REGISTERED NUMBER: 03127119 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Vet Skill Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L Heaton-Smith

Miss B Drysdale

Mr G L Warman

Mrs S J Double

SECRETARY:

Mr L Heaton-Smith

REGISTERED OFFICE:

10 Ramsay Court

Hinchingbrooke Business Park

Huntingdon

Cambridgeshire

PE29 6FY

REGISTERED NUMBER:

03127119 (England and Wales)

ACCOUNTANTS:

George Hay Partnership LLP

Chartered Accountants

St George's House

George Street

Huntingdon

Cambridgeshire

PE29 3GH

FIXED ASSETS

Intangible assets

5

19,994

56,344

Tangible assets

6

116,899

147,110

136,893

203,454

CURRENT ASSETS

Debtors

202,996

53,373

Cash at bank

10,331

15,658

213,327

69,031

CREDITORS

Amounts falling due within one year

200,048

107,493

NET CURRENT ASSETS/(LIABILITIES)

13,279

(38,462

)

TOTAL ASSETS LESS CURRENT LIABILITIES

150,172

164,992

CREDITORS

Amounts falling due after more than one year

-

20,311

NET ASSETS

150,172

144,681

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

135,000

135,000

Retained earnings

15,072

9,581

SHAREHOLDERS' FUNDS

150,172

144,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

Mr L Heaton-Smith - Director

1.	STATUTORY INFORMATION

Vet Skill 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured by sales of services provided as an awarding body and royalties receivable, excluding value added tax.

Intangible assets

Development costs are being amortised at variable rates over their estimated useful life.

Deferred development expenditure

Development costs are written off in the year of expenditure except when there is a reasonable expectation of specific commercial success and of future benefits arising from the work, either from increased revenue and related profits or from reduced costs. In such cases the development costs, to the extent that they are recoverable, are capitalised and amortised to the profit & loss account in future periods to be matched against the related revenues. With regards to the costs associated with the establishment and writing of internationally recognised qualifications, these revenues are expected to be realised evenly over a period of five years.

Tangible fixed assets

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

- Development expenditure - 20% straight line

- Fixtures and fittings - 25% reducing balance

- Motor vehicles - 25% reducing balance

- Computer equipment - 25% reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 176 (2023 - 163 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

760,750

AMORTISATION

At 1 January 2024

704,406

Amortisation for year

36,350

At 31 December 2024

740,756

NET BOOK VALUE

At 31 December 2024

19,994

At 31 December 2023

56,344

Intangible Fixed Assets consists of deferred development costs associated with the writing and establishment of nationally recognised qualifications commencing at varying dates between 2016 and 2019. The assets will be amortised evenly in line with the forecast realisation of income from the qualification with five years being the usual life cycle expected.

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

220,114

Additions

8,519

At 31 December 2024

228,633

DEPRECIATION

At 1 January 2024

73,004

Charge for year

38,730

At 31 December 2024

111,734

NET BOOK VALUE

At 31 December 2024

116,899

At 31 December 2023

147,110