December 2023

-

 

Bakewell Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Plant and machinery
£

Fixtures and fittings
£

Motor vehicles
 £

Office equipment
 £

Total
£

Cost

At 1 January 2024

397,595

38,381

90,539

64,352

590,867

Additions

9,952

520

53,677

1,906

66,055

Disposals

-

-

(39,756)

-

(39,756)

At 31 December 2024

407,547

38,901

104,460

66,258

617,166

Depreciation

At 1 January 2024

291,394

37,656

43,713

49,961

422,724

Charge for the year

32,023

472

23,834

7,527

63,856

Eliminated on disposal

-

-

(27,332)

-

(27,332)

At 31 December 2024

323,417

38,128

40,215

57,488

459,248

Carrying amount

At 31 December 2024

84,130

773

64,245

8,770

157,918

At 31 December 2023

106,201

725

46,826

14,391

168,143

5

Debtors

2024
£

2023
£

Trade debtors

356,325

331,471

Prepayments

50,343

47,323

 

406,668

378,794

 

Bakewell Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

2024
£

2023
£

Due within one year

Bank borrowings

10,375

10,119

HP and finance lease liabilities

-

9,292

Directors' loan account

-

100,000

Trade creditors

212,209

195,917

Taxation and social security

265,798

261,659

Outstanding defined contribution pension costs

4,246

3,837

Other creditors

170,000

20,000

Accrued expenses

7,191

9,186

669,819

610,010

2024
£

2023
£

Due after one year

Bank borrowings

5,286

15,661

7

Financial commitments, guarantees and contingencies

Operating leases

The total amount of financial commitments not included in the balance sheet is £191,587 (2023 - £236,499).