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Registered number: 07129886
Happy Pets Veterinary Practice Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Davey Grover Ltd
Chartered Accountants
4 Fenice Court
Phoenix Business Park
St. Neots
Cambridgeshire
PE19 8EP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 07129886
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 110,677 15,336
110,677 15,336
CURRENT ASSETS
Stocks 5 14,201 16,938
Debtors 6 11,474 11,066
Cash at bank and in hand 5,083 5,107
30,758 33,111
Creditors: Amounts Falling Due Within One Year 7 (336,540 ) (125,667 )
NET CURRENT ASSETS (LIABILITIES) (305,782 ) (92,556 )
TOTAL ASSETS LESS CURRENT LIABILITIES (195,105 ) (77,220 )
NET LIABILITIES (195,105 ) (77,220 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement (195,205 ) (77,320 )
SHAREHOLDERS' FUNDS (195,105) (77,220)
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Page 2
For the 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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr J C Hewitt
Director
Mr E Robertson
Director
24 June 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Happy Pets Veterinary Practice Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07129886 . The registered office is Cambrian House, 52 East Street, St. Neots, Cambridgeshire, PE19 1JU.
The presentation currency of the financial statements is in Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The accounts have been prepared on the going concern basis on the assumption that the support of the company's parent company, Teleos Systems Limited, will continue.  On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.  The financial statements do not include any adjustments that would result from a withdrawal of any borrowing facility.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance
Fixtures & Fittings 20% on reducing balance
Computer Equipment 33% on cost
        Improvements on property                                  In line with remaining lease
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.9. Consolidation
The company and its subsidiaries comprise a small group.  The company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group accounts.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 7)
8 7
4. Tangible Assets
Land & Property
Improvements Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2024 - 45,321 3,828 3,664 52,813
Additions 39,692 4,228 78,690 - 122,610
As at 31 January 2025 39,692 49,549 82,518 3,664 175,423
Depreciation
As at 1 February 2024 - 30,628 3,189 3,660 37,477
Provided during the period 7,939 3,460 15,870 - 27,269
As at 31 January 2025 7,939 34,088 19,059 3,660 64,746
Net Book Value
As at 31 January 2025 31,753 15,461 63,459 4 110,677
As at 1 February 2024 - 14,693 639 4 15,336
5. Stocks
2025 2024
£ £
Materials 14,201 16,938
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 9,218 8,500
Prepayments and accrued income 1,910 2,191
Other debtors 346 375
11,474 11,066
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 10,619 11,668
Other taxes and social security 6,428 5,005
VAT 7,692 6,672
Accruals and deferred income 3,437 3,182
Amounts owed to related parties 308,364 99,140
336,540 125,667
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 20,040 20,040
Later than one year and not later than five years 80,160 80,160
Later than five years - 20,040
100,200 120,240
The rent is reviewed every two years. 
10. Related Party Transactions
Teleos Systems Ltd
Parent company
At the year end, the company owed Teleos Systems Limited, £308,364 (2024 - £99,140) which is shown within note 7 of the accounts and is repayable on demand.
11. Ultimate Controlling Party
Mr J Hewitt and Mr E Robertson have ultimate control by way of their shareholding in Teleos Systems Limited .
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