Gibbs Marsh Equine Veterinary Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08448613 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Gibbs Marsh Equine Veterinary Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Miss A J O'Gorman

SECRETARY:

Mr T Weeks

REGISTERED OFFICE:

Gibbs Marsh Farm

Stalbridge

Dorset

DT10 2RU

REGISTERED NUMBER:

08448613 (England and Wales)

ACCOUNTANTS:

Duncan King FCA

2 MacNeice Drive

Barton Park

Marlborough

Wiltshire

SN8 1TR

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gibbs Marsh Equine Veterinary Limited for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Gibbs Marsh Equine Veterinary Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gibbs Marsh Equine Veterinary Limited and state those matters that we have agreed to state to the director of Gibbs Marsh Equine Veterinary Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gibbs Marsh Equine Veterinary Limited and its director for our work or for this report.

It is your duty to ensure that Gibbs Marsh Equine Veterinary Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gibbs Marsh Equine Veterinary Limited. You consider that Gibbs Marsh Equine Veterinary Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gibbs Marsh Equine Veterinary Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan King FCA

2 MacNeice Drive

Barton Park

Marlborough

Wiltshire

SN8 1TR

2 September 2025

FIXED ASSETS

Tangible assets

4

234,522

222,486

CURRENT ASSETS

Stocks

42,063

45,149

Debtors

5

474,070

328,703

Cash at bank and in hand

71,699

171,381

587,832

545,233

CREDITORS

Amounts falling due within one year

6

172,818

162,595

NET CURRENT ASSETS

415,014

382,638

TOTAL ASSETS LESS CURRENT
LIABILITIES

649,536

605,124

CREDITORS

Amounts falling due after more than one
year

7

(7,676

)

(34,727

)

PROVISIONS FOR LIABILITIES

(51,939

)

(47,822

)

NET ASSETS

589,921

522,575

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

589,821

522,475

SHAREHOLDERS' FUNDS

589,921

522,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 7 August 2025 and were signed by:

Miss A J O'Gorman - Director

1.	STATUTORY INFORMATION

Gibbs Marsh Equine Veterinary Limited is a private company, limited by shares , registered in England and Wales. 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 represents the net invoiced sales of equine veterinary services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2024

44,331

341,391

385,722

Additions

-

62,107

Disposals

-

(10,297

)

(10,297

)

At 31 March 2025

44,331

393,201

437,532

DEPRECIATION

At 1 April 2024

13,133

150,103

163,236

Charge for year

4,433

39,105

43,538

Eliminated on disposal

-

(3,764

)

(3,764

)

At 31 March 2025

17,566

185,444

203,010

NET BOOK VALUE

At 31 March 2025

26,765

207,757

234,522

At 31 March 2024

31,198

191,288

222,486

The net book value of fixed assets at 31 March 2025 includes an amount of £56779 which represents equipment held under finance agreements, the obligations of which are secured by the assets to which they relate.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

82,585

95,717

Other debtors

391,485

232,986

474,070

328,703

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Hire purchase contracts

27,052

Trade creditors

60,294

32,437

Taxation and social security

73,108

87,214

Other creditors

12,364

15,892

172,818

162,595

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.3.25

31.3.24

£

Hire purchase contracts

7,676

34,727

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

Miss A J O'Gorman

Balance outstanding at start of year

191,785

217,930

Amounts advanced

230,624

91,855

Amounts repaid

(92,000

)

(118,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

330,409

191,785

Advances to the Director are interest bearing and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss A J O'Gorman.