Company Registration number:
Mile House Vets Limited
Financial Statements
for the
Year Ended 31 August 2025
Mile House Vets Limited
Contents
Pages
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Balance sheet |
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Notes to the financial statements |
Mile House Vets Limited
Balance Sheet as at 31 August 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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Mile House Vets Limited
Balance Sheet as at 31 August 2025 (continued)
For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Company registration number: 09170406
Approved and authorised by the
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Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025
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GENERAL INFORMATION |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the historical cost basis and in accordance with applicable accounting standards.
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. |
Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025 (continued)
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ACCOUNTING POLICIES (continued) |
Key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:
Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025 (continued)
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ACCOUNTING POLICIES (continued) |
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Asset class |
Depreciation method and rate |
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Leasehold property improvements |
25% reducing balance |
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Motor vehicles |
25% reducing balance |
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Plant and machinery |
20% reducing balance |
Goodwill
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. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
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:
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Asset class |
Amortisation method and rate |
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Goodwill |
10% straight line |
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the
risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the
lease and the present value of the minimum lease payments. These assets are depreciated on a
straight-line basis over the shorter of the useful life of the asset and the lease term. The
corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction
of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance
of the liability.
Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025 (continued)
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ACCOUNTING POLICIES (continued) |
Financial instruments
Classification
contractual provisions of the instrument.
Recognition and measurement
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the
reversal does not result in a carrying amount of the financial asset that exceeds what the carrying
amount would have been had the impairment not previously been recognised.
Impairment
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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STAFF NUMBERS |
The average number of persons employed by the company (including the director) during the year, was
Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025 (continued)
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INTANGIBLE ASSETS |
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Goodwill |
Total |
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Cost or valuation |
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At 1 September 2024 |
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At 31 August 2025 |
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Amortisation |
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At 1 September 2024 |
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At 31 August 2025 |
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Carrying amount |
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At 31 August 2025 |
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Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025 (continued)
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TANGIBLE ASSETS |
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Leasehold property improvements |
Motor vehicles |
Plant and Machinery |
Total |
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Cost or valuation |
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At 1 September 2024 |
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Additions |
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Disposals |
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At 31 August 2025 |
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Depreciation |
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At 1 September 2024 |
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Charge for the year |
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Eliminated on disposal |
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At 31 August 2025 |
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Carrying amount |
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At 31 August 2025 |
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At 31 August 2024 |
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STOCKS |
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2025 |
2024 |
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Stocks |
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DEBTORS |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025 (continued)
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RELATED PARTY TRANSACTIONS |
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Transactions with the director |
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2025 |
At 1 September 2024 |
Advances to director |
Repayments by director |
At 31 August 2025 |
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Mr E G Bulman |
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Directors loan account |
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( |
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2024 |
At 1 September 2023 |
Advances to director |
Repayments by director |
At 31 August 2024 |
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Mr E G Bulman |
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Directors loan account |
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( |
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Mile House Vets Limited
Notes to the financial statements for the Year Ended 31 August 2025 (continued)
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CREDITORS |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include net obligations under hire purchase contracts which are secured of £15,345 (2024 - £9,079).
Creditors include bank loans and overdrafts which are secured of £15,484 (2024 - £73,844).
Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Creditors include net obligations under hire purchase contracts which are secured of £22,970 (2024 - £4,730).
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |