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REGISTERED NUMBER: 08206073 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Midshire Veterinary Group Limited

Midshire Veterinary Group Limited (Registered number: 08206073)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Midshire Veterinary Group Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: I T Price
Miss H L Fletcher
A Rosiello
T D Clifton





REGISTERED OFFICE: Edward Street
Nuneaton
Warwickshire
CV11 5RP





REGISTERED NUMBER: 08206073 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Midshire Veterinary Group Limited (Registered number: 08206073)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 376,000 423,000
Tangible assets 5 74,819 42,600
Investments 6 10,000 10,000
460,819 475,600

CURRENT ASSETS
Stocks 102,422 121,581
Debtors 7 173,580 208,051
Cash at bank and in hand 296,821 262,833
572,823 592,465
CREDITORS
Amounts falling due within one year 8 380,858 401,204
NET CURRENT ASSETS 191,965 191,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,784

666,861

CREDITORS
Amounts falling due after more than one year 9 (7,443 ) -

PROVISIONS FOR LIABILITIES (15,877 ) (7,409 )
NET ASSETS 629,464 659,452

CAPITAL AND RESERVES
Called up share capital 11 400 400
Retained earnings 629,064 659,052
SHAREHOLDERS' FUNDS 629,464 659,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Midshire Veterinary Group Limited (Registered number: 08206073)

Balance Sheet - continued
30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:




I T Price - Director Miss H L Fletcher - Director




A Rosiello - Director T D Clifton - Director


Midshire Veterinary Group Limited (Registered number: 08206073)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Midshire 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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 2012, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on reducing balance

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 Profit and Loss Account, 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.

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.

Midshire Veterinary Group Limited (Registered number: 08206073)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 42 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 940,000
AMORTISATION
At 1 October 2023 517,000
Amortisation for year 47,000
At 30 September 2024 564,000
NET BOOK VALUE
At 30 September 2024 376,000
At 30 September 2023 423,000

Midshire Veterinary Group Limited (Registered number: 08206073)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023 182,304
Additions 48,015
Disposals (25,485 )
At 30 September 2024 204,834
DEPRECIATION
At 1 October 2023 139,704
Charge for year 12,484
Eliminated on disposal (22,173 )
At 30 September 2024 130,015
NET BOOK VALUE
At 30 September 2024 74,819
At 30 September 2023 42,600

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and
fittings
£   
COST
Additions 22,328
At 30 September 2024 22,328
DEPRECIATION
Charge for year 1,489
At 30 September 2024 1,489
NET BOOK VALUE
At 30 September 2024 20,839

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023
and 30 September 2024 10,000
NET BOOK VALUE
At 30 September 2024 10,000
At 30 September 2023 10,000

Midshire Veterinary Group Limited (Registered number: 08206073)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 137,390 175,537
Other debtors 20,853 12,888
Prepayments 15,337 19,626
173,580 208,051

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 10) 11,164 -
Trade creditors 112,603 139,860
Tax 107,295 98,719
Social security and other taxes 148,726 142,625
Other creditors 557 18,411
Directors' current accounts 513 1,589
380,858 401,204

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts (see note 10) 7,443 -

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 11,164 -
Between one and five years 7,443 -
18,607 -

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 111,039 62,057
Between one and five years 436,476 100,355
547,515 162,412

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
400 Ordinary £1 400 400

Midshire Veterinary Group Limited (Registered number: 08206073)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
R G Henderson
Balance outstanding at start of year (307 ) (73 )
Amounts advanced 27,147 46,254
Amounts repaid (26,840 ) (46,488 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (307 )

I T Price
Balance outstanding at start of year (326 ) (248 )
Amounts advanced 83,722 90,860
Amounts repaid (83,544 ) (90,938 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (148 ) (326 )

Miss H L Fletcher
Balance outstanding at start of year (357 ) (237 )
Amounts advanced 83,792 90,818
Amounts repaid (83,544 ) (90,938 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (109 ) (357 )

A Rosiello
Balance outstanding at start of year (302 ) (201 )
Amounts advanced 77,202 83,725
Amounts repaid (77,016 ) (83,826 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (116 ) (302 )

T D Clifton
Balance outstanding at start of year (296 ) (50 )
Amounts advanced 56,870 44,464
Amounts repaid (56,712 ) (44,710 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (138 ) (296 )