The Vet Group Ltd 15479120 false 2024-02-10 2024-09-30 2024-09-30 The principal activity of the company is Activities of other holding companies. Digita Accounts Production Advanced 6.30.9574.0 true false true 15479120 2024-02-10 2024-09-30 15479120 2024-09-30 15479120 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-09-30 15479120 core:CurrentFinancialInstruments 2024-09-30 15479120 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 15479120 core:Non-currentFinancialInstruments 2024-09-30 15479120 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 15479120 core:AdditionsToInvestments 2024-09-30 15479120 bus:SmallEntities 2024-02-10 2024-09-30 15479120 bus:AuditExemptWithAccountantsReport 2024-02-10 2024-09-30 15479120 bus:FilletedAccounts 2024-02-10 2024-09-30 15479120 bus:SmallCompaniesRegimeForAccounts 2024-02-10 2024-09-30 15479120 bus:RegisteredOffice 2024-02-10 2024-09-30 15479120 bus:Director1 2024-02-10 2024-09-30 15479120 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-02-10 2024-09-30 15479120 bus:PrivateLimitedCompanyLtd 2024-02-10 2024-09-30 15479120 countries:EnglandWales 2024-02-10 2024-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 15479120

The Vet Group Ltd

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Period from 10 February 2024 to 30 September 2024

 

The Vet Group Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

The Vet Group Ltd

Company Information

Director

Mr RJ Cumming

Registered office

Market House
Cawdor Terrace
Newcastle Emlyn
SA38 9AS
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

The Vet Group Ltd

(Registration number: 15479120)
Balance Sheet as at 30 September 2024

Note

30 September
2024
£

Fixed assets

 

Investments

4

1,075,834

Current assets

 

Debtors

5

100

Cash at bank and in hand

 

219

 

319

Creditors: Amounts falling due within one year

6

(402,102)

Net current liabilities

 

(401,783)

Total assets less current liabilities

 

674,051

Creditors: Amounts falling due after more than one year

6

(703,110)

Net liabilities

 

(29,059)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(29,159)

Shareholders' deficit

 

(29,059)

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

The Vet Group Ltd

(Registration number: 15479120)
Balance Sheet as at 30 September 2024

Approved and authorised by the director on 22 February 2025
 

.........................................
Mr RJ Cumming
Director

 

The Vet Group Ltd

Notes to the Unaudited Financial Statements
for the Period from 10 February 2024 to 30 September 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:
Market House
Cawdor Terrace
Newcastle Emlyn
SA38 9AS
United Kingdom

These financial statements were authorised for issue by the director on 22 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Vet Group Ltd

Notes to the Unaudited Financial Statements
for the Period from 10 February 2024 to 30 September 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

The Vet Group Ltd

Notes to the Unaudited Financial Statements
for the Period from 10 February 2024 to 30 September 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investments

30 September
2024
£

Investments in subsidiaries

1,075,834

Subsidiaries

£

Cost or valuation

Additions

1,075,834

Provision

Carrying amount

At 30 September 2024

1,075,834

 

The Vet Group Ltd

Notes to the Unaudited Financial Statements
for the Period from 10 February 2024 to 30 September 2024

5

Debtors

Current

30 September
2024
£

Other debtors

100

 

100

 

The Vet Group Ltd

Notes to the Unaudited Financial Statements
for the Period from 10 February 2024 to 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

30 September
2024
£

Due within one year

 

Bank loans and overdrafts

8

25,766

Owed by/(from) group undertakings

374,776

Accruals and deferred income

 

1,560

 

402,102

Creditors: amounts falling due after more than one year

Note

30 September
2024
£

Due after one year

 

Loans and borrowings

8

703,110

7

Share capital

Allotted, called up and fully paid shares

30 September
2024

No.

£

Ordinary Shares of £1 each

100

100

   

8

Loans and borrowings

Non-current loans and borrowings

30 September
2024
£

Bank borrowings

636,480

Other borrowings

66,630

703,110

 

The Vet Group Ltd

Notes to the Unaudited Financial Statements
for the Period from 10 February 2024 to 30 September 2024

Current loans and borrowings

30 September
2024
£

Bank borrowings

25,766

9

Dividends

Interim dividends paid

30 September
2024
£

Interim dividend of £40.00 per each Ordinary Shares

4,000