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Registration number: 07464478

WTVETS LTD

trading as Watkins & Tasker Vets

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

 

WTVETS LTD

trading as Watkins & Tasker Vets

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

WTVETS LTD

trading as Watkins & Tasker Vets

(Registration number: 07464478)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

116,669

136,113

Tangible assets

5

741,647

875,853

 

858,316

1,011,966

Current assets

 

Stocks

106,188

102,947

Debtors

207,135

191,595

Cash at bank and in hand

 

359,856

317,634

 

673,179

612,176

Creditors: Amounts falling due within one year

6

(529,428)

(451,147)

Net current assets

 

143,751

161,029

Total assets less current liabilities

 

1,002,067

1,172,995

Creditors: Amounts falling due after more than one year

7

(510,662)

(579,152)

Provisions for liabilities

(78,208)

(54,724)

Net assets

 

413,197

539,119

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

413,097

539,019

Total equity

 

413,197

539,119

 

WTVETS LTD

trading as Watkins & Tasker Vets

(Registration number: 07464478)
Abridged Balance Sheet as at 31 December 2024

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.

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 director acknowledges his 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 director on 10 April 2025
 

Mr S Tasker

Director

 

WTVETS LTD

trading as Watkins & Tasker Vets

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 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:
57 High Street
Yatton
North Somerset
BS49 4EQ

These financial statements were authorised for issue by the director on 10 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.

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 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.

 

WTVETS LTD

trading as Watkins & Tasker Vets

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

Leasehold property

Over the life of the lease

Equipment, fixtures and fittings

25% straight line basis

Office equipment

33% straight line basis

Plant and machinery

25% straight line basis

Motor vehicles

25% reducing balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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

5% straight line basis

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 the director) during the year, was 60 (2023 - 57).

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2024

388,885

At 31 December 2024

388,885

Amortisation

At 1 January 2024

252,772

Amortisation charge

19,444

At 31 December 2024

272,216

Carrying amount

At 31 December 2024

116,669

At 31 December 2023

136,113

 

WTVETS LTD

trading as Watkins & Tasker Vets

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

5

Tangible assets

Total
£

Cost or valuation

At 1 January 2024

1,741,318

Additions

35,621

At 31 December 2024

1,776,939

Depreciation

At 1 January 2024

865,465

Charge for the year

169,827

At 31 December 2024

1,035,292

Carrying amount

At 31 December 2024

741,647

At 31 December 2023

875,853

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 £66,600 (2023 - £64,800).

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 £510,663 (2023 - £579,152).

Creditors include bank loans repayable by instalments of £244,263 (2023 - £319,952) due after more than five years.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,917 (2023 - £5,960).