Broadway Animal Clinic Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04567491

Broadway Animal Clinic Limited

Filleted Unaudited Financial Statements

31 October 2024

Broadway Animal Clinic Limited

Financial Statements

Year ended 31 October 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Broadway Animal Clinic Limited

Statement of Financial Position

31 October 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	6	292,348	238,556

Current assets

Stocks		24,494	30,000
Debtors	7	47,006	58,370
Cash at bank and in hand		25,090	23,735
		--------	---------
		96,590	112,105

Creditors: amounts falling due within one year	8	241,435	232,784
		---------	---------
Net current liabilities		144,845	120,679
		---------	---------
Total assets less current liabilities		147,503	117,877

Creditors: amounts falling due after more than one year	9	215,552	80,714

Provisions	–	3,100
	---------	---------
Net (liabilities)/assets	( 68,049)	34,063
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 68,149)	33,963
	--------	--------
Shareholders (deficit)/funds	( 68,049)	34,063
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2024 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Broadway Animal Clinic Limited

Statement of Financial Position (continued)

31 October 2024

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

Mr A P Green	Mrs S P Green
Director	Director

Company registration number: 04567491

Broadway Animal Clinic Limited

Notes to the Financial Statements

Year ended 31 October 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Broadway Veterinary Group, Unit 1, The Links, Herne Business Park, Herne Bay, CT6 7FE, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	25% reducing balance
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

	Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 27 (2023: 30 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 November 2023 and 31 October 2024	47,000
	--------
Amortisation
At 1 November 2023 and 31 October 2024	47,000
	--------
Carrying amount
At 31 October 2024	–
	--------
At 31 October 2023	–
	--------

6. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Nov 2023	355,565	156,151	107,241	–	72,760	691,717
Additions	–	11,939	–	101,768	–	113,707
	---------	---------	---------	---------	--------	---------
At 31 Oct 2024	355,565	168,090	107,241	101,768	72,760	805,424
	---------	---------	---------	---------	--------	---------
Depreciation
At 1 Nov 2023	253,088	76,918	80,057	–	43,098	453,161
Charge for the year	25,619	13,676	6,733	11,873	2,014	59,915
	---------	---------	---------	---------	--------	---------
At 31 Oct 2024	278,707	90,594	86,790	11,873	45,112	513,076
	---------	---------	---------	---------	--------	---------
Carrying amount
At 31 Oct 2024	76,858	77,496	20,451	89,895	27,648	292,348
	---------	---------	---------	---------	--------	---------
At 31 Oct 2023	102,477	79,233	27,184	–	29,662	238,556
	---------	---------	---------	---------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	36,412	41,940
Other debtors	10,594	16,430
	--------	--------
	47,006	58,370
	--------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	58,634	32,616
Corporation tax	5,131	6,000
Social security and other taxes	97,261	87,490
Other creditors	80,409	106,678
	---------	---------
	241,435	232,784
	---------	---------

The company's bankers have a fixed and floating charge over the property and all undertakings of the company.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	215,552	80,714
	---------	--------

The company's bankers have a fixed and floating charge over the property and all undertakings of the company.

10. Related party transactions

At the year end the company owed a Director £136,118 (2023: £140,414), all of which is not due within 12 months of the balance sheet date.