General Information
NI Equine Dental Vet Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI704188, registration address 7 Craigstown Road , Moorfields, Ballymena, BT42 3DF.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small
companies regime. The disclosure requirements of section 1A of FRS 102 have been applied
other than where additional disclosure is required to show a true and fair view.
The accounts have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the
company. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern basis
The Company made a profit during the year ended 30 November 2025 and, at that date, the Company's assets exceeded its liabilities.
Although the Company had net current liabilities of £26,047 at the balance sheet date, this is largely due to the balance owed to the director of £37,676, which is unsecured, interest-free, and which the director has confirmed she does not intend to call for repayment within twelve months of the date of approval of these financial statements; on this basis, the director considers the going concern basis of preparation remains appropriate.
The director believes that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Statement of cash flows
The company has taken advantage of the exemption from the requirements of FRS 102 to
present a Statement of Cash Flows on the grounds that it is a small sized company.
Judgements and key sources of uncertainty
Judgements and key sources of estimation uncertainty are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There were no critical judgements used in the application of accounting policies, and the
preparation of the financial statements. There were no critical accounting estimates or
assumptions used in the application of accounting policies and the preparation of the financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the ordinary course of business, excluding VAT and other sales-related taxes. The fair value of consideration reflects any trade discounts, settlement discounts, or volume-based rebates.
Revenue from services is recognised when:
- The service has been substantially performed or delivered to the customer;
- The amount of revenue can be measured reliably;
- It is probable that the economic benefits associated with the transaction will flow to the entity;
- Costs incurred or to be incurred in delivering the service can be measured reliably.
Where services are provided over time, revenue is recognised in line with the stage of completion at the reporting date, based on either output methods (e.g. milestones achieved) or input methods (e.g. time spent or resources consumed), depending on which most accurately reflects performance.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Cost includes expenditure that is directly attributable to the acquisition of the asset and bringing it into working condition for its intended use.
Depreciation is provided on all tangible fixed assets to write off the cost, less estimated residual value, in equal annual instalments over their expected useful lives, as follows: Freehold building (Shed) - 5% Motor vehicles - 20% Medical and dental equipment - 20% The useful lives and residual values of assets are reviewed annually, and adjusted if appropriate. Assets under construction are not depreciated until they are brought into use.
| Land and Buildings |
5% Straight Line |
| Motor Vehicles |
20% Straight Line
|
| Dental Equipment |
20% Straight Line
|
Stocks
Stocks are stated at the lower of cost and net realisable value. Cost includes direct purchase costs and any attributable overheads incurred in bringing the items to their present location and condition. Stocks comprise consumables and medical supplies held for use in the provision of services and are expensed to the profit and loss account upon consumption.
Provision is made for obsolete, expired or slow-moving items where appropriate to ensure that stock is not carried at a value higher than its expected recoverable amount.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2024 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Motor Vehicles |
|
Dental Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 December 2024 |
- |
|
- |
|
7,327 |
|
7,327 |
| Additions |
21,614 |
|
18,228 |
|
44,597 |
|
84,439 |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 30 November 2025 |
21,614 |
|
18,228 |
|
51,924 |
|
91,766 |
| Depreciation |
| At 01 December 2024 |
- |
|
- |
|
- |
|
- |
| Charge for year |
439 |
|
3,038 |
|
9,101 |
|
12,578 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 30 November 2025 |
439 |
|
3,038 |
|
9,101 |
|
12,578 |
| Net book values |
| Closing balance as at 30 November 2025 |
21,175 |
|
15,190 |
|
42,823 |
|
79,188 |
| Opening balance as at 01 December 2024 |
- |
|
- |
|
5,798 |
|
5,798 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
2,805 |
|
1,747 |
|
2,805 |
|
1,747 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| VAT |
4,188 |
|
0 |
|
4,188 |
|
0 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Corporation Tax |
0 |
|
1,335 |
| Accrued Expenses |
1,000 |
|
1,000 |
| Other Creditors |
9,376 |
|
1,685 |
| Directors' Current Accounts |
37,675 |
|
11,431 |
| VAT |
0 |
|
728 |
|
48,051 |
|
16,179 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Other Creditors |
23,579 |
|
0 |
|
23,579 |
|
0 |
|
| 8. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
1
Class A share of £1.00 each |
1 |
|
1 |
|
1 |
|
1 |
|
| 9. |
General Reserves
|
2025
£ |
|
2024
£ |
| General Reserve b/fwd |
4,071 |
|
0 |
|
4,071 |
|
0 |
|
| 10. |
Related Party Transactions
During the year, the director, Sarah Caroline Smyth, advanced funds to the company. At 30 November 2025, the balance due to the director included within creditors was £37,676.09 (2024: £11,431), of which £37,675 falling due within one year. The balance is unsecured, interest-free, and not repayable on demand
|
| 11. |
Ultimate Controlling Party
The company's ultimate controlling party is Sarah Smyth by virtue of his ownership of 100% of the issued share capital in the company.
Sarah Smyth is the sole director and shareholder, holding one ordinary share as at the balance sheet date.
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3
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