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Registered number: 08484839
Vets 1 Group Limited
Unaudited Financial Statements
For The Year Ended 30 April 2025
MAC Accounting (Norfolk) Ltd
Vets 1 Group Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Vets 1 Group Limited
Balance Sheet
As At 30 April 2025
Balance Sheet
Registered number: 08484839

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Intangible Assets | 4 |  | 478 |  | 5,167
Tangible Assets | 5 |  | 318,317 |  | 290,107
|  |  | 318,795 |  | 295,274
CURRENT ASSETS
Stocks | 6 | 72,593 |  | 79,395 |
Debtors | 7 | 630,557 |  | 600,309 |
Cash at bank and in hand |  | 126,628 |  | 90,512 |
|  | 829,778 |  | 770,216 |
Creditors: Amounts Falling Due Within One Year | 8 | (603,041 ) |  | (540,474 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 226,737 |  | 229,742
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 545,532 |  | 525,016
Creditors: Amounts Falling Due After More Than One Year | 9 |  | (342,840 ) |  | (346,713 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (33,031 ) |  | (23,096 )
NET ASSETS |  |  | 169,661 |  | 155,207
CAPITAL AND RESERVES
Called up share capital | 11 |  | 1,208 |  | 1,208
Share premium account |  |  | 54,515 |  | 54,515
Profit and Loss Account |  |  | 113,938 |  | 99,484
SHAREHOLDERS' FUNDS |  |  | 169,661 |  | 155,207

Page 1
Page 2
Vets 1 Group Limited
Balance Sheet (continued)
As At 30 April 2025
For the year ending 30 April 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Simon Power Director
13/11/2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Vets 1 Group Limited
Notes to the Financial Statements
For The Year Ended 30 April 2025
Notes to the Financial Statements
1. General Information
Vets 1 Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08484839 . The registered office is Home Farm Barns Downham Road, Crimplesham, King's Lynn, PE33 9DU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of veterinary services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible asssets consist of app development costs. This is recorded at cost and will be amortised evenly over five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold | 4 Year Straight line
Plant & Machinery | 25% Reducing balance
Motor Vehicles | 25% Reducing balance
Computer Equipment | 25% Reducing balance

2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
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Vets 1 Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 52 (2024: 56)
52 56
4. Intangible Assets

| Other
--- | ---
| £
Cost
As at 1 May 2024 | 23,923
As at 30 April 2025 | 23,923
Amortisation
As at 1 May 2024 | 18,756
Provided during the period | 4,689
As at 30 April 2025 | 23,445
Net Book Value
As at 30 April 2025 | 478
As at 1 May 2024 | 5,167

5. Tangible Assets

| Land & Property
--- | ---
| Leasehold | Plant & Machinery | Motor Vehicles | Computer Equipment | Total
| £ | £ | £ | £ | £
Cost
As at 1 May 2024 | 270,020 | 533,089 | 13,995 | 61,077 | 878,181
Additions | - | 63,555 | - | 1,497 | 65,052
As at 30 April 2025 | 270,020 | 596,644 | 13,995 | 62,574 | 943,233
Depreciation
As at 1 May 2024 | 73,026 | 456,182 | 12,944 | 45,922 | 588,074
Provided during the period | 10,801 | 21,728 | 263 | 4,050 | 36,842
As at 30 April 2025 | 83,827 | 477,910 | 13,207 | 49,972 | 624,916
Net Book Value
As at 30 April 2025 | 186,193 | 118,734 | 788 | 12,602 | 318,317
As at 1 May 2024 | 196,994 | 76,907 | 1,051 | 15,155 | 290,107

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Vets 1 Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
6. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Stock | 72,593 |  | 79,395

7. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | (102,612 ) |  | (26,475 )
Other debtors | 733,169 |  | 626,784
| 630,557 |  | 600,309

8. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 15,252 |  | 15,167
Trade creditors | 238,388 |  | 200,118
Bank loans and overdrafts | 112,020 |  | 85,582
Amounts owed to participating interests | (3,804 ) |  | 3,897
Other creditors | 69,337 |  | 55,317
Taxation and social security | 171,848 |  | 180,393
| 603,041 |  | 540,474

9. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 73,121 |  | 24,136
Bank loans | 269,719 |  | 322,577
| 342,840 |  | 346,713

10. Obligations Under Finance Leases and Hire Purchase

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 15,252 |  | 15,167
Later than one year and not later than five years | 73,121 |  | 24,136
| 88,373 |  | 39,303
| 88,373 |  | 39,303

11. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1,208 |  | 1,208

Page 5
Page 6
Vets 1 Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 April 2025
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | 110,843 |  | 117,311
Later than one year and not later than five years | 284,403 |  | 269,710
Later than five years | 499,847 |  | 562,328
| 895,093 |  | 949,349

13. Related Party Transactions
Vets 1 Group Holdings LtdParent Company of Vets 1 Group LimitedDuring the year, Vets 1 Group Ltd declared dividends of £75,500 (2024: £80,000) to its parent company, Vets 1 Group Holdings Ltd. Of this amount, £74,500 was paid in cash during the year and £1,000 remained payable at the year end. Vets 1 Group Ltd also paid £100 directly to Vets 1 Group Holdings Ltd and, in addition, settled £8,601 on behalf of Vets 1 Group Holdings Ltd in respect of the purchase of shares in Vets 1 Group Ltd. As at 30 April 2025, the balance due from Vets 1 Group Holdings Ltd to Vets 1 Group Ltd was £3,803 (2024: £3,897). This balance is interest-free, repayable on demand, and is included under “Amounts owed by group undertakings.”

Vets 1 Group Holdings Ltd

Parent Company of Vets 1 Group Limited

During the year, Vets 1 Group Ltd declared dividends of £75,500 (2024: £80,000) to its parent company, Vets 1 Group Holdings Ltd. Of this amount, £74,500 was paid in cash during the year and £1,000 remained payable at the year end. Vets 1 Group Ltd also paid £100 directly to Vets 1 Group Holdings Ltd and, in addition, settled £8,601 on behalf of Vets 1 Group Holdings Ltd in respect of the purchase of shares in Vets 1 Group Ltd. As at 30 April 2025, the balance due from Vets 1 Group Holdings Ltd to Vets 1 Group Ltd was £3,803 (2024: £3,897). This balance is interest-free, repayable on demand, and is included under “Amounts owed by group undertakings.”

Vets 1 Group (King's Lynn) LtdCompany under common control

Vets 1 Group (King's Lynn) Ltd

Company under common control

During the year, Vets 1 Group (King's Lynn) Limited was invoiced net £135,752 by Vets 1 Group Ltd to cover wage expenses (2024: £123,467). As of 30th April 2025, the outstanding balance owed to Vets 1 Group Ltd was £8,779 (2024: £112,376), which is included in the trade receivables of Vets 1 Group Ltd as of 30th April 2025. The balance is interest-free and repayable on demand.
In addition to the transactions noted above, Vets 1 Group (King's Lynn) Ltd owes Vets 1 Group Ltd £537,938 (2024: £409,368). This balance consists of various items, including the re-charge of bank interest payments of £13,329 (2024: £14,322) to Vets 1 Group (King's Lynn) Ltd, as well as mutual settlement of purchase invoices and other transactions totalling £115,241. Other transactions include cash transfers between the two entities. The balance is interest-free, repayable on demand, and is recorded within Other Debtors.
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