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Registration number: 11516258

Cavan Vets Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Cavan Vets Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

Cavan Vets Limited

(Registration number: 11516258)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

700,000

750,000

Tangible assets

5

528,019

422,580

 

1,228,019

1,172,580

Current assets

 

Stocks

16,530

16,320

Debtors

266,619

99,179

Cash at bank and in hand

 

51,124

53,501

 

334,273

169,000

Creditors: Amounts falling due within one year

6

(651,008)

(661,933)

Net current liabilities

 

(316,735)

(492,933)

Total assets less current liabilities

 

911,284

679,647

Creditors: Amounts falling due after more than one year

7

(131,283)

(51,329)

Provisions for liabilities

(31,912)

(43,300)

Net assets

 

748,089

585,018

Capital and reserves

 

Called up share capital

321,729

321,729

Profit and loss account

426,360

263,289

Total equity

 

748,089

585,018

 

Cavan Vets Limited

(Registration number: 11516258)
Abridged Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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.

Approved and authorised by the Board on 17 June 2025 and signed on its behalf by:
 

Mr S M Lloyd

Director

 

Cavan Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 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:
48-50 High Road
Willenhall
West Midlands
WV12 4JQ

These financial statements were authorised for issue by the Board on 17 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.

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.

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:

 

Cavan Vets Limited

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

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Land and buildings

10% straight line

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 47 (2023 - 47).

 

Cavan Vets Limited

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

4

Intangible assets

Total
£

Cost or valuation

At 1 October 2023

1,000,000

At 30 September 2024

1,000,000

Amortisation

At 1 October 2023

250,000

Amortisation charge

50,000

At 30 September 2024

300,000

Carrying amount

At 30 September 2024

700,000

At 30 September 2023

750,000

5

Tangible assets

Total
£

Cost or valuation

At 1 October 2023

652,859

Additions

189,775

At 30 September 2024

842,634

Depreciation

At 1 October 2023

230,279

Charge for the year

84,336

At 30 September 2024

314,615

Carrying amount

At 30 September 2024

528,019

At 30 September 2023

422,580

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 £62,427 (2023 - £68,527).

 

Cavan Vets Limited

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

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 £131,292 (2023 - £51,328).

 

Cavan Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 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 £116,581 (2023 - £139,562).

9

Related party transactions

Advances to directors


Mr S M Lloyd

During the period Mr S M Lloyd went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £103,499 (2023 - £Nil). At the year end the amount outstanding from Mr S M Lloyd was £103,499 (2023 - £Nil). Interest has been charged at the commercial rate.