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Registration number: 13071106

Millcroft Veterinary Group Limited
Annual Report and Unaudited Filleted Abridged Financial Statements
for the Year Ended 31 March 2025

Millcroft Veterinary Group Limited

Contents

Abridged Balance Sheet | 1 to 2
Notes to the Unaudited Abridged Financial Statements | 3 to 5

Millcroft Veterinary Group Limited

(Registration number: 13071106)
Abridged Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 2,732,766 | 2,903,499
Tangible assets | 5 | 952,275 | 1,068,483
Other financial assets | 6 | 10,000 | 10,000
|  | 3,695,041 | 3,981,982
Current assets |  |  |
Stocks |  | 350,227 | 282,136
Debtors |  | 643,212 | 797,945
Cash at bank and in hand |  | 1,109,270 | 493,975
|  | 2,102,709 | 1,574,056
Creditors: Amounts falling due within one year |  | (2,601,001) | (3,207,622)
Net current liabilities |  | (498,292) | (1,633,566)
Total assets less current liabilities |  | 3,196,749 | 2,348,416
Provisions for liabilities |  | (67,495) | (72,324)
Net assets |  | 3,129,254 | 2,276,092
Capital and reserves |  |  |
Called up share capital |  | 440 | 440
Profit and loss account |  | 3,128,814 | 2,275,652
Total equity |  | 3,129,254 | 2,276,092

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.

| 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 and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Millcroft Veterinary Group Limited

(Registration number: 13071106)
Abridged Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 10 September 2025 and signed on its behalf by:

Mr R Welford

Director

Mr J Frayne

Director

Ms L Sloan

Director

Mr M Linnett

Director

Ms L Ferguson

Director

Ms L Donoghue

Director

Millcroft Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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:
Wakefield Road
Cockermouth
Cumbria
CA13 0HR

These financial statements were authorised for issue by the Board on 10 September 2025.

2 | Accounting policies

Statement of compliance

These abridged financial statements were 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 abridged 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. Of the company's current liabilities at the year end, an amount is owed to the directors, who have agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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
Freehold property | 2% straight line
Leasehold improvement | Straight line over the term of lease
Motor vehicles | 25% reducing balance
Plant and machinery | 25% straight line

Millcroft Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

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 | 5% straight line

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

4 | Intangible assets

| Total £
Cost or valuation
At 1 April 2024 | 3,414,664
At 31 March 2025 | 3,414,664
Amortisation
At 1 April 2024 | 511,165
Amortisation charge | 170,733
At 31 March 2025 | 681,898
Carrying amount
At 31 March 2025 | 2,732,766
At 31 March 2024 | 2,903,499

Millcroft Veterinary Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

5 | Tangible assets

| Total £
Cost or valuation
At 1 April 2024 | 1,356,743
Additions | 70,108
At 31 March 2025 | 1,426,851
Depreciation
At 1 April 2024 | 288,260
Charge for the year | 186,316
At 31 March 2025 | 474,576
Carrying amount
At 31 March 2025 | 952,275
At 31 March 2024 | 1,068,483

Included within the net book value of land and buildings above is £502,986 (2024 - £495,260) in respect of freehold land and buildings and £184,628 (2024 - £241,702) in respect of long leasehold land and buildings.

6 | Other financial assets (current and non-current)

| Financial assets at cost less impairment £ | Total £
Non-current financial assets
Cost or valuation
At 1 April 2024 | 10,000 | 10,000
At 31 March 2025 | 10,000 | 10,000
Carrying amount
At 31 March 2025 | 10,000 | 10,000

7 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £129,500 (2024 - £188,000).