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Registration number: 10985724

Debenham VP Limited

trading as Debenham Veterinary Practice

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Debenham VP Limited

trading as Debenham Veterinary Practice

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Debenham VP Limited

trading as Debenham Veterinary Practice

(Registration number: 10985724)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,660

8,880

Tangible assets

5

434,717

257,332

Other financial assets

6

1

1

 

441,378

266,213

Current assets

 

Stocks

7

61,262

46,553

Debtors

774,121

600,246

Cash at bank and in hand

 

787,592

799,598

 

1,622,975

1,446,397

Creditors: Amounts falling due within one year

8

(582,088)

(610,979)

Net current assets

 

1,040,887

835,418

Total assets less current liabilities

 

1,482,265

1,101,631

Creditors: Amounts falling due after more than one year

9

(106,743)

(56,241)

Provisions for liabilities

(73,715)

(49,477)

Net assets

 

1,301,807

995,913

Capital and reserves

 

Called up share capital

180

180

Profit and loss account

1,301,627

995,733

Total equity

 

1,301,807

995,913

 

Debenham VP Limited

trading as Debenham Veterinary Practice

(Registration number: 10985724)
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 27 June 2025 and signed on its behalf by:
 

Mrs J Martin

Director

Mr P Wilson

Director

 

Debenham VP Limited

trading as Debenham Veterinary Practice

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:
1 Cherry Tree Lane
Debenham
Suffolk
IP14 6QT

These financial statements were authorised for issue by the Board on 27 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:

Asset class

Depreciation method and rate

Plant & machinery

25% reducing balance

Office equipment

25% reducing balance

Freehold property

2% straight line

Motor vehicles

25% reducing balance

 

Debenham VP Limited

trading as Debenham Veterinary Practice

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

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

10% straight line

Investments

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 54 (2023 - 49).

 

Debenham VP Limited

trading as Debenham Veterinary Practice

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

22,200

At 30 September 2024

22,200

Amortisation

At 1 October 2023

13,320

Amortisation charge

2,220

At 30 September 2024

15,540

Carrying amount

At 30 September 2024

6,660

At 30 September 2023

8,880

5

Tangible assets

Total
£

Cost or valuation

At 1 October 2023

589,323

Additions

266,545

At 30 September 2024

855,868

Depreciation

At 1 October 2023

331,993

Charge for the year

89,158

At 30 September 2024

421,151

Carrying amount

At 30 September 2024

434,717

At 30 September 2023

257,332

 

Debenham VP Limited

trading as Debenham Veterinary Practice

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

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2023

1

1

At 30 September 2024

1

1

Carrying amount

At 30 September 2024

1

1

7

Stocks

2024
£

2023
£

Stock

61,262

46,553

8

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 £53,930 (2023 - £73,672).

9

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 £106,743 (2023 - £56,243).

10

Related party transactions

Advances to directors


Mrs J Martin

During the period Mrs J Martin went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £5,345 (2023 - £Nil). At the year end the amount outstanding from Mrs J Martin was £Nil (2023 - £Nil). Interest has been charged at the commercial rate.


Mr P Wilson

During the period Mr P Wilson went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £5,345 (2023 - £Nil). At the year end the amount outstanding from Mr P Wilson was £Nil (2023 - £Nil). Interest has been charged at the commercial rate.