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Registered number: 15519573
Iris Vets Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2026
Richards Associates Limited
North Lodge Hawkesyard
Armitage Lane
Rugeley
Staffordshire
WS15 1PS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 15519573
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,476 1,290
2,476 1,290
CURRENT ASSETS
Stocks 5 1,834 1,656
Debtors 6 712 234
Cash at bank and in hand 25,239 9,282
27,785 11,172
Creditors: Amounts Falling Due Within One Year 7 (17,458 ) (13,177 )
NET CURRENT ASSETS (LIABILITIES) 10,327 (2,005 )
TOTAL ASSETS LESS CURRENT LIABILITIES 12,803 (715 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (470 ) -
NET ASSETS/(LIABILITIES) 12,333 (715 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 12,332 (716 )
SHAREHOLDERS' FUNDS 12,333 (715)
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For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Dr O Austerberry
Director
5 June 2026
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Iris Vets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15519573 . The registered office is 142 Thornes Lane, Wakefield, WF2 7RE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the
company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Turnover
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Computer Equipment 33%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The company only enters in to basic financial intrument transactions that result in the recognition of financial
aseets and liabilites like trade debtors and creditors, loans from banks and other third parties and loans to
related parties.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2025: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 March 2025 1,553 155 1,708
Additions 1,696 - 1,696
As at 28 February 2026 3,249 155 3,404
Depreciation
As at 1 March 2025 388 30 418
Provided during the period 459 51 510
As at 28 February 2026 847 81 928
Net Book Value
As at 28 February 2026 2,402 74 2,476
As at 1 March 2025 1,165 125 1,290
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5. Stocks
2026 2025
£ £
Stock 1,834 1,656
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors - 134
Prepayments and accrued income 712 -
Other debtors - 100
712 234
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Corporation tax 5,293 -
Other taxes and social security 102 -
Accruals and deferred income 900 840
Director's loan account 11,163 12,337
17,458 13,177
8. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 1 1
9. Ultimate Controlling Party
The company's ultimate controlling party is Olivia Kate Austerberry by virtue of her ownership of 100% of the issued share capital in the company.
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