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REGISTERED NUMBER: 10717961 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Hafren Veterinary Group Limited

Hafren Veterinary Group Limited (Registered number: 10717961)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hafren Veterinary Group Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: I G Jones
Mrs H C Jones
Mrs A M Davies
G W Roberts
D L Oliver





REGISTERED OFFICE: Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY





REGISTERED NUMBER: 10717961 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Hafren Veterinary Group Limited (Registered number: 10717961)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 344,000 386,667
Tangible assets 6 383,925 325,708
727,925 712,375

CURRENT ASSETS
Stocks 486,024 327,882
Debtors 7 865,489 928,887
Cash in hand 2,373 500
1,353,886 1,257,269
CREDITORS
Amounts falling due within one year 8 971,498 980,447
NET CURRENT ASSETS 382,388 276,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,110,313

989,197

CREDITORS
Amounts falling due after more than one
year

9

(261,372

)

(291,641

)

PROVISIONS FOR LIABILITIES - (11,530 )
NET ASSETS 848,941 686,026

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 848,839 685,924
848,941 686,026

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hafren Veterinary Group Limited (Registered number: 10717961)

Balance Sheet - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





I G Jones - Director


Hafren Veterinary Group Limited (Registered number: 10717961)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Hafren Veterinary Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Hafren Veterinary Group Limited (Registered number: 10717961)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 58 (2023 - 57 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 640,000
AMORTISATION
At 1 August 2023 253,333
Charge for year 42,667
At 31 July 2024 296,000
NET BOOK VALUE
At 31 July 2024 344,000
At 31 July 2023 386,667

Hafren Veterinary Group Limited (Registered number: 10717961)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 729,943
Additions 202,590
Disposals (59,290 )
At 31 July 2024 873,243
DEPRECIATION
At 1 August 2023 404,235
Charge for year 118,913
Eliminated on disposal (33,830 )
At 31 July 2024 489,318
NET BOOK VALUE
At 31 July 2024 383,925
At 31 July 2023 325,708

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 786,705 870,595
Other debtors 78,784 58,292
865,489 928,887

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 126,926 259,051
Hire purchase contracts 102,239 68,922
Trade creditors 434,029 405,836
Taxation and social security 297,920 232,930
Other creditors 10,384 13,708
971,498 980,447

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 162,494 207,062
Hire purchase contracts 98,878 84,579
261,372 291,641

Hafren Veterinary Group Limited (Registered number: 10717961)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.7.24 31.7.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 37,448

10. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank overdrafts 83,060 215,887
Bank loans 206,360 250,226
289,420 466,113

HSBC Bank PLC hold a fixed and floating charge over all assets of the company.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mrs A M Davies
Balance outstanding at start of year - -
Amounts advanced 32,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 32,000 -