| SORE PAWS VETERINARY CLINIC LTD |
| Registered number: |
09145870 |
| Balance Sheet |
| as at 30 June 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
254,136 |
|
|
91,271 |
|
| Current assets |
| Stocks |
|
|
87,000 |
|
|
55,000 |
| Debtors |
5 |
|
390,880 |
|
|
308,176 |
| Cash at bank and in hand |
|
|
27,236 |
|
|
350,847 |
|
|
|
505,116 |
|
|
714,023 |
|
| Creditors: amounts falling due within one year |
6 |
|
(365,389) |
|
|
(373,920) |
|
| Net current assets |
|
|
|
139,727 |
|
|
340,103 |
|
| Total assets less current liabilities |
|
|
|
393,863 |
|
|
431,374 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(326,975) |
|
|
(411,329) |
|
| Provisions for liabilities |
|
|
|
(21,382) |
|
|
(19,980) |
|
|
| Net assets |
|
|
|
45,506 |
|
|
65 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
45,505 |
|
|
64 |
|
| Shareholders' funds |
|
|
|
45,506 |
|
|
65 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr A Holmes |
| Director |
| Approved by the board on 10 December 2025 |
|
| SORE PAWS VETERINARY CLINIC LTD |
| Notes to the Accounts |
| for the year ended 30 June 2025 |
|
|
| 1 |
Accounting policies |
|
|
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). |
|
|
Turnover |
|
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Longhold leasehold |
2% straight line |
|
Computer equipment |
25% reducing balance |
|
Plant and machinery |
20% reducing balance |
|
Fixtures, fittings, tools and equipment |
15% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
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. |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pension costs and other post-retirement benefits |
|
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
17 |
|
17 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 July 2024 |
90,000 |
|
At 30 June 2025 |
90,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 July 2024 |
90,000 |
|
At 30 June 2025 |
90,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
Longhold leasehold |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2024 |
13,512 |
|
132,160 |
|
13,321 |
|
158,993 |
|
Additions |
158,926 |
|
30,942 |
|
- |
|
189,868 |
|
Disposals |
- |
|
(23,797) |
|
- |
|
(23,797) |
|
At 30 June 2025 |
172,438 |
|
139,305 |
|
13,321 |
|
325,064 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2024 |
- |
|
55,570 |
|
12,152 |
|
67,722 |
|
Charge for the year |
3,449 |
|
16,703 |
|
292 |
|
20,444 |
|
On disposals |
- |
|
(17,238) |
|
- |
|
(17,238) |
|
At 30 June 2025 |
3,449 |
|
55,035 |
|
12,444 |
|
70,928 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2025 |
168,989 |
|
84,270 |
|
877 |
|
254,136 |
|
At 30 June 2024 |
13,512 |
|
76,590 |
|
1,169 |
|
91,271 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
64,846 |
|
59,006 |
|
HMRC - ACT |
|
|
|
|
51,487 |
|
71,764 |
|
Loan - Blue Star Veterinary Clinic Ltd |
|
15,394 |
|
13,805 |
|
Directors loan accounts |
|
|
|
|
231,294 |
|
159,449 |
|
Supplier rebates |
|
|
|
|
23,854 |
|
Other debtors |
4,005 |
|
4,152 |
|
|
|
|
|
|
390,880 |
|
308,176 |
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
97,156 |
|
187,021 |
|
Obligations under finance lease and hire purchase contracts |
4,154 |
|
4,341 |
|
Trade creditors |
162,647 |
|
127,717 |
|
Taxation and social security costs |
101,431 |
|
54,841 |
|
|
|
|
|
|
365,389 |
|
373,920 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
305,627 |
|
359,669 |
|
Obligations under finance lease and hire purchase contracts |
4,154 |
|
8,682 |
|
Loan - Gold Star Veterinary Clinic Ltd |
17,194 |
|
42,978 |
|
|
|
|
|
|
326,975 |
|
411,329 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
The company has entered into financing arrangements with entities under common control.Related party transactions have been disclosed in accordance with FRS 102 Section 33.
All related party balances are unsecured and have no fixed terms of repayment. Interest is charged on the year-end balance at the Bank of England base rate, which for the year ended 30 June 2025 was 4.25%.
Loan to Blue Star Veterinary Clinic Ltd
At 30 June 2025 a loan to Blue Star Veterinary Clinic Ltd was outstanding of £15,394. The loan is unsecured, has no fixed terms of repayment and is repayable on demand. Interest is charged on the year-end balance at the Bank of England base rate (4.25% in the year).
Dr SE Holmes and Mr A Holmes jointly own 100% of the shares in Blue Star Veterinary Clinic Ltd and are both directors of Blue Star Veterinary Clinic Ltd and the company. Blue Star Veterinary Clinic Ltd is therefore a related party.
Loan from Gold Star Veterinary Clinic Ltd
At 30 June 2025 a loan from Gold Star Veterinary Clinic Ltd was outstanding of £17,194. The loan is unsecured, has no fixed terms of repayment and is repayable on demand. Interest is charged on the year-end balance at the Bank of England base rate (4.25% in the year).
Dr SE Holmes and Mr A Holmes jointly own 100% of the shares in Gold Star Veterinary Clinic Ltd and are both directors of Gold Star Veterinary Clinic Ltd and the company. Gold Star Veterinary Clinic Ltd is therefore a related party.
No guarantees were given or received in respect of these arrangements. No impairment has been recognised against the amount due from Blue Star Veterinary Clinic Ltd as at 30 June 2025.
Intra-group premises cost recharges – Gold Star Veterinary Clinic Ltd
Gold Star Veterinary Clinic Ltd holds the leasehold interest for one of the trading premises in its legal name. The company operates from this premises (Shop Unit 5).
During the year, Gold Star Veterinary Clinic Ltd recharged to the company £26,355 (gross) in respect of all costs relating to the premises, including:
- rent payable under the lease
- business rates
- utilities and other occupancy costs (including light and heat/electricity/gas and water).
These costs are recharged on a full cost-recovery basis and Gold Star Veterinary Clinic Ltd does not retain a profit margin on the recharges. The arrangement is ongoing and reflects that the lease is held in Gold Star Veterinary Clinic Ltd's name while the premises are used by the company for its trade.
Amounts recharged are not settled at the point of recharge; instead, they are recorded through the intercompany loan account between Gold Star Veterinary Clinic Ltd and the company. Cash payments are then made on an ad-hoc basis to ensure Gold Star Veterinary Clinic Ltd has sufficient funds to meet supplier obligations as they fall due. |
|
|
| 9 |
Other information |
|
|
SORE PAWS VETERINARY CLINIC LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 2a Carers Way |
|
Cobblers Hall |
|
Newton Aycliffe |
|
County Durham |
|
DL5 4SE |