Gibson & Jones Vets Ltd 13908814 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is that of a veterinary practice. Digita Accounts Production Advanced 6.30.9574.0 true true 13908814 2024-04-01 2025-03-31 13908814 2025-03-31 13908814 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 13908814 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-03-31 13908814 core:CurrentFinancialInstruments 2025-03-31 13908814 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 13908814 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 13908814 core:PlantMachinery 2025-03-31 13908814 bus:SmallEntities 2024-04-01 2025-03-31 13908814 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 13908814 bus:FilletedAccounts 2024-04-01 2025-03-31 13908814 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 13908814 bus:RegisteredOffice 2024-04-01 2025-03-31 13908814 bus:Director1 2024-04-01 2025-03-31 13908814 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 13908814 core:PlantMachinery 2024-04-01 2025-03-31 13908814 core:OtherRelatedParties 2024-04-01 2025-03-31 13908814 core:ParentEntities 2024-04-01 2025-03-31 13908814 countries:EnglandWales 2024-04-01 2025-03-31 13908814 2024-03-31 13908814 core:PlantMachinery 2024-03-31 13908814 2023-04-01 2024-03-31 13908814 2024-03-31 13908814 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 13908814 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 13908814 core:CurrentFinancialInstruments 2024-03-31 13908814 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13908814 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 13908814 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure

Filleted
Registration number: 13908814

Gibson & Jones Vets Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Gibson & Jones Vets Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Gibson & Jones Vets Ltd

Company Information

Director

Dr K S Jones

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Gibson & Jones Vets Ltd

(Registration number: 13908814)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

97,339

94,526

Current assets

 

Stocks

5

77,763

63,936

Debtors

6

231,990

148,002

Cash at bank and in hand

 

31,331

38,201

 

341,084

250,139

Creditors: Amounts falling due within one year

7

(318,462)

(264,265)

Net current assets/(liabilities)

 

22,622

(14,126)

Total assets less current liabilities

 

119,961

80,400

Creditors: Amounts falling due after more than one year

7

(792)

(10,294)

Net assets

 

119,169

70,106

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

119,069

70,006

Shareholders' funds

 

119,169

70,106

For the financial year ending 31 March 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 his 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 and 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 18 August 2025

.........................................
Dr K S Jones
Director

   
     
 

Gibson & Jones Vets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 18 August 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

Tax

The tax expense for the period comprises current 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.

 

Gibson & Jones Vets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

15% reducing balance

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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 subsequently measured at amortised cost using the effective interest method.

 

Gibson & Jones Vets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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.

Leases

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 27 (2024 - 23).

 

Gibson & Jones Vets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2024

118,269

118,269

Additions

19,990

19,990

At 31 March 2025

138,259

138,259

Depreciation

At 1 April 2024

23,743

23,743

Charge for the year

17,177

17,177

At 31 March 2025

40,920

40,920

Carrying amount

At 31 March 2025

97,339

97,339

At 31 March 2024

94,526

94,526

5

Stocks

2025
£

2024
£

Other inventories

77,763

63,936

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

44,471

37,510

Amounts owed by related parties

10

123,699

57,990

Prepayments

 

62,689

52,502

Other debtors

 

1,131

-

   

231,990

148,002

 

Gibson & Jones Vets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Bank loans and overdrafts

9

9,502

18,502

Trade creditors

 

107,252

111,547

Taxation and social security

 

81,631

65,675

Other related parties

10

970

1,691

Other creditors

 

103,747

66,850

Corporation tax liability

 

15,360

-

 

318,462

264,265

Due after one year

 

Loans and borrowings

9

792

10,294

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Hire purchase contracts

792

10,294

Current loans and borrowings

2025
£

2024
£

Hire purchase contracts

9,502

9,502

Other borrowings

-

9,000

9,502

18,502

 

Gibson & Jones Vets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Related party transactions

As at the balance sheet date, the director was owed £970 (2024: £1,692) from the company. The loan is interest free and repayable on demand.

Summary of transactions with parent

Gibson & Jones Vets Ltd is a wholly-owned subsidiary of Seren Group Limited.
As at the balance sheet date, the company was owed £123,338 (2024: £57,679) by Seren Group.

Summary of transactions with other related parties

Zeleo Ltd is a related party to Gibson & Jones Vets Ltd by virtue of common control.
As at the balance sheet date, the company was owed £361 (2024: £311) by Zeleo Ltd.