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Registration number: 10014616

Vale Veterinary Centre Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 28 April 2024

 

Vale Veterinary Centre Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Vale Veterinary Centre Limited

(Registration number: 10014616)
Abridged Balance Sheet as at 28 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

80,000

120,000

Tangible assets

5

222,628

237,209

 

302,628

357,209

Current assets

 

Stocks

28,260

28,681

Debtors

893,235

203,121

Cash at bank and in hand

 

45,234

82,867

 

966,729

314,669

Creditors: Amounts falling due within one year

6

(906,656)

(503,348)

Net current assets/(liabilities)

 

60,073

(188,679)

Total assets less current liabilities

 

362,701

168,530

Creditors: Amounts falling due after more than one year

7

(283,894)

(128,340)

Provisions for liabilities

(31,658)

(39,622)

Net assets

 

47,149

568

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

47,049

468

Total equity

 

47,149

568

 

Vale Veterinary Centre Limited

(Registration number: 10014616)
Abridged Balance Sheet as at 28 April 2024

For the financial year ending 28 April 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 8 May 2025
 

Mr R D Williams

Director

 

Vale Veterinary Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 April 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 7-8
Ty Verlon Industrial Estate
Cardiff Road
Barry
CF63 2BE
Wales

These financial statements were authorised for issue by the director on 8 May 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.

Going concern

The financial statements have been prepared on a going concern basis. The director has considered the
financial position of the company and considers it to remain viable as a going concern for a period of at least 12
months.

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 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.

 

Vale Veterinary Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 April 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 improvements

10% straight line

Motor vehicles

25% reducing balance

Plant and machinery

20% reducing balance

Fixtures and fittings

15% reducing balance

Office equipment

15% 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

10% straight line

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 23 (2023 - 25).

 

Vale Veterinary Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 April 2024

4

Intangible assets

Total
£

Cost or valuation

At 29 April 2023

400,000

At 28 April 2024

400,000

Amortisation

At 29 April 2023

280,000

Amortisation charge

40,000

At 28 April 2024

320,000

Carrying amount

At 28 April 2024

80,000

At 28 April 2023

120,000

5

Tangible assets

Total
£

Cost or valuation

At 29 April 2023

407,701

Additions

35,162

Disposals

(9,795)

At 28 April 2024

433,068

Depreciation

At 29 April 2023

170,492

Charge for the year

42,717

Eliminated on disposal

(2,769)

At 28 April 2024

210,440

Carrying amount

At 28 April 2024

222,628

At 28 April 2023

237,209

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 £192,136 (2023 - £112,200).

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 £283,894 (2023 - £128,341).

 

Vale Veterinary Centre Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 April 2024

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 £242,688 (2023 - £322,634).

9

Related party transactions

2024

At 29 April 2023
£

Advances to directors
£

Repayments by director
£

At 28 April 2024
£

Mr R D Williams

Directors' advances and credits - repayable on demand and interest charged at commercial rate

92,469

629,158

(118,925)

602,702

         
       

 

2023

At 30 April 2022
£

Advances to directors
£

Repayments by director
£

At 28 April 2023
£

Mr R D Williams

Directors' advances and credits - repayable on demand and interest charged at commercial rate

243,988

242,548

(394,067)

92,469