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Company Registration No. 07821383 (England and Wales)
Two Counties Vets Limited Unaudited accounts for the year ended 31 March 2025
Two Counties Vets Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Two Counties Vets Limited Company Information for the year ended 31 March 2025
Directors
Luke Axe Joy Axe
Company Number
07821383 (England and Wales)
Registered Office
Two Counties Vets 24 Nostell Place Doncaster South Yorkshire DN4 7JA England
Accountants
Blue Cube Accountants Limited 7 High Street Windsor SL4 1LD
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Two Counties Vets Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
7,500
6,000
Current assets
Inventories
30,000
35,000
Debtors
5
27,230
76,366
Cash at bank and in hand
116,419
13,687
173,649
125,053
Creditors: amounts falling due within one year
6
(153,368)
(119,491)
Net current assets
20,281
5,562
Total assets less current liabilities
27,781
11,562
Creditors: amounts falling due after more than one year
7
-
(1,750)
Provisions for liabilities
Deferred tax
(1,875)
(817)
Net assets
25,906
8,995
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
25,904
8,993
Shareholders' funds
25,906
8,995
For the year ending 31 March 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by
Luke Axe Director Company Registration No. 07821383
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Two Counties Vets Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Two Counties Vets Limited is a private company, limited by shares, registered in England and Wales, registration number 07821383. The registered office is Two Counties Vets, 24 Nostell Place , Doncaster, South Yorkshire, DN4 7JA, England.
2
Accounting policies
Basis of preparation
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
10% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. The goodwill is being amortised evenly over 10 years.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 taxation
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.
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Two Counties Vets Limited Notes to the Accounts for the year ended 31 March 2025
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charge to the profit & loss account in the period to which they relate.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024
61,217
At 31 March 2025
61,217
Amortisation
At 1 April 2024
61,217
At 31 March 2025
61,217
Net book value
At 31 March 2025
-
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2024
54,473
12,887
67,360
At 31 March 2025
54,473
12,887
67,360
Depreciation
At 1 April 2024
48,473
12,887
61,360
Charge for the year
(1,500)
-
(1,500)
At 31 March 2025
46,973
12,887
59,860
Net book value
At 31 March 2025
7,500
-
7,500
At 31 March 2024
6,000
-
6,000
2025
2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
7,500
6,000
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Two Counties Vets Limited Notes to the Accounts for the year ended 31 March 2025
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
7,935
-
Other debtors
19,295
76,366
27,230
76,366
6
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
36,014
34,600
Obligations under finance leases and hire purchase contracts
1,750
2,100
Trade creditors
46,555
41,959
Taxes and social security
58,772
38,382
Other creditors
4,501
-
Accruals
5,776
2,450
153,368
119,491
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
-
1,750
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Transactions with related parties
Rent was paid on properties in which the directors own personally. The amount paid to the directors during the year was £30,000 (2024 - £23,927)
10
Post balance sheet events
Ownership of the company has transferred from Mr & Mrs Jones to Mr & Mrs Axe. The transfer of ownership took place on 4th April 2025.
11
Average number of employees
During the year the average number of employees was 19 (2024: 19).
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