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Registered number: 14409255
Animal Care Services Midlands Limited
Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14409255
31 October 2024 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 231,939 124,495
231,939 124,495
CURRENT ASSETS
Stocks 5 5,075 3,003
Debtors 6 2,122 6,048
Cash at bank and in hand 701,365 250,578
708,562 259,629
Creditors: Amounts Falling Due Within One Year 7 (452,134 ) (282,978 )
NET CURRENT ASSETS (LIABILITIES) 256,428 (23,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES 488,367 101,146
PROVISIONS FOR LIABILITIES
Deferred Taxation (57,985 ) (23,654 )
NET ASSETS 430,382 77,492
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 430,282 77,392
SHAREHOLDERS' FUNDS 430,382 77,492
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For the 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 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 Profit and Loss Account.
On behalf of the board
Mrs L M Ellis
Director
9 April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Animal Care Services Midlands Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14409255 . The registered office is 550 Valley Road, Nottingham, NG5 1JJ.
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. 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.
2.3. 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% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% straight line
2.4. 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.
2.5. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 32)
34 32
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2023 1,305 60,761 75,423 14,313 151,802
Additions 16,048 76,298 44,071 13,152 149,569
Disposals - (385 ) - - (385 )
As at 31 October 2024 17,353 136,674 119,494 27,465 300,986
Depreciation
As at 1 November 2023 261 12,153 11,314 3,579 27,307
Provided during the period 2,533 20,279 13,537 5,468 41,817
Disposals - (77 ) - - (77 )
As at 31 October 2024 2,794 32,355 24,851 9,047 69,047
Net Book Value
As at 31 October 2024 14,559 104,319 94,643 18,418 231,939
As at 1 November 2023 1,044 48,608 64,109 10,734 124,495
5. Stocks
31 October 2024 31 October 2023
£ £
Stock 5,075 3,003
6. Debtors
31 October 2024 31 October 2023
£ £
Due within one year
Other debtors 2,122 6,048
7. Creditors: Amounts Falling Due Within One Year
31 October 2024 31 October 2023
£ £
Trade creditors 218,812 154,005
Corporation tax 111,319 8,620
VAT 107,448 45,561
Other creditors 1,700 1,048
Accruals and deferred income 12,226 9,947
Directors' loan accounts 629 63,797
452,134 282,978
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8. Share Capital
31 October 2024 31 October 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
At the balance sheet date, the company owed the directors £629 (2023: £63,797). The amount is unsecured, interest-free, with no fixed repayment date.
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