Registration number: 08018357

Southill Vets Limited

Contents

Abridged Balance Sheet	1 to 2
Notes to the Unaudited Abridged Financial Statements	3 to 7

Southill Vets Limited

(Registration number: 08018357)
Abridged Balance Sheet as at 30 November 2025

	Note	2025 £	As restated 2024 £
Fixed assets
Intangible assets	4	353,176	364,388
Tangible assets	5	537,758	501,437
		890,934	865,825
Current assets
Stocks		117,832	120,345
Debtors		134,216	171,217
Cash at bank and in hand		179,670	231,885
		431,718	523,447
Creditors: Amounts falling due within one year	6	(456,344)	(446,838)
Net current (liabilities)/assets		(24,626)	76,609
Total assets less current liabilities		866,308	942,434
Creditors: Amounts falling due after more than one year	7	(383,834)	(457,105)
Provisions for liabilities		(39,499)	(40,446)
Net assets		442,975	444,883
Capital and reserves
Called up share capital		300	300
Capital redemption reserve		300	300
Profit and loss account		442,375	444,283
Total equity		442,975	444,883

Southill Vets Limited

(Registration number: 08018357)
Abridged Balance Sheet as at 30 November 2025

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 15 July 2026 and signed on its behalf by:
 

Mr B O'Brien

Director

Miss V E Sands

Director

Southill Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Surgery
Balsam Fields
Wincanton
Somerset
BA9 9HE

These financial statements were authorised for issue by the Board on 15 July 2026.

2	Accounting policies

Statement of compliance

These abridged financial statements were 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

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The accounts have been prepared on a going concern basis. Of the companies liabilities, an amount is owed to the directors who have agreed to continue to support the company and not demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Prior period errors

Incorrect freehold property additions included within the accounts

	Relating to the current period disclosed in these financial statements £	Relating to the prior period disclosed in these financial statements £	Relating to periods before the prior period disclosed in these financial statements £
Freehold property additions overstated	-	57,779	-
Property repairs understated	-	57,779	-
Corporation tax provision overstated	-	6,993	-
Corporation tax charge overstated	-	6,993	-

Tax

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 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.

Page 3

Southill Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

Asset class	Depreciation method and rate
Land and buildings	10% Straight line
Fixtures and fittings	25% Straight Line
Motor vehicles	25% Reducing balance
Plant and machinery	25% Reducing balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

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:

Asset class	Amortisation method and rate
Goodwill	2.5% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2024 - 36).

Southill Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

4	Intangible assets

	Total £
Cost or valuation
At 1 December 2024	448,478
At 30 November 2025	448,478
Amortisation
At 1 December 2024	84,090
Amortisation charge	11,212
At 30 November 2025	95,302
Carrying amount
At 30 November 2025	353,176
At 30 November 2024	364,388

Southill Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

5	Tangible assets

	Total £
Cost or valuation
At 1 December 2024	730,435
Additions	94,562
Disposals	(51,945)
At 30 November 2025	773,052
Depreciation
At 1 December 2024	228,998
Charge for the year	36,327
Eliminated on disposal	(30,031)
At 30 November 2025	235,294
Carrying amount
At 30 November 2025	537,758
At 30 November 2024	501,437

6	Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £128,700 (2024 - £135,000).

7	Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £383,832 (2024 - £457,104).

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £22,401 (2024 - £28,001).

Southill Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2025

9	Related party transactions

Advances to directors

Miss V E Sands During the period Miss V E Sands went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £23,088 (2024 - £26,510). At the year end the amount outstanding from Miss V E Sands was £Nil (2024 - £Nil). Interest has been charged at the approved HMRC interest rate.