REGISTERED NUMBER: 11233435 (England and Wales)

Giles & Parsons Farm Vets Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J G Parsons

G Giles

REGISTERED OFFICE:

West Roose

Otterham

Camelford

Cornwall

PL32 9YP

REGISTERED NUMBER:

11233435 (England and Wales)

ACCOUNTANTS:

ATC Advisors

Chartered Accountants

Unit 2 Dunheved Court

Pennygillam Way

LAUNCESTON

Cornwall

PL15 7ED

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

165,784

114,022

Investments

6

10,000

10,000

175,784

124,022

CURRENT ASSETS

Stocks

51,343

39,779

Debtors

7

509,070

445,580

Cash at bank

388,092

354,549

948,505

839,908

CREDITORS

Amounts falling due within one year

8

227,353

257,222

NET CURRENT ASSETS

721,152

582,686

TOTAL ASSETS LESS CURRENT LIABILITIES

896,936

706,708

PROVISIONS FOR LIABILITIES

41,446

28,505

NET ASSETS

855,490

678,203

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

855,390

678,103

855,490

678,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2026 and were signed on its behalf by:

J G Parsons - Director

G Giles - Director

1.	STATUTORY INFORMATION

Giles & Parsons Farm Vets Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Holiday pay accrual

For both the current and the previous year the amount of the unpaid holiday pay has not been provided for. This is a departure from the normal accounting policy as it is deemed immaterial to the understanding of the accounts and the cost of obtaining the information outweighs any benefits obtained.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2025 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

and 31 March 2026

2,032

AMORTISATION

At 1 April 2025

and 31 March 2026

2,032

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2025

73,718

7,345

173,195

254,258

Additions

12,079

9,125

89,097

110,301

Disposals

-

-

(21,636

)

(21,636

)

At 31 March 2026

85,797

16,470

240,656

342,923

DEPRECIATION

At 1 April 2025

47,028

4,164

89,044

140,236

Charge for year

7,541

2,508

33,491

43,540

Eliminated on disposal

-

-

(6,637

)

(6,637

)

At 31 March 2026

54,569

6,672

115,898

177,139

NET BOOK VALUE

At 31 March 2026

31,228

9,798

124,758

165,784

At 31 March 2025

26,690

3,181

84,151

114,022

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2025

and 31 March 2026

10,000

NET BOOK VALUE

At 31 March 2026

10,000

At 31 March 2025

10,000

Fixed asset investments are valued at £10,000 as the directors believe this is not materially different to its original cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

295,053

262,296

Other debtors

214,017

183,284

509,070

445,580

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

70,646

75,360

Taxation and social security

154,281

174,789

Other creditors

2,426

7,073

227,353

257,222

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

12,792

12,792

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

£

J G Parsons

Balance outstanding at start of year

(4,761

)

-

Amounts advanced

74,650

51,375

Amounts repaid

(54,080

)

(56,136

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,809

(4,761

)

G Giles

Balance outstanding at start of year

27,876

-

Amounts advanced

81,871

110,784

Amounts repaid

(80,000

)

(82,908

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

29,747

27,876

Interest was charged on director loans at the HMRC beneficial loan rate of 3.75%.

The overdrawn directors loan balances were repaid by way of dividend within 9 months of the year end.