The Berkshire Vet Limited 14042571 false 2024-05-01 2025-04-30 2025-04-30 The principal activity of the company is the provision of veterinary services. The company commenced trading on 11 March 2024. Digita Accounts Production Advanced 6.30.9574.0 true true 14042571 2024-05-01 2025-04-30 14042571 2025-04-30 14042571 bus:OrdinaryShareClass1 2025-04-30 14042571 bus:OrdinaryShareClass2 2025-04-30 14042571 bus:OrdinaryShareClass3 2025-04-30 14042571 bus:OrdinaryShareClass4 2025-04-30 14042571 bus:OrdinaryShareClass5 2025-04-30 14042571 core:AcceleratedTaxDepreciationDeferredTax 2025-04-30 14042571 core:ShareCapital 2025-04-30 14042571 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-04-30 14042571 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-04-30 14042571 core:CurrentFinancialInstruments 2025-04-30 14042571 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 14042571 core:Non-currentFinancialInstruments 2025-04-30 14042571 core:Non-currentFinancialInstruments core:AfterOneYear 2025-04-30 14042571 core:BetweenTwoFiveYears 2025-04-30 14042571 core:MoreThanFiveYears 2025-04-30 14042571 core:WithinOneYear 2025-04-30 14042571 core:FurnitureFittingsToolsEquipment 2025-04-30 14042571 core:LandBuildings 2025-04-30 14042571 bus:SmallEntities 2024-05-01 2025-04-30 14042571 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 14042571 bus:FilletedAccounts 2024-05-01 2025-04-30 14042571 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 14042571 bus:RegisteredOffice 2024-05-01 2025-04-30 14042571 bus:Director1 2024-05-01 2025-04-30 14042571 bus:Director2 2024-05-01 2025-04-30 14042571 bus:Director3 2024-05-01 2025-04-30 14042571 bus:Director4 2024-05-01 2025-04-30 14042571 bus:Director5 2024-05-01 2025-04-30 14042571 bus:OrdinaryShareClass1 2024-05-01 2025-04-30 14042571 bus:OrdinaryShareClass2 2024-05-01 2025-04-30 14042571 bus:OrdinaryShareClass3 2024-05-01 2025-04-30 14042571 bus:OrdinaryShareClass4 2024-05-01 2025-04-30 14042571 bus:OrdinaryShareClass5 2024-05-01 2025-04-30 14042571 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 14042571 core:ComputerEquipment 2024-05-01 2025-04-30 14042571 core:FurnitureFittings 2024-05-01 2025-04-30 14042571 core:FurnitureFittingsToolsEquipment 2024-05-01 2025-04-30 14042571 core:LandBuildings 2024-05-01 2025-04-30 14042571 core:PlantMachinery 2024-05-01 2025-04-30 14042571 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-05-01 2025-04-30 14042571 countries:EnglandWales 2024-05-01 2025-04-30 14042571 2024-04-30 14042571 core:FurnitureFittingsToolsEquipment 2024-04-30 14042571 core:LandBuildings 2024-04-30 14042571 2023-05-01 2024-04-30 14042571 2024-04-30 14042571 bus:OrdinaryShareClass1 2024-04-30 14042571 bus:OrdinaryShareClass2 2024-04-30 14042571 bus:OrdinaryShareClass3 2024-04-30 14042571 bus:OrdinaryShareClass4 2024-04-30 14042571 bus:OrdinaryShareClass5 2024-04-30 14042571 core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 14042571 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 14042571 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 14042571 core:CurrentFinancialInstruments 2024-04-30 14042571 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14042571 core:Non-currentFinancialInstruments 2024-04-30 14042571 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 14042571 core:BetweenTwoFiveYears 2024-04-30 14042571 core:MoreThanFiveYears 2024-04-30 14042571 core:WithinOneYear 2024-04-30 14042571 core:FurnitureFittingsToolsEquipment 2024-04-30 14042571 core:LandBuildings 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14042571

Prepared for the registrar

The Berkshire Vet Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2025

 

The Berkshire Vet Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Berkshire Vet Limited

Company Information

Directors

E R Downer

A A Higgins

V A James

N Murdock

A P Radford

Registered office

The Berkshire Vet
15 Main Street
Greenham Business Park
Thatcham
England
RG19 6AA

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

The Berkshire Vet Limited

(Registration number: 14042571)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

321,178

349,667

Current assets

 

Stocks

23,964

23,513

Debtors

5

34,480

20,786

Cash at bank and in hand

 

178,410

249,942

 

236,854

294,241

Creditors: Amounts falling due within one year

6

(314,670)

(438,750)

Net current liabilities

 

(77,816)

(144,509)

Total assets less current liabilities

 

243,362

205,158

Creditors: Amounts falling due after more than one year

6

(152,114)

(223,638)

Deferred tax liabilities

7

(49,017)

2,335

Net assets/(liabilities)

 

42,231

(16,145)

Capital and reserves

 

Called up share capital

9

60

60

Retained earnings

42,171

(16,205)

Shareholders' funds/(deficit)

 

42,231

(16,145)

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

The Berkshire Vet Limited

(Registration number: 14042571)
Balance Sheet as at 30 April 2025

Approved and authorised by the Board on 8 August 2025 and signed on its behalf by:
 


V A James
Director


A P Radford
Director

 

The Berkshire Vet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
The Berkshire Vet
15 Main Street
Greenham Business Park
Thatcham
England
RG19 6AA

 

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 Berkshire Vet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tax

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

The current income 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 income 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 income 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.

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

Straight line over 15 years

Plant and machinery

25% reducing balance

Fixtures and fittings

10% reducing balance

Computer equipment

Straight line over 3 years

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

The Berkshire Vet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

The Berkshire Vet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

3

Staff numbers

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

 

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 May 2024

260,649

95,838

356,487

Additions

-

13,073

13,073

At 30 April 2025

260,649

108,911

369,560

Depreciation

At 1 May 2024

3,065

3,755

6,820

Charge for the year

18,399

23,163

41,562

At 30 April 2025

21,464

26,918

48,382

Carrying amount

At 30 April 2025

239,185

81,993

321,178

At 30 April 2024

257,584

92,083

349,667

Included within the net book value of land and buildings above is £239,185 (2024 - £257,584) in respect of short leasehold land and buildings.
 

 

5

Debtors

2025
£

2024
£

Trade debtors

2,811

6,409

Prepayments

29,414

1,474

Other debtors

2,255

12,903

34,480

20,786

 

The Berkshire Vet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

6

Creditors

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

239,768

276,018

Trade creditors

 

34,051

23,823

Taxation and social security

 

27,090

-

Accruals and deferred income

 

6,449

21,874

Other creditors

 

7,312

117,035

 

314,670

438,750

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

152,114

223,638

 

7

Deferred tax

Deferred tax assets and liabilities

2025

Liability
£

Difference between accumulated depreciation and capital allowances

49,017

49,017

2024

Asset
£

Difference between accumulated depreciation and capital allowances

2,335

2,335

 

The Berkshire Vet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank borrowings

27,886

12,209

HP and finance lease liabilities

19,188

14,364

Other borrowings

192,694

249,445

239,768

276,018

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

152,114

151,821

HP and finance lease liabilities

-

71,817

152,114

223,638

 

9

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary A shares of £1 each

12

12

12

12

Ordinary B shares of £1 each

12

12

12

12

Ordinary C shares of £1 each

12

12

12

12

Ordinary D shares of £1 each

12

12

12

12

Ordinary E shares of £1 each

12

12

12

12

 

60

60

60

60

The different classes of shares referred to above carry separate rights to dividends but, in all other significant respects, rank pari passu.

 

The Berkshire Vet Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

10

Financial commitments

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

120,468

121,623

Later than one year and not later than five years

481,326

481,404

Later than five years

1,080,000

1,170,390

1,681,794

1,773,417

The amount of non-cancellable operating lease payments recognised as an expense during the year was £94,534 (2024 - £16,412).

 

11

Related party transactions

Summary of transactions with key management

Key management personnel are considered to be the directors of the company.

As at 30 April 2025, the company owed the directors £192,694 (2024: £249,445). These amounts are included within other borrowings. There are no fixed repayment terms and no interest is charged.