VETERINARY EMERGENCY SERVICES LIMITED


Directors	MOGNETTI, Louis-Gabriel Marie Andre
	PRADIER, Clara Aglae


Registered Address	51 Hoxton Square
	London
	N1 6PB


Registered Number	12819395 (England and Wales)

Notes to the Financial Statements
for the year ended 31 August 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	20	-
Fixtures and fittings	-	4
Vehicles	20	-
Office Equipment	-	4

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	54		49

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 September 24	2,612	2,612
At 31 August 25	2,612	2,612
Amortisation and impairment
At 01 September 24	746	746
Charge for year	373	373
At 31 August 25	1,119	1,119
Net book value
At 31 August 25	1,493	1,493
At 31 August 24	1,866	1,866

5.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 September 24	292,348	146,687	362,125	18,185	819,345
Additions	161,213	21,271	393,273	11,706	587,463
Disposals	(4,155)	(29,757)	-	-	(33,912)
At 31 August 25	449,406	138,201	755,398	29,891	1,372,896
Depreciation and impairment
At 01 September 24	110,583	42,729	124,936	11,757	290,005
Charge for year	67,099	21,237	127,056	6,852	222,244
On disposals	(831)	(10,712)	-	-	(11,543)
At 31 August 25	176,851	53,254	251,992	18,609	500,706
Net book value
At 31 August 25	272,555	84,947	503,406	11,282	872,190
At 31 August 24	181,765	103,958	237,189	6,428	529,340

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	38,101	15,781
Other debtors	42,655	26,955
Prepayments and accrued income	26,459	16,905
Total	107,215	59,641

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	106,875	103,360
Bank borrowings and overdrafts	69,459	34,567
Amounts owed to related parties	21,850	13,480
Taxation and social security	340,915	239,345
Finance lease and HP contracts	75,697	54,559
Other creditors	134,096	106,273
Total	748,892	551,584

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	456,545	232,867
Other creditors	175,263	147,505
Total	631,808	380,372

9.	Creditors: amounts due after 5 years
	Bank borrowings include amounts repayable after more than five years of £95,633. The bank borrowings are secured by way of a fixed and floating charge over the company's property and undertakings.

10.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	250,961		202,065


	Obligations under finance leases are secured against the assets which they finance.

11.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	94,295	76,240
Total	94,295	76,240

12.	Operating lease commitments
	At the year end, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £518,724 (2024 – £573,674).

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	4		1,493		1,866
Tangible assets	5		872,190		529,340
			873,683		531,206
Current assets
Debtors	6	107,215		59,641
Cash at bank and on hand		1,192,095		816,882
		1,299,310		876,523
Creditors amounts falling due within one year	7	(748,892)		(551,584)
Net current assets (liabilities)			550,418		324,939
Total assets less current liabilities			1,424,101		856,145
Creditors amounts falling due after one year	8		(631,808)		(380,372)
Provisions for liabilities	11		(94,295)		(76,240)
Net assets			697,998		399,533
Capital and reserves
Called up share capital			100		100
Profit and loss account			697,898		399,433
Shareholders' funds			697,998		399,533