REGISTERED NUMBER: 10028967 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

VETX INTERNATIONAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D K Nicol

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

BUSINESS ADDRESS:

Ridgeland House

165 Dyke Road

Hove

East Sussex

BN3 1TL

REGISTERED NUMBER:

10028967 (England and Wales)

ACCOUNTANTS:

Plus Accounting

Chartered Accountants

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

FIXED ASSETS

Tangible assets

4

10,267

10,162

CURRENT ASSETS

Debtors

5

16,814

20,132

Cash at bank

118,206

174,738

135,020

194,870

CREDITORS

Amounts falling due within one year

6

(15,853

)

(26,595

)

NET CURRENT ASSETS

119,167

168,275

TOTAL ASSETS LESS CURRENT LIABILITIES

129,434

178,437

CREDITORS

Amounts falling due after more than one year

7

(193,529

)

(193,529

)

PROVISIONS FOR LIABILITIES

8

(2,541

)

(2,261

)

NET LIABILITIES

(66,636

)

(17,353

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(66,637

)

(17,354

)

SHAREHOLDERS' FUNDS

(66,636

)

(17,353

)

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2025 and were signed by:

D K Nicol - Director

1.	STATUTORY INFORMATION

Vetx International 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Revenue from the provision of services is recognised on completion of the services rendered.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Fixtures and fittings

- 25% reducing balance

Computer equipment

- 25% reducing balance

Financial instruments

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 entity after deducting all of its financial liabilities.

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 plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the income statement when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Impairment

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

9,361

14,944

24,305

Additions

3,527

-

3,527

At 31 December 2024

12,888

14,944

27,832

DEPRECIATION

At 1 January 2024

5,713

8,430

14,143

Charge for year

1,794

1,628

3,422

At 31 December 2024

7,507

10,058

17,565

NET BOOK VALUE

At 31 December 2024

5,381

4,886

10,267

At 31 December 2023

3,648

6,514

10,162

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

3,097

12,833

Other debtors

13,717

7,299

16,814

20,132

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

351

85

Taxation and social security

5,587

11,200

Other creditors

9,915

15,310

15,853

26,595

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

193,529

193,529

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

193,529

193,529

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

2,541

2,261

Deferred tax

£

Balance at 1 January 2024

2,261

Accelerated capital allowances

280

Balance at 31 December 2024

2,541

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

10.	RELATED PARTY DISCLOSURES

D K Nicol is a director and shareholder of Roundwood Vets Limited.

During the year the company invoiced consultancy services of £40,837 (2023: £39,275) to Roundwood Vets Limited. Roundwood Vets Ltd owed £Nil (2023: £9,523) with respect to these consultancy services at 31 December 2024.

At 31 December 2024, the company owed £946 (2023: £1,226) to Roundwood Vets Limited in respect of an intercompany loan.

11.	NEGATIVE RETAINED EARNINGS

Under s830 of the Companies Act 2006 a company is prohibited from making a distribution except out of profits available for this purpose. If at the time of distribution the members know or have reasonable grounds for knowing that a distribution is unlawful they are liable to repay it (or that part of it, as the case may be) to the company in the event of a winding up as stipulated by s847 of the Companies Act 2006.

At the time the dividend was paid the directors were not aware that there were insufficient profits available for distribution and the directors acknowledge that no further distributions can be made until there are sufficient profits available for that purpose.