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Registration number: 16560884 (England and Wales)

Prepared for the registrar
VetThing Limited
(Formerly AX VI Ani Holdings UK Limited)
Annual Report and Financial Statements
for the Period from 3 July 2025 to 30 September 2025

VetThing Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 6

VetThing Limited

Company Information

Directors | Dr B A Hanning M Koefoed P Thomsen J B Young

Registered office | A1 Methuen Park Chippenham SN14 0GT

Auditors | Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

VetThing Limited

(Registration number: 16560884)
Balance Sheet as at 30 September 2025

| Note | 2025 £
Fixed assets |  |
Tangible assets | 4 | 8,062
Current assets |  |
Debtors | 5 | 12,951
Creditors: Amounts falling due within one year | 6 | (162,225)
Net current liabilities |  | (149,274)
Net liabilities |  | (141,212)
Capital and reserves |  |
Called up share capital |  | 1,000
Profit and loss account |  | (142,212)
Shareholders' deficit |  | (141,212)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 August 2026 and signed on its behalf by:

J B Young
Director

VetThing Limited

Notes to the Financial Statements for the Period from 3 July 2025 to 30 September 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The company was formerly known as AX VI Ani Holdings UK Limited.

The address of its registered office is:
A1 Methuen Park
Chippenham
SN14 0GT

| 2 | 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Name of parent of group

These financial statements are consolidated in the financial statements of Vetopia III ApS.

The financial statements of Vetopia III ApS may be obtained from the company's registered office.

Disclosure of long or short period

The financial statements cover a period of 90 days. This is to bring the year end in line with that of the rest of the group.

Going concern

Notwithstanding the net liability position shown on the balance sheet, the financial statements have been prepared on the going concern basis. The directors have considered the forecast cash flows and the cash requirements of the business in their assessment of going concern. As a result of this assessment it was concluded that the cash requirements of the business for the 12 months from signing will be met through a combination of operational cash flows and intergroup loans and thus the business is deemed to operate as a going concern.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

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, over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Computer equipment | 33% straight line

VetThing Limited

Notes to the Financial Statements for the Period from 3 July 2025 to 30 September 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

VetThing Limited

Notes to the Financial Statements for the Period from 3 July 2025 to 30 September 2025

Financial instruments (continued)
Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the period, was as follows:

| 3 July 2025 to 30 September 2025 No.
Average number of employees | 3

| 4 | Tangible assets

| Furniture, fittings and equipment £
Cost
Additions and at 30 September 2025 | 8,103
Depreciation
Charge for the period and at 30 September 2025 | 41
Carrying amount
At 30 September 2025 | 8,062

VetThing Limited

Notes to the Financial Statements for the Period from 3 July 2025 to 30 September 2025

| 5 | Debtors

| 2025 £
Other debtors | 12,951

| 6 | Creditors

| 2025 £
Due within one year |
Trade creditors | 36,614
Social security and other taxes | 3,357
Other creditors | 115,768
Accruals | 6,486
| 162,225

| 7 | Parent and ultimate parent undertaking

The company's immediate parent is Vetopia ApS, incorporated in Denmark.
The ultimate parent is Vetopia II ApS, incorporated in Denmark.

| 8 | Non adjusting events after the financial period

Following the year end and up to the date of this report, 8 practices have been acquired for a total consideration of £51,353,982. The acquisitions comprised both share purchases and trade and asset purchases and have been financed through a combination of retained cash and new loans.

| 9 | Disclosure under Section 444(5B) CA 2006 relating to the independent auditor's report

As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. Accordingly, the Independent Auditors’ Report has also been omitted.
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 7 August 2026 was Simon Worsley, who signed for and on behalf of Hazlewoods LLP.