WL Vets Limited

trading as Wendy Lane Veterinary Surgery

(Registration number: 10146556)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	21,220	42,440
Tangible assets	5	313,678	170,388
		334,898	212,828
Current assets
Stocks	6	71,457	54,034
Debtors	7	18,698	19,534
Cash at bank and in hand		190,693	267,985
		280,848	341,553
Creditors: Amounts falling due within one year	8	(180,970)	(169,758)
Net current assets		99,878	171,795
Total assets less current liabilities		434,776	384,623
Creditors: Amounts falling due after more than one year	8	-	(1,326)
Net assets		434,776	383,297
Capital and reserves
Called up share capital		100	100
Retained earnings		434,676	383,197
Shareholders' funds		434,776	383,297

WL Vets Limited

trading as Wendy Lane Veterinary Surgery

(Registration number: 10146556)
Balance Sheet as at 30 April 2025

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.

Approved and authorised by the Board on 2 September 2025 and signed on its behalf by:
 

......................................... Mr P Bareham Director

......................................... Mrs L E Bareham Director

WL Vets Limited

trading as Wendy Lane Veterinary Surgery

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:
264 Bury Road
Rochdale
Lancs
OL11 4EE

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

WL Vets Limited

trading as Wendy Lane Veterinary Surgery

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

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
Leasehold improvements	15% reducing balance
Fixtures and fittings	15% reducing balance

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:

Asset class	Amortisation method and rate
Goodwill	10% straight line

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.

WL Vets Limited

trading as Wendy Lane Veterinary Surgery

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

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.

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.

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.

WL Vets Limited

trading as Wendy Lane Veterinary Surgery

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

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 directors) during the year, was 34 (2024 - 22).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 May 2024	212,200	212,200
At 30 April 2025	212,200	212,200
Amortisation
At 1 May 2024	169,760	169,760
Amortisation charge	21,220	21,220
At 30 April 2025	190,980	190,980
Carrying amount
At 30 April 2025	21,220	21,220
At 30 April 2024	42,440	42,440

WL Vets Limited

trading as Wendy Lane Veterinary Surgery

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

5	Tangible assets

	Leashold Improvements £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2024	133,731	128,529	262,260
Additions	127,855	70,790	198,645
At 30 April 2025	261,586	199,319	460,905
Depreciation
At 1 May 2024	21,431	70,441	91,872
Charge for the year	36,023	19,332	55,355
At 30 April 2025	57,454	89,773	147,227
Carrying amount
At 30 April 2025	204,132	109,546	313,678
At 30 April 2024	112,300	58,088	170,388

Included within the net book value of land and buildings above is £204,131 (2024 - £112,300) in respect of short leasehold land and buildings.
 

6

Stocks

	2025 £	2024 £
Other inventories	71,457	54,034

7

Debtors

Current	2025 £	2024 £
Trade debtors	13,296	11,442
Prepayments	5,402	8,092
	18,698	19,534

WL Vets Limited

trading as Wendy Lane Veterinary Surgery

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

8

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	77,396	65,848
Amounts owed to related parties	50	838
Taxation and social security	29,042	23,035
Other creditors	74,482	80,037
	180,970	169,758

	2025 £	2024 £
Due after one year
Loans and borrowings	-	1,326