Registration number: 07961322

Bishops Stortford Veterinary Hospital Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 12

Bishops Stortford Veterinary Hospital Limited

Company Information

Directors

N MacLeod R Jackson L Romain P Ritchie

Registered office

Bishops Stortford Veterinary Hospital Rye Street Bishop's Stortford Hertfordshire CM23 2HA

Accountants

Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Bishops Stortford Veterinary Hospital Limited

(Registration number: 07961322)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	380,204	429,461
Tangible assets	5	1,066,770	1,076,964
		1,446,974	1,506,425
Current assets
Stocks		173,723	122,974
Debtors	6	326,030	301,251
Cash at bank and in hand		817,019	599,539
		1,316,772	1,023,764
Creditors: Amounts falling due within one year	7	(614,992)	(431,467)
Net current assets		701,780	592,297
Total assets less current liabilities		2,148,754	2,098,722
Deferred tax liabilities	8	(36,774)	(39,240)
Net assets		2,111,980	2,059,482
Capital and reserves
Called up share capital		570	570
Capital redemption reserve		30	30
Retained earnings		2,111,380	2,058,882
Shareholders' funds		2,111,980	2,059,482

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Bishops Stortford Veterinary Hospital Limited

(Registration number: 07961322)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 2 October 2025 and signed on its behalf by:
 

N MacLeod
Director

R Jackson
Director

L Romain
Director

P Ritchie
Director

Bishops Stortford Veterinary Hospital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bishops Stortford Veterinary Hospital
Rye Street
Bishop's Stortford
Hertfordshire
CM23 2HA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

No key sources of uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Revenue represents amounts earned from clients for veterinary services and the sale of products. Revenue for the delivery of veterinary services and the sale of products is recognised when the veterinary consultation or procedure is completed and the goods are passed to the client.

The company operates a Pet Health Plan ("PHP"), where members pay an annual subscription fee on a monthly basis and receive a variety of benefits including consultations and treatments periodically plus discounts on certain products and services whilst they are a member. The monthly subscription receipt is recognised as revenue when it is received by the company from the client.

Bishops Stortford Veterinary Hospital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets while taking into account their residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% of cost
Plant and machinery	25% of written down value
Computer equipment	33.33% of cost
Motor vehicles	25% of written down value

Bishops Stortford Veterinary Hospital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Bishops Stortford Veterinary Hospital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Bishops Stortford Veterinary Hospital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

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

	2025  No.	2024  No.
Average number of employees	63	60

4

Intangible assets

	Goodwill  £	Total £
Cost
At 1 April 2024	985,130	985,130
At 31 March 2025	985,130	985,130
Amortisation
At 1 April 2024	555,669	555,669
Amortisation charge	49,257	49,257
At 31 March 2025	604,926	604,926
Carrying amount
At 31 March 2025	380,204	380,204
At 31 March 2024	429,461	429,461

Bishops Stortford Veterinary Hospital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

	2025 £	2024 £
Trade debtors	170,597	142,862
Prepayments	155,433	153,108
Other debtors	-	5,281
	326,030	301,251

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	74,583	93,643
Trade creditors		157,578	126,784
Taxation and social security		355,752	183,850
Accruals and deferred income		11,965	11,400
Other creditors		15,114	15,790
		614,992	431,467

8

Deferred tax

Deferred tax assets and liabilities

2025	Liability £
Difference between accumulated depreciation and amortisation and capital allowances	36,774