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Registration number: 5988187

Riverside Veterinary Care Ltd

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2024

 

Riverside Veterinary Care Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Riverside Veterinary Care Ltd

(Registration number: 5988187)
Abridged Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

497,166

450,244

Other financial assets

6

100,000

100,000

 

597,166

550,244

Current assets

 

Stocks

7

49,611

48,000

Debtors

219,273

245,229

Cash at bank and in hand

 

575,876

554,084

 

844,760

847,313

Creditors: Amounts falling due within one year

(813,822)

(651,860)

Net current assets

 

30,938

195,453

Total assets less current liabilities

 

628,104

745,697

Creditors: Amounts falling due after more than one year

(12,311)

-

Provisions for liabilities

(57,522)

(46,831)

Net assets

 

558,271

698,866

Capital and reserves

 

Called up share capital

1,000

1,000

Capital redemption reserve

9

9

Profit and loss account

557,262

697,857

Total equity

 

558,271

698,866

 

Riverside Veterinary Care Ltd

(Registration number: 5988187)
Abridged Balance Sheet as at 31 October 2024

For the financial year ending 31 October 2024 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 of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

Mrs B Fitzmaurice

Director

Miss H R Rippin

Director

 

Riverside Veterinary Care Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
60 Brecon Road
Abergavenny
Monmouthshire
NP7 7RB

These financial statements were authorised for issue by the Board on 22 July 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

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

The current 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 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 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.

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

Fixture & Fittings

15% Reducing Balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Riverside Veterinary Care Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 26).

 

Riverside Veterinary Care Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 November 2023

269,791

At 31 October 2024

269,791

Amortisation

At 1 November 2023

269,791

At 31 October 2024

269,791

Carrying amount

At 31 October 2024

-

5

Tangible assets

Total
£

Cost or valuation

At 1 November 2023

618,853

Additions

67,480

At 31 October 2024

686,333

Depreciation

At 1 November 2023

168,609

Charge for the year

20,558

At 31 October 2024

189,167

Carrying amount

At 31 October 2024

497,166

At 31 October 2023

450,244

Included within the net book value of land and buildings above is £376,606 (2023 - £343,709) in respect of freehold land and buildings.
 

 

Riverside Veterinary Care Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024

6

Other financial assets (current and non-current)

Total
£

Non-current financial assets

Cost or valuation

At 1 November 2023

100,000

At 31 October 2024

100,000

Carrying amount

At 31 October 2024

100,000

7

Stocks

2024
£

2023
£

Stock

49,611

48,000

8

Related party transactions

Advances to directors


Mrs B Fitzmaurice

During the period Mrs B Fitzmaurice went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £163,968 (2023 - £121,337). At the year end the amount outstanding from Mrs B Fitzmaurice was £100,000 (2023 - £120,265). Interest has been charged at the commercial rate.


Miss H R Rippin

During the period Miss H R Rippin went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £15,961 (2023 - £Nil). At the year end the amount outstanding from Miss H R Rippin was £Nil (2023 - £-). Interest has been charged at the commercial rate.