Registration number: 14002142

Gil Riley Equine Vets Limited

Contents

Abridged Balance Sheet	1
Notes to the Unaudited Abridged Financial Statements	2 to 3

Gil Riley Equine Vets Limited

(Registration number: 14002142)
Abridged Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	667,387	613,848
Current assets
Stocks	5	26,136	30,000
Debtors		28,873	26,758
Cash at bank and in hand		42,864	122,128
		97,873	178,886
Creditors: Amounts falling due within one year	6	(313,212)	(342,110)
Net current liabilities		(215,339)	(163,224)
Total assets less current liabilities		452,048	450,624
Creditors: Amounts falling due after more than one year	7	(385,955)	(410,550)
Provisions for liabilities		(9,289)	-
Net assets		56,804	40,074
Capital and reserves
Called up share capital		200	200
Profit and loss account		56,604	39,874
Total equity		56,804	40,074

For the financial year ending 30 September 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 6 April 2025 and signed on its behalf by:
 

Mr W G Riley

Director

Mrs E J Whiston-Riley

Director

Gil Riley Equine Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 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:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 6 April 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.

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
Plant and machinery	25% reducing balance
Fixtures and fittings	25% straight line
Office equipment	33% straight line
Motor vehicles	25% reducing balance

Stocks

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

Gil Riley Equine Vets Limited

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 4).

4	Tangible assets

	Total £
Cost or valuation
At 1 October 2023	648,400
Additions	101,997
At 30 September 2024	750,397
Depreciation
At 1 October 2023	34,552
Charge for the period	48,458
At 30 September 2024	83,010
Carrying amount
At 30 September 2024	667,387
At 30 September 2023	613,848

5

Stocks

	2024 £	2023 £
Stock	26,136	30,000

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 £18,300 (2023 - £18,400).

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 £382,204 (2023 - £400,451).

Creditors include bank loans repayable by instalments of £309,004 (2023 - £326,852) due after more than five years.