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REGISTERED NUMBER: SC434858 (Scotland)











Unaudited Financial Statements for the Year Ended 31st October 2024

for

Ark Vet Centre Limited

Ark Vet Centre Limited (Registered number: SC434858)






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6

Report of the Accountants 7

Ark Vet Centre Limited

Company Information
for the Year Ended 31st October 2024







DIRECTORS: G W Boyes
C S Cameron
Ms H A Halliday
I T Dick
C A H Rodger
J A Alexander





REGISTERED OFFICE: Farries, Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DG1 3SJ





REGISTERED NUMBER: SC434858 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Ark Vet Centre Limited (Registered number: SC434858)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 260,191 390,286
Tangible assets 5 417,135 423,935
677,326 814,221

CURRENT ASSETS
Stocks 479,849 452,449
Debtors 6 1,032,149 1,005,727
Cash at bank and in hand 328,597 625,919
1,840,595 2,084,095
CREDITORS
Amounts falling due within one year 7 1,721,499 1,749,534
NET CURRENT ASSETS 119,096 334,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

796,422

1,148,782

PROVISIONS FOR LIABILITIES - 21,829
NET ASSETS 796,422 1,126,953

CAPITAL AND RESERVES
Called up share capital 500 500
Share premium 724,002 724,002
Retained earnings 71,920 402,451
SHAREHOLDERS' FUNDS 796,422 1,126,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th July 2025 and were signed on its behalf by:





G W Boyes - Director


Ark Vet Centre Limited (Registered number: SC434858)

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

Ark Vet Centre Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from operating a veterinary practice, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill of £1,530,532, being the amount paid in connection with the acquisition of a business in 2012, was being amortised evenly over its estimated useful life of 20 years.In line with FRS102 Section 1A, the period of amortisation should be reduced to 10 years in total, leaving the remaining balance to be amortised over a further 10 years.

Goodwill of £235,000, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of 5 years.

Goodwill of £80,000, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Ark Vet Centre Limited (Registered number: SC434858)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company makes contributions into a recognised UK defined contribution pension scheme. Contributions payable to this scheme are charged to the income statement in the period to which they relate.

Financial instruments
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 the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

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.

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 transactions 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.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 47 ) .

Ark Vet Centre Limited (Registered number: SC434858)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2023
and 31st October 2024 1,845,532
AMORTISATION
At 1st November 2023 1,455,246
Charge for year 130,095
At 31st October 2024 1,585,341
NET BOOK VALUE
At 31st October 2024 260,191
At 31st October 2023 390,286

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st November 2023 903,002
Additions 84,964
Disposals (15,150 )
At 31st October 2024 972,816
DEPRECIATION
At 1st November 2023 479,067
Charge for year 85,374
Eliminated on disposal (8,760 )
At 31st October 2024 555,681
NET BOOK VALUE
At 31st October 2024 417,135
At 31st October 2023 423,935

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,030,989 1,005,727
Other debtors 1,160 -
1,032,149 1,005,727

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 437,835 392,574
Taxation and social security 230,417 211,664
Other creditors 1,053,247 1,145,296
1,721,499 1,749,534

Ark Vet Centre Limited (Registered number: SC434858)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024

8. RELATED PARTY DISCLOSURES

The company is wholly owned by The Ark Vet Centre Limited Employee Trust. Donations totalling £1,042,201 were made by the company to the trust during the year.


GW Boyes
Director of company

At 31st October 2024, the company operated a director's loan with G W Boyes. This sum is repayable on demand and interest is charged on the sum advanced.
.
Amount due to the related party at the balance sheet date £337,853


Ms H A Halliday
Director of company

At 31st October 2024, the company operated a director's loan with H A Halliday. This sum is repayable on demand and interest is charged on the sum advanced.

Amount due to the related party at the balance sheet date £199,216

Ark Vet Centre Limited

Report of the Accountants to the Directors of
Ark Vet Centre Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st October 2024 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ


9th July 2025