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Registration number: 12754542

Prepared for the registrar

The Peacocks Veterinary Clinic Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2025

 

The Peacocks Veterinary Clinic Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

The Peacocks Veterinary Clinic Limited

Company Information

Director

I Kestemont

Registered office

Unit 2 Martingate
Corsham
England
SN13 0HL

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

The Peacocks Veterinary Clinic Limited

(Registration number: 12754542)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

54,587

52,067

Current assets

 

Stocks

14,772

7,502

Debtors

5

117,529

56,305

Cash at bank and in hand

 

3,388

29,293

 

135,689

93,100

Creditors: Amounts falling due within one year

6

(95,209)

(61,780)

Net current assets

 

40,480

31,320

Total assets less current liabilities

 

95,067

83,387

Creditors: Amounts falling due after more than one year

6

(107,174)

(136,135)

Net liabilities

 

(12,107)

(52,748)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(12,108)

(52,749)

Shareholders' deficit

 

(12,107)

(52,748)

For the financial year ending 28 February 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 July 2025
 


I Kestemont
Director

 

The Peacocks Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
Unit 2 Martingate
Corsham
England
SN13 0HL

 

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.

 

The Peacocks Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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

Leasehold additions

10 years straight line

Plant and machinery

25% of written down value

Fixtures and fittings

10% of written down value

Computer equipment

33.33% of cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

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.

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.

 

The Peacocks Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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.

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.

 

3

Staff numbers

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

 

The Peacocks Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

 

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 March 2024

26,039

80,328

106,367

Additions

-

13,786

13,786

At 28 February 2025

26,039

94,114

120,153

Depreciation

At 1 March 2024

7,812

46,488

54,300

Charge for the year

2,604

8,662

11,266

At 28 February 2025

10,416

55,150

65,566

Carrying amount

At 28 February 2025

15,623

38,964

54,587

At 29 February 2024

18,227

33,840

52,067

 

5

Debtors

2025
£

2024
£

Trade debtors

6,308

11,371

Receivables from related parties

12,107

-

Prepayments

6,383

5,057

Other debtors

92,731

39,877

117,529

56,305

 

6

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

22,989

12,151

Trade creditors

 

27,241

20,488

Taxation and social security

 

29,758

24,040

Accruals and deferred income

 

14,682

4,722

Other creditors

 

539

379

 

95,209

61,780

 

The Peacocks Veterinary Clinic Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

 

7

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

22,989

12,151

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

107,174

136,135

 

8

Related party transactions

Key management personnel

Key management personnel is considered to be the director of the company.

Summary of transactions with key management

At the balance sheet date, the director owed the company £68,390 (2023: £29,527). There are no fixed repayment terms, interest is charged on the overdrawn balance at HMRC's official rate of interest. This amount is included within other debtors.
 

Transactions with the director

2025

At 1 March 2024
£

Advances to director
£

Repayments by director
£

At 28 February 2025
£

I Kestemont

Amounts due to / (from) director

(29,527)

(39,175)

312

(68,390)

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

I Kestemont

Amounts due to / (from) director

(1,364)

(28,475)

312

(29,527)