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Registration number: 07894464

Wolds Veterinary Clinic Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

 

Wolds Veterinary Clinic Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Wolds Veterinary Clinic Ltd

(Registration number: 07894464)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

262,640

1,484,340

Current assets

 

Stocks

66,180

38,632

Debtors

533,634

164,700

Cash at bank and in hand

 

381,219

308,036

 

981,033

511,368

Creditors: Amounts falling due within one year

(637,674)

(658,167)

Net current assets/(liabilities)

 

343,359

(146,799)

Total assets less current liabilities

 

605,999

1,337,541

Creditors: Amounts falling due after more than one year

-

(461,413)

Provisions for liabilities

(60,361)

(124,529)

Net assets

 

545,638

751,599

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

545,438

751,399

Total equity

 

545,638

751,599

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 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.

 

Wolds Veterinary Clinic Ltd

(Registration number: 07894464)
Abridged Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 9 June 2025 and signed on its behalf by:
 

Mr P R J Dixon

Director

Mr P Mutondo

Director

Mrs A M Dixon

Director

Mrs L Mutondo

Director

 

Wolds Veterinary Clinic Ltd

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:
Hewitts Business Park
Altyre Way
Humberstone
Grimsby
DN36 4RJ

These financial statements were authorised for issue by the Board on 9 June 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.

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.

 

Wolds Veterinary Clinic Ltd

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

Freehold property

2% straight line

Long leasehold property

10% straight line

Fixtures and fittings

25% straight line

Office equipment

25% reducing balance

Motor vehicles

25% straight line

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

Website

10% straight line

Stocks

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2023 - 37).

 

Wolds Veterinary Clinic Ltd

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

4

Intangibles assets

Total
£

Cost or valuation

At 1 January 2024

899

At 31 December 2024

899

Amortisation

At 1 January 2024

899

At 31 December 2024

899

Carrying amount

At 31 December 2024

-

5

Tangible assets

Total
£

Cost or valuation

At 1 January 2024

1,858,127

Additions

119,482

Disposals

(1,402,236)

At 31 December 2024

575,373

Depreciation

At 1 January 2024

373,787

Charge for the year

90,999

Eliminated on disposal

(152,053)

At 31 December 2024

312,733

Carrying amount

At 31 December 2024

262,640

At 31 December 2023

1,484,340