Company registration number 07005593 (England and Wales)
RUSTHALL VETERINARY PRACTICE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
RUSTHALL VETERINARY PRACTICE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RUSTHALL VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07005593)
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,127
19,230
Current assets
Stocks
20,637
18,426
Debtors
5
35,012
40,589
Cash at bank and in hand
35,980
20,184
91,629
79,199
Creditors: amounts falling due within one year
6
(97,681)
(83,021)
Net current liabilities
(6,052)
(3,822)
Total assets less current liabilities
9,075
15,408
Creditors: amounts falling due after more than one year
7
(3,542)
(5,560)
Provisions for liabilities
(3,720)
(4,250)
Net assets
1,813
5,598
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,713
5,498
Total equity
1,813
5,598

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

RUSTHALL VETERINARY PRACTICE LIMITED (REGISTERED NUMBER: 07005593)
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 March 2025 and are signed on its behalf by:
Mr I Robertson
Director
RUSTHALL VETERINARY PRACTICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Rusthall Veterinary Practice Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, Kent, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for veterinary services net of VAT. Turnover is recognised once the service has been provided to the customer.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, was amortised over it's useful life of 10 years.

1.4
Tangible fixed assets

Tangible fixed assets ae stated at cost less depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33% on cost

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.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RUSTHALL VETERINARY PRACTICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2023 and 31 October 2024
108,696
Amortisation and impairment
At 1 November 2023 and 31 October 2024
108,696
Carrying amount
At 31 October 2024
-
0
At 31 October 2023
-
0
RUSTHALL VETERINARY PRACTICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
4
Tangible fixed assets
Plant and machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 November 2023
51,793
1,851
2,633
56,277
Additions
-
0
-
0
802
802
At 31 October 2024
51,793
1,851
3,435
57,079
Depreciation and impairment
At 1 November 2023
33,208
1,665
2,174
37,047
Depreciation charged in the year
4,647
46
212
4,905
At 31 October 2024
37,855
1,711
2,386
41,952
Carrying amount
At 31 October 2024
13,938
140
1,049
15,127
At 31 October 2023
18,585
186
459
19,230

At the year-end, assets with a net book value of £4,482 (2023: £5,977) were held under hire purchase agreements.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,812
2,655
Other debtors
31,200
37,934
35,012
40,589
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,041
19,864
Taxation and social security
72,361
58,986
Other creditors
4,279
4,171
97,681
83,021

Included in creditors due within one year are hire purchase liabilities totalling £2,018 (2023 - £2,018) and included in creditors due in more than one year are hire purchase liabilities totalling £3,542 (2023 - £5,560). These liabilities are secured against the assets to which the agreements relate.

RUSTHALL VETERINARY PRACTICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,542
5,560
8
Directors' transactions

Included in debtors due within one year are loans of £13,009 and £13,009 (2023: £16,520 and £16,520) owed by the company's directors. These loans are subject to interest at 2.25% and are repayable on demand.

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