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Registered number: 07770179
Brain Partners Equine Vets Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2026
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—8
Page 1
Statement of Financial Position
Registered number: 07770179
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 327,553 381,964
Investment Properties 5 550,000 550,000
Investments 6 1,963,915 1,797,951
2,841,468 2,729,915
CURRENT ASSETS
Stocks 49,068 42,480
Debtors 7 1,241,628 1,042,534
Cash at bank and in hand 741,874 710,524
2,032,570 1,795,538
Creditors: Amounts Falling Due Within One Year 8 (317,018 ) (257,336 )
NET CURRENT ASSETS (LIABILITIES) 1,715,552 1,538,202
TOTAL ASSETS LESS CURRENT LIABILITIES 4,557,020 4,268,117
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (58,617 ) (57,843 )
NET ASSETS 4,498,403 4,210,274
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement 4,498,303 4,210,174
SHAREHOLDERS' FUNDS 4,498,403 4,210,274
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For the year ending 31 March 2026 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Income Statement.
On behalf of the board
Benjamin Richard Brain
Director
26 August 2026
The notes on pages 3 to 8 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Brain Partners Equine Vets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07770179 . The registered office is Dikler Farm Fosseway, Bourton-On-The-Water, Cheltenham, Glocuestershire, GL54 2EY.
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
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, 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:
Freehold 0-20% reducing balance
Plant & Machinery 15-25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.5. Investment Properties
Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the directors, on an open market value for existing use basis
Changes in fair value are recognised in the income statement.
2.6. 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.
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2.7. Financial Instruments
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. 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.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.11. Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
2.12. Share capital
Ordinary shares are classified as equity.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2025: 9)
8 9
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 April 2025 595,773 384,866 84,489 14,469
As at 31 March 2026 595,773 384,866 84,489 14,469
Depreciation
As at 1 April 2025 381,010 264,908 41,006 11,256
Provided during the period 21,770 21,204 10,871 483
As at 31 March 2026 402,780 286,112 51,877 11,739
Net Book Value
As at 31 March 2026 192,993 98,754 32,612 2,730
As at 1 April 2025 214,763 119,958 43,483 3,213
Computer Equipment Total
£ £
Cost or Valuation
As at 1 April 2025 1,983 1,081,580
As at 31 March 2026 1,983 1,081,580
Depreciation
As at 1 April 2025 1,436 699,616
Provided during the period 83 54,411
As at 31 March 2026 1,519 754,027
Net Book Value
As at 31 March 2026 464 327,553
As at 1 April 2025 547 381,964
5. Investment Property
2026
£
Fair Value
As at 1 April 2025 and 31 March 2026 550,000
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6. Investments
Listed Unlisted Total
£ £ £
Cost or Valuation
As at 1 April 2025 1,692,951 105,000 1,797,951
Additions 130,315 35,649 165,964
As at 31 March 2026 1,823,266 140,649 1,963,915
Provision
As at 1 April 2025 - - -
As at 31 March 2026 - - -
Net Book Value
As at 31 March 2026 1,823,266 140,649 1,963,915
As at 1 April 2025 1,692,951 105,000 1,797,951
7. Debtors
2026 2025
£ £
Due within one year
Trade debtors 285,463 216,313
Prepayments and accrued income 38,125 13,514
Other debtors 210,625 105,589
Corporation tax recoverable assets 167,059 167,059
Directors' loan accounts 540,356 522,273
1,241,628 1,024,748
Due after more than one year
Other debtors - 17,786
1,241,628 1,042,534
8. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Trade creditors 42,274 32,285
Bank loans and overdrafts 686 920
Other creditors 13,125 22,042
Taxation and social security 260,933 202,089
317,018 257,336
There are no amounts included above in respect of which any security has been given by the small entity.
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9. Deferred Taxation
Deferred tax has been calculated using a rate of 25% (2025: 25%). At 31 March 2026, deferred tax liabilities primarily comprised timing differences between taxable profits and total comprehensive income as stated in the financial statements.
The provision for deferred tax is made up as follows:
2026 2025
£ £
Other timing differences 58,617 57,843
10. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 100 100
100 ordinary shares of £1.00 each.
11. Pension Commitments
The company operates a defined contribution pension scheme for the directors amd employees. The assets of the scheme are held separately from those of the company in an independently administered fund. 
At 31 March 2026 unpaid contributions of £869 (2025: £884) were due to the fund and are included in Other Creditors.
12. Dividends
2026 2025
£ £
On equity shares:
Interim dividend paid 240,000 240,000
The directors do not recommend the payment of a final dividend in respect of the year ended 31 March 2026 (2025: £nil).
13. Reserves
Income Statement
£
As at 1 April 2025 4,210,174
Profit for the year and total comprehensive income 528,129
Dividends paid (240,000)
As at 31 March 2026 4,498,303
Profit and loss account
The profit and loss account of £4,210,174 (2025: £4,049,688) comprises of the following reserves:
Distributable reserve
£4,036,646 (2025: £3,884,853)
This reserve relates to the aggregate of distributable profits and losses generated to date.
Non-distributable reserve
£173,528 (2025: £164,835)
This reserve relates to the aggregate of fair value adjustments in respect of the investment properties and investment portfolio, less the deferred tax charges on those fair value movements.
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14. Related Party Transactions
During the year interim dividends of £240,000 were declared and paid to the directors (2025: £225,600).
Remuneration of £144,000 was paid to the directors during the year (2025: £144,000).
During the year the directors maintained a current account with the company. Advances of £19,990 (2025: £21,459) and repayments of £1,284 (2025: £28,155) were made. At 31 March 2026, the directors owed the company £522,274 (2025: £503,568). Interest is charged on overdrawn balances at the HMRC approved rates.
15. Controlling Party
The company is owned by private shareholders, none of whom own more than 50% of the issued share capital of the company. 
Accordingly there is no parent entity nor ultimate controlling party.
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