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Registered number: 05317970 MED&VET UK LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 30 SEPTEMBER 2024
MED&VET UK LIMITED REGISTERED NUMBER:05317970
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 327,881 |  | 290,353
|  |  | 327,881 |  | 290,353
Current assets |  |  |  |  |
Stocks |  | 20,106 |  | 24,980 |
Debtors: amounts falling due within one year | 5 | 5,863 |  | 9,289 |
Cash at bank and in hand |  | 21,526 |  | - |
|  | 47,495 |  | 34,269 |
Creditors: amounts falling due within one year | 6 | (153,682) |  | (269,740) |
Net current liabilities |  |  | (106,187) |  | (235,471)
Total assets less current liabilities |  |  | 221,694 |  | 54,882
Net assets |  |  | 221,694 |  | 54,882
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,000 |  | 1,000
Profit and loss account |  |  | 220,694 |  | 53,882
|  |  | 221,694 |  | 54,882
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MED&VET UK LIMITED REGISTERED NUMBER:05317970
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 SEPTEMBER 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Dr M Bouvet
Director
Date: 18 November 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
MED&VET UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1. | General information
Med&Vet UK Limited is a private company limited by shares and incorporated in England and Wales, registration number 05317970. The registered office is Cherry Tree Stables, Roydon Road, Diss, Norfolk, IP22 4LN. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred. Page 3
MED&VET UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024 2.Accounting policies (continued)
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income 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 income.
| 2.7 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence. The exceptional items disclosed within the accounts arise from the agreed write offs of the intercompany loans with Cherry Tree Vets Ltd and Genevet Ltd at 30 September 2024, and 30 September 2025. This was confirmed by M Bouvet, the director of Med & Vet UK Ltd, Cherry Tree Vets Ltd and Genevet Ltd
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Bulidings and structures | - | 2% | straight line basis
|  |  |  | Plant & machinery | - | 25% | reducing balance
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Biological assets | - |  | No depreciation - fair value through profit and loss
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
MED&VET UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024 2.Accounting policies (continued)
| 2.9 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the period was 5 (2023 - 5).
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MED&VET UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024
4. | Tangible fixed assets
|  | Buildings and structures | Plant & machinery | Motor vehicles | Biological assets | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 October 2023 | 213,999 | 16,945 | 300 | 79,342 | 310,586
| Additions | 41,162 | - | - | 3,485 | 44,647
| At 30 September 2024 | 255,161 | 16,945 | 300 | 82,827 | 355,233
| Depreciation |  |  |  |  |
| At 1 October 2023 | 11,052 | 9,008 | 173 | - | 20,233
| Charge for the period on owned assets | 5,103 | 1,984 | 32 | - | 7,119
| At 30 September 2024 | 16,155 | 10,992 | 205 | - | 27,352
| Net book value |  |  |  |  |
| At 30 September 2024 | 239,006 | 5,953 | 95 | 82,827 | 327,881
| At 30 September 2023 | 202,947 | 7,937 | 127 | 79,342 | 290,353
| The costs of the biological asset are considered to representative of its fair value at 30 September 2024.
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Nursery site development costs and sheds | 239,006 | 202,947
|  | 239,006 | 202,947
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MED&VET UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 1,500 | 5,418
| Called up share capital not paid | 1,000 | 1,000
| Prepayments and accrued income | 3,363 | 2,871
|  | 5,863 | 9,289
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank overdrafts | - | 8,864
| Trade creditors | 24,084 | 9,148
| Other taxation and social security | 5,644 | 7,542
| Other creditors | 119,754 | 240,441
| Accruals and deferred income | 4,200 | 3,745
|  | 153,682 | 269,740
7. | Related party transactions
| At the start of the year, Med & Vet UK Ltd owed £190,013 to Cherry Tree Vets Ltd as a result of historic intercompany transactions. In year transactions resulted in further advances of £120,895 being made from Cherry Tree Vets Ltd, therefore the balance owed at 30 September 2024 totalling £310,908. It was agreed by M Bouvet, who is also a director of all three companies, that the loans will be written off at 30 September 2024, less any repayments made after this date, shown in administrative expenses. The balance therefore will become £nil At the start of the year, Med & Vet UK Ltd owed £6,231 to Genevet Ltd as a result of historic intercompany transactions. In year transactions resulted in net repayments of £1,413 being made to Genevet Ltd, therefore the balance owed at 30 September 2024 totalled £4,818. Genevet Ltd has subsequently dissolved in 2025 with this balance outstanding. Therefore this balance is also written off at 30 September 2024. This is also included in administrative expenses and the balance will become £nil.
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