Company registration number 09437928 (England and Wales)
THE MEWES VETS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
THE MEWES VETS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
THE MEWES VETS LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
4,261
Tangible assets
4
253,753
250,087
253,753
254,348
Current assets
Stocks
68,120
62,134
Debtors
5
-
0
15,204
Cash at bank and in hand
10,650
5,150
78,770
82,488
Creditors: amounts falling due within one year
6
(203,200)
(156,950)
Net current liabilities
(124,430)
(74,462)
Total assets less current liabilities
129,323
179,886
Creditors: amounts falling due after more than one year
7
(234,676)
(236,666)
Net liabilities
(105,353)
(56,780)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(105,453)
(56,880)
Total equity
(105,353)
(56,780)
THE MEWES VETS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 9 July 2025
J Mewes
Director
Company registration number 09437928 (England and Wales)
THE MEWES VETS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

The Mewes Vets Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Haywards Road, Haywards Heath, West Sussex, RH16 4HT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

THE MEWES VETS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% reducing balance
Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

THE MEWES VETS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE MEWES VETS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.13
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
30
20
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
39,638
Amortisation and impairment
At 1 April 2024
35,377
Amortisation charged for the year
4,261
At 31 March 2025
39,638
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
4,261
THE MEWES VETS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
4
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
148,595
176,686
38,729
59,449
8,780
432,239
Additions
35,590
29,581
8,457
4,262
-
0
77,890
At 31 March 2025
184,185
206,267
47,186
63,711
8,780
510,129
Depreciation and impairment
At 1 April 2024
38,088
92,066
11,777
31,850
8,371
182,152
Depreciation charged in the year
14,345
37,097
11,139
11,234
409
74,224
At 31 March 2025
52,433
129,163
22,916
43,084
8,780
256,376
Carrying amount
At 31 March 2025
131,752
77,104
24,270
20,627
-
0
253,753
At 31 March 2024
110,507
84,620
26,952
27,599
409
250,087
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
15,204
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
25,240
19,240
Trade creditors
79,450
66,149
Taxation and social security
70,690
46,258
Other creditors
27,820
25,303
203,200
156,950
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
44,258
39,528
Other creditors
190,418
197,138
234,676
236,666
THE MEWES VETS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
2025-03-31 2024-04-01 false false false 09 July 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity J Mewes 09437928 2024-04-01 2025-03-31 09437928 2025-03-31 09437928 2024-03-31 09437928 core:NetGoodwill 2025-03-31 09437928 core:NetGoodwill 2024-03-31 09437928 core:LeaseholdImprovements 2025-03-31 09437928 core:PlantMachinery 2025-03-31 09437928 core:FurnitureFittings 2025-03-31 09437928 core:ComputerEquipment 2025-03-31 09437928 core:MotorVehicles 2025-03-31 09437928 core:LeaseholdImprovements 2024-03-31 09437928 core:PlantMachinery 2024-03-31 09437928 core:FurnitureFittings 2024-03-31 09437928 core:ComputerEquipment 2024-03-31 09437928 core:MotorVehicles 2024-03-31 09437928 core:WithinOneYear 2025-03-31 09437928 core:WithinOneYear 2024-03-31 09437928 core:AfterOneYear 2025-03-31 09437928 core:AfterOneYear 2024-03-31 09437928 core:CurrentFinancialInstruments 2025-03-31 09437928 core:CurrentFinancialInstruments 2024-03-31 09437928 core:ShareCapital 2025-03-31 09437928 core:ShareCapital 2024-03-31 09437928 core:RetainedEarningsAccumulatedLosses 2025-03-31 09437928 core:RetainedEarningsAccumulatedLosses 2024-03-31 09437928 core:ShareCapitalOrdinaryShareClass1 2025-03-31 09437928 core:ShareCapitalOrdinaryShareClass1 2024-03-31 09437928 bus:Director1 2024-04-01 2025-03-31 09437928 core:Goodwill 2024-04-01 2025-03-31 09437928 core:LeaseholdImprovements 2024-04-01 2025-03-31 09437928 core:PlantMachinery 2024-04-01 2025-03-31 09437928 core:FurnitureFittings 2024-04-01 2025-03-31 09437928 core:ComputerEquipment 2024-04-01 2025-03-31 09437928 core:MotorVehicles 2024-04-01 2025-03-31 09437928 2023-04-01 2024-03-31 09437928 core:NetGoodwill 2024-03-31 09437928 core:NetGoodwill 2024-04-01 2025-03-31 09437928 core:LeaseholdImprovements 2024-03-31 09437928 core:PlantMachinery 2024-03-31 09437928 core:FurnitureFittings 2024-03-31 09437928 core:ComputerEquipment 2024-03-31 09437928 core:MotorVehicles 2024-03-31 09437928 2024-03-31 09437928 core:Non-currentFinancialInstruments 2025-03-31 09437928 core:Non-currentFinancialInstruments 2024-03-31 09437928 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 09437928 bus:OrdinaryShareClass1 2025-03-31 09437928 bus:OrdinaryShareClass1 2024-03-31 09437928 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 09437928 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 09437928 bus:FRS102 2024-04-01 2025-03-31 09437928 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 09437928 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP