REGISTERED NUMBER: OC420179 (England and Wales)

Report of the Members and

Unaudited Financial Statements

For The Year Ended 31st March 2025

for

Vet Practice Support LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

Ms M I Giannitrapani

B Griffin

R J Wilkinson

Mrs S Wilkinson

REGISTERED OFFICE:

4 Old Market Place

Ripon

North Yorkshire

HG4 1EQ

REGISTERED NUMBER:

OC420179 (England and Wales)

ACCOUNTANTS:

F E Metcalfe & Co Limited

Chartered Accountants

4 Old Market Place

Ripon

North Yorkshire

HG4 1EQ

The members present their report with the financial statements of the LLP for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

CESSATION OF TRADE

The LLP transferred its business to VPS (Yorkshire) Ltd at 23.00 on 31st March 2024. The business was transferred as a going concern and the LLP ceased to trade at this date. Following the year end the consideration loan has been repaid in full and the loans and other debts due to members have been repaid in full. The members plan to wind up the LLP. The accounts have not been prepared using a going concern basis.

DESIGNATED MEMBERS

The designated members during the year under review were:

Ms M I Giannitrapani

B Griffin

R J Wilkinson

Mrs S Wilkinson

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £NIL (2024 - £1,125,147 profit).

MEMBERS' INTERESTS

Designated members participate fully in the profits and share the risks of the business. The profit for the financial year is allocated to members following the year end and at the date that the financial statements are approved. The unallocated profits for the year are disclosed in the financial statements as Members Other Interests within equity in accordance with the SORP for Limited Liability Partnerships.

The members drawings are agreed in advance and based upon the cashflow forecasts of the business, retaining sufficient working capital in the LLP.

MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law (as applied by The Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the limited liability partnership and the profit and loss of the limited liability partnership for that period.

In preparing these financial statements, the members are required to :

- select suitable accounting policies abd apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements

ON BEHALF OF THE MEMBERS:

R J Wilkinson - Designated member

23rd December 2025

TURNOVER

-

2,359,266

Cost of sales

-

868,074

GROSS PROFIT

-

1,491,192

Administrative expenses

-

369,723

-

1,121,469

Other operating income

-

2,880

-

1,124,349

Interest receivable and similar income

-

798

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

-

1,125,147

CURRENT ASSETS

Debtors

4

404,344

881,847

Cash at bank

465

139,776

404,809

1,021,623

CREDITORS

Amounts falling due within one year

5

-

139,776

NET CURRENT ASSETS

404,809

881,847

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

404,809

881,847

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

404,809

881,847

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

404,809

881,847

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 23rd December 2025 and were signed by:

R J Wilkinson - Designated member

1.	STATUTORY INFORMATION

Vet Practice Support LLP is registered in England and Wales. The Limited Liability Partnership's registered number and registered address can be found on the General Information page.

The financial information has been rounded to the nearest pound.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These accounts 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Going Concern

The LLP transferred its business to VPS (Yorkshire) Limited at 23.00 on 31st March 2024. The LLP ceased to trade at this date and as a result these financial statements have not been prepared using the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the provision of services is recognised when the service has been delivered and completed. This is usually at the date the invoice is raised.

Interest Receivable

Interest income is recognised using the effective interest method .

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimate residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 20% on cost

Computer Equipment - 33% on reducing balance

Motor vehicles - 20% on cost

Foreign currencies

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits

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

When employees have rendered service to the LLP, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Post Retirement benefits to Members and Former Members

Under the terms of the membership agreement the LLP has a liability to make post retirement payments to members after they have retired from the partnership.

The amount provided is included in 'Loans and other debts due to members' whilst the member remains a member of the LLP. Upon retirement the outstanding liability is transferred to creditorsanddisclosed aspost retirement payments to formermembers.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses

Impairment

Assets not measured at fair value are reviewed for any indication that he asset may be impaired at each balance sheet date.If such indication exists, the recoverable amount of each asset, ot the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the LLP has an obligation at the balance sheet dates as a result of a past event. It is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - 12 ).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

404,344

881,847

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Social security and other taxes

-

24,927

VAT

-

114,849

-

139,776

6.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.03.24

31.03.23

£

£

Undrawn allocated profits

-

-

In event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank after payments to other creditors.

There are no such restrictions or limitations existing in the ability of the members to reduce the amount of 'Members other interests'.