Kent School of Veterinary Nursing 11134063 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is the provision of technical and vocational secondary education Digita Accounts Production Advanced 6.30.9574.0 true true 11134063 2024-02-01 2025-01-31 11134063 2025-01-31 11134063 core:ImpairmentLossesDeferredTax 2025-01-31 11134063 core:OtherDeferredTax 2025-01-31 11134063 core:CurrentFinancialInstruments 2025-01-31 11134063 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 11134063 core:BetweenTwoFiveYears 2025-01-31 11134063 core:WithinOneYear 2025-01-31 11134063 core:ConstructionInProgressAssetsUnderConstruction 2025-01-31 11134063 core:FurnitureFittingsToolsEquipment 2025-01-31 11134063 core:LandBuildings 2025-01-31 11134063 bus:SmallEntities 2024-02-01 2025-01-31 11134063 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 11134063 bus:FilletedAccounts 2024-02-01 2025-01-31 11134063 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 11134063 bus:RegisteredOffice 2024-02-01 2025-01-31 11134063 bus:Director2 2024-02-01 2025-01-31 11134063 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 11134063 core:ComputerEquipment 2024-02-01 2025-01-31 11134063 core:ConstructionInProgressAssetsUnderConstruction 2024-02-01 2025-01-31 11134063 core:FurnitureFittings 2024-02-01 2025-01-31 11134063 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 11134063 core:LandBuildings 2024-02-01 2025-01-31 11134063 core:KeyManagementPersonnel 2024-02-01 2025-01-31 11134063 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-02-01 2025-01-31 11134063 countries:EnglandWales 2024-02-01 2025-01-31 11134063 2024-01-31 11134063 core:ConstructionInProgressAssetsUnderConstruction 2024-01-31 11134063 core:FurnitureFittingsToolsEquipment 2024-01-31 11134063 core:LandBuildings 2024-01-31 11134063 2023-02-01 2024-01-31 11134063 2024-01-31 11134063 core:OtherDeferredTax 2024-01-31 11134063 core:CurrentFinancialInstruments 2024-01-31 11134063 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 11134063 core:BetweenTwoFiveYears 2024-01-31 11134063 core:WithinOneYear 2024-01-31 11134063 core:ConstructionInProgressAssetsUnderConstruction 2024-01-31 11134063 core:FurnitureFittingsToolsEquipment 2024-01-31 11134063 core:LandBuildings 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 11134063

Prepared for the registrar

Kent School of Veterinary Nursing

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Kent School of Veterinary Nursing

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Kent School of Veterinary Nursing

Company Information

Director

Mrs Natalie Brudenell

Registered office

Ground Floor Unit 13
Jubilee Way
Faversham
Kent
ME13 8GD

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Kent School of Veterinary Nursing

(Registration number: 11134063)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

167,163

146,093

Current assets

 

Debtors

5

5,134

3,830

Cash at bank and in hand

 

62,760

176,864

 

67,894

180,694

Creditors: Amounts falling due within one year

6

(124,990)

(63,463)

Net current (liabilities)/assets

 

(57,096)

117,231

Total assets less current liabilities

 

110,067

263,324

Deferred tax liabilities

7

16,091

(273)

Net assets

 

126,158

263,051

Capital and reserves

 

Called up share capital

2

2

Retained earnings

126,156

263,049

Shareholders' funds

 

126,158

263,051

For the financial year ending 31 January 2025 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 year in question in accordance with section 476; and

The director acknowledges her 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 June 2025
 


Mrs Natalie Brudenell
Director

 

Kent School of Veterinary Nursing

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

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:
Ground Floor Unit 13
Jubilee Way
Faversham
Kent
ME13 8GD
England

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

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 and after eliminating sales within the company.

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.

 

Kent School of Veterinary Nursing

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

The tax expense for the period comprises and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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 income 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 income 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.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Fixtures and fitting

20% of cost

Computer equipment

20% of cost

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Kent School of Veterinary Nursing

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Borrowings

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Kent School of Veterinary Nursing

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

 

Kent School of Veterinary Nursing

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

4

Tangible assets

Land and buildings
£

Fixtures and fittings
 £

Computer equipment
 £

Total
£

Cost

At 1 February 2024

145,000

5,460

8,861

159,321

Additions

-

896

-

896

Long leasehold additions at cost

20,919

-

-

20,919

At 31 January 2025

165,919

6,356

8,861

181,136

Depreciation

At 1 February 2024

-

4,950

8,277

13,227

Charge for the year

-

600

146

746

At 31 January 2025

-

5,550

8,423

13,973

Carrying amount

At 31 January 2025

165,919

806

438

167,163

At 31 January 2024

145,000

510

583

146,093

Included within the net book value of land and buildings above is £165,919 (2024 - £145,000) in respect of long leasehold land and buildings.
 

 

5

Debtors

2025
£

2024
£

Trade debtors

5,134

3,530

Other debtors

-

300

5,134

3,830

 

Kent School of Veterinary Nursing

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

6

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

45,324

13,085

Trade creditors

 

1,115

-

Taxation and social security

 

73,301

45,095

Accruals and deferred income

 

5,010

5,283

Other creditors

 

240

-

 

124,990

63,463

 

7

Deferred tax

Deferred tax assets and liabilities

2025

Asset
£

Losses and other deductions

16,402

Fixed asset timing differences

(311)

16,091

2024

Liability
£

Fixed asset timing differences

273

273

 

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

45,324

13,085

 

9

Financial commitments, guarantees and contingencies

Operating leases

The total of future minimum lease payments is as follows:

2025
 £

2024
 £

Not later than one year

13,762

12,345

Later than one year and not later than five years

57,400

71,750

71,162

84,095

The amount of non-cancellable operating lease payments recognised as an expense during the year was £14,337 (2024 - £12,345).

 

Kent School of Veterinary Nursing

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

 

10

Related party transactions

Key management personnel

Key management personnel are the directors of the company.

Summary of transactions with key management

As at the balance sheet date, the company owed the directors £45,324 (2024: £13,085). This amount is included in other borrowings