Registered number
08784896
Seaham Vets Ltd.
Filleted Accounts
30 April 2025
Seaham Vets Ltd.
Registered number: 08784896
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 278,430 157,180
Current assets
Stocks 38,346 42,859
Debtors 4 4,655 5,019
Cash at bank and in hand 79,154 142,452
122,155 190,330
Creditors: amounts falling due within one year 5 (138,892) (106,964)
Net current assets/(liabilities) (16,737) 83,366
Total assets less current liabilities 261,693 240,546
Creditors: amounts falling due after more than one year 6 (144,995) (126,121)
Provisions for liabilities (23,729) (14,733)
Net assets 92,969 99,692
Capital and reserves
Called up share capital 120 120
Profit and loss account 92,849 99,572
Shareholders' funds 92,969 99,692
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Susan Turner
Director
Approved by the board on 18 July 2025
Seaham Vets Ltd.
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 1% per annum - straight line
Integral features 10% per annum, diminishing balance
Plant and equipment 20% per annum, diminishing balance
Fixtures and fittings 15% per annum, diminishing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 19 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2024 105,106 168,148 273,254
Additions 83,947 59,881 143,828
At 30 April 2025 189,053 228,029 417,082
Depreciation
At 1 May 2024 9,543 106,531 116,074
Charge for the year 1,051 21,527 22,578
At 30 April 2025 10,594 128,058 138,652
Net book value
At 30 April 2025 178,459 99,971 278,430
At 30 April 2024 95,563 61,617 157,180
4 Debtors 2025 2024
£ £
Trade debtors 3,605 4,685
Other debtors 1,050 334
4,655 5,019
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 58,771 37,442
Taxation and social security costs 66,360 61,061
Other creditors 13,761 8,461
138,892 106,964
6 Creditors: amounts falling due after one year 2025 2024
£ £
Other creditors 144,995 126,121
7 Other information
Seaham Vets Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
43 Gregson Terrace
Seaham
Co. Durham
SR7 0HS
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