The Burghley Veterinary Centres Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05778796 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE BURGHLEY VETERINARY CENTRES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W A F Foster

Mrs C P Foster

Mrs M E Moggridge

REGISTERED OFFICE:

St Leonards Street

Stamford

Lincolnshire

PE9 2HU

REGISTERED NUMBER:

05778796 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Intangible assets

4

56,250

93,750

Tangible assets

5

35,674

59,279

91,924

153,029

CURRENT ASSETS

Stocks

32,751

32,053

Debtors

6

139,798

84,735

Cash at bank and in hand

68,262

177,168

240,811

293,956

CREDITORS

Amounts falling due within one year

7

192,972

198,876

NET CURRENT ASSETS

47,839

95,080

TOTAL ASSETS LESS CURRENT
LIABILITIES

139,763

248,109

CREDITORS

Amounts falling due after more than one year

8

(29,760

)

(120,819

)

PROVISIONS FOR LIABILITIES

(8,919

)

(14,543

)

NET ASSETS

101,084

112,747

CAPITAL AND RESERVES

Called up, fully paid share capital

100

Retained earnings

100,984

112,647

SHAREHOLDERS' FUNDS

101,084

112,747

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.

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 Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

Mrs M E Moggridge - Director

1.	STATUTORY INFORMATION

The Burghley Veterinary Centres Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of value added tax and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. For sales of goods, the turnover is shown net of distribution and carriage charges.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, when the amount of revenue can be measured reliably, when it is probable that the associated economic benefits will flow to the entity and when the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

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

Financial instruments

The Company only enters into basic financial instruments transactions that resulted in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence if impairment. If objective evidence of impairment is found, an impairment loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

750,000

AMORTISATION

At 1 January 2024

656,250

Charge for year

37,500

At 31 December 2024

693,750

NET BOOK VALUE

At 31 December 2024

56,250

At 31 December 2023

93,750

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

124,802

19,564

79,461

26,453

250,280

Disposals

(1,679

)

-

(1,679

)

At 31 December 2024

123,123

19,564

79,461

26,453

248,601

DEPRECIATION

At 1 January 2024

107,951

16,518

42,398

24,134

191,001

Charge for year

5,599

393

15,054

1,076

22,122

Eliminated on disposal

(196

)

-

(196

)

At 31 December 2024

113,354

16,911

57,452

25,210

212,927

NET BOOK VALUE

At 31 December 2024

9,769

2,653

22,009

1,243

35,674

At 31 December 2023

16,851

3,046

37,063

2,319

59,279

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

85,309

32,819

Other debtors

54,489

51,916

139,798

84,735

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

55,001

55,000

Hire purchase contracts (see note 9)

28,821

12,430

Trade creditors

40,448

43,562

Taxation and social security

62,068

81,265

Other creditors

6,634

6,619

192,972

198,876

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

29,760

91,998

Hire purchase contracts (see note 9)

-

28,821

29,760

120,819

9.	LEASING AGREEMENTS

As at 31st December 2024 the company was committed to making payments of £95,250 (2023 - £158,750) under non-cancellable operating leases.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Hire purchase contracts

28,821

41,251

Bank loan

69,760

121,997

98,581

163,248

The bank loan is secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital, building fixtures and plant and machinery.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

Mrs M E Moggridge

Balance outstanding at start of year

15,565

65,132

Amounts advanced

60,058

45,669

Amounts repaid

(51,050

)

(95,236

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

24,573

15,565

Mr W A F Foster and Mrs C P Foster

Balance outstanding at start of year

1,000

-

Amounts advanced

13,774

1,000

Amounts repaid

(12,000

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

2,774

1,000