REGISTERED NUMBER: 09744356 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PORTLAND VETS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G H C Christopherson

Mrs J M Christopherson

REGISTERED OFFICE:

27 Portland Road

East Grinstead

West Sussex

RH19 4EB

REGISTERED NUMBER:

09744356 (England and Wales)

ACCOUNTANTS:

GBJ Financial Limited

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

FIXED ASSETS

Tangible assets

4

191,739

114,163

CURRENT ASSETS

Stocks

52,500

52,500

Debtors

5

1,002,371

842,823

Cash at bank and in hand

87,715

222,863

1,142,586

1,118,186

CREDITORS

Amounts falling due within one year

6

421,288

312,122

NET CURRENT ASSETS

721,298

806,064

TOTAL ASSETS LESS CURRENT LIABILITIES

913,037

920,227

CREDITORS

Amounts falling due after more than one year

7

607,149

680,705

NET ASSETS

305,888

239,522

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

305,588

239,222

SHAREHOLDERS' FUNDS

305,888

239,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

G H C Christopherson - Director

1.	STATUTORY INFORMATION

Portland Vets Limited 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.

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

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2024 - 48 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 April 2024

70,726

76,832

6,679

154,237

Additions

-

120,477

-

120,477

At 31 March 2025

70,726

197,309

6,679

274,714

DEPRECIATION

At 1 April 2024

2,032

31,363

6,679

40,074

Charge for year

1,415

41,486

-

42,901

At 31 March 2025

3,447

72,849

6,679

82,975

NET BOOK VALUE

At 31 March 2025

67,279

124,460

-

191,739

At 31 March 2024

68,694

45,469

-

114,163

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

466,987

343,897

Amounts owed by group undertakings

515,000

480,201

Other debtors

20,384

18,725

1,002,371

842,823

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

62,520

62,520

Trade creditors

52,127

29,296

Taxation and social security

204,951

213,125

Other creditors

101,690

7,181

421,288

312,122

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

607,149

680,705

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

607,149

680,705

8.	RELATED PARTY DISCLOSURES

During the year, the company was charged management fees of £579,578 (2024: £971,738) by Portland Veterinary Services Limited. The director and shareholder of Portland Vets Limited is also a director of Portland Veterinary Services Limited. The company was owed £515,000 (2024: £457,973) from Portland Veterinary Services Limited at the year end.

At the year end the company was owed £Nil (2024: £3,216) from Crawley Emergency Vets Ltd. The director and shareholder of Portland Vets Limited is also a director of Crawley Emergency Vets Ltd.

At the year end the company was owed £Nil (2024: £269) from Portland Veterinary Services Horley Limited. The director and shareholder of Portland Vets Limited is also a director of Portland Vets Horley Limited.

At the year end the company owed £Nil (was owed 2024: £18,743) to/from Lingfield Equine Limited. The director and shareholder of Portland Vets Limited is also a director of Lingfield Equine Limited.