Company No: 10836453 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	137,910		114,451
		137,910		114,451
Current assets
Stocks		47,227		51,625
Debtors	4	120,189		189,061
Cash at bank and in hand		110,845		107,486
		278,261		348,172
Creditors: amounts falling due within one year	5	( 145,938)		( 169,920)
Net current assets		132,323		178,252
Total assets less current liabilities		270,233		292,703
Provision for liabilities		( 24,500)		( 20,700)
Net assets		245,733		272,003
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		245,633		271,903
Total shareholder's funds		245,733		272,003

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.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Summerleaze Vets Limited (registered number: 10836453) were approved and authorised for issue by the Board of Directors on 27 August 2025. They were signed on its behalf by:

Mr S Altoft Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Summerleaze Vets Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Summerleaze Farm Gammonds Hill, Kilmington, Axminster, EX13 7RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings	5 years straight line
Plant and machinery	10 % reducing balance
Vehicles	20 % reducing balance
Office equipment	20 % reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		14

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	21,522		124,713		46,947		28,049		221,231
Additions	0		14,100		26,995		1,251		42,346
At 31 March 2025	21,522		138,813		73,942		29,300		263,577
Accumulated depreciation
At 01 April 2024	21,522		43,696		24,872		16,690		106,780
Charge for the financial year	0		8,951		7,664		2,272		18,887
At 31 March 2025	21,522		52,647		32,536		18,962		125,667
Net book value
At 31 March 2025	0		86,166		41,406		10,338		137,910
At 31 March 2024	0		81,017		22,075		11,359		114,451

4. Debtors

	2025		2024
	£		£
Trade debtors	81,828		83,782
Amounts owed by Parent undertakings	14,933		82,433
Prepayments	7,627		7,047
Other debtors	15,801		15,799
	120,189		189,061

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	29,231		51,866
Amounts owed to directors	10,940		24,100
Accruals	31,956		24,792
Taxation and social security	71,274		66,352
Other creditors	2,537		2,810
	145,938		169,920

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

7. Financial commitments

Other financial commitments

	2025		2024
	£		£
The total amount of financial commitments not included in the balance sheet	41,217		65,413