General Information
Live Well Vets Ltd is a private company, limited by shares, registered in England and Wales, registration number 12249332, registration address 26 Warren Drive, Caerphilly, CF83 1HQ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the companys activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Operating lease rentals
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
15 Reducing Balance
|
| Fixtures and Fittings |
15 Reducing Balance
|
| Computer Equipment |
33 Reducing Balance
|
| Improvements to property |
10% Straight Line |
Assets on finance lease and hire purchase
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees Average number of employees during the period was 20 (2024 : 18). |
| 3. |
Indebtedness
Of the secured bank loan of £333,515 falling due after more than one year, £265,698 is repayable by instalments after more than five years.
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Improvements to property |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 November 2024 |
238,556 |
|
20,233 |
|
6,466 |
|
227,481 |
|
492,736 |
| Additions |
1,785 |
|
- |
|
293 |
|
1,709 |
|
3,787 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 October 2025 |
240,341 |
|
20,233 |
|
6,759 |
|
229,190 |
|
496,523 |
| Depreciation |
| At 01 November 2024 |
43,713 |
|
3,635 |
|
3,563 |
|
21,865 |
|
72,776 |
| Charge for year |
29,313 |
|
2,490 |
|
1,045 |
|
22,868 |
|
55,716 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 October 2025 |
73,026 |
|
6,125 |
|
4,608 |
|
44,733 |
|
128,492 |
| Net book values |
| Closing balance as at 31 October 2025 |
167,315 |
|
14,108 |
|
2,151 |
|
184,457 |
|
368,031 |
| Opening balance as at 01 November 2024 |
194,788 |
|
16,598 |
|
2,903 |
|
205,616 |
|
419,905 |
|
| 5. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
19,000 |
|
19,000 |
|
19,000 |
|
19,000 |
|
| 6. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
62,499 |
|
55,952 |
| Prepayments & Accrued Income |
4,187 |
|
4,819 |
| Other Debtors |
6,000 |
|
6,000 |
| Directors' Current Accounts |
15,976 |
|
0 |
|
88,662 |
|
66,771 |
|
| 7. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
81,195 |
|
94,877 |
| Bank Loans & Overdrafts (Secured) |
14,144 |
|
30,663 |
| PAYE & Social Security |
34,102 |
|
44,756 |
| Accrued Expenses |
16,200 |
|
601 |
| Other Creditors |
8,348 |
|
0 |
| Obligations under HP/Financial Leases |
0 |
|
35,029 |
| Directors' Current Accounts |
0 |
|
26,165 |
| VAT |
38,401 |
|
31,219 |
|
192,390 |
|
263,310 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts (secured) |
333,515 |
|
253,359 |
| Other Creditors |
96,652 |
|
0 |
| Obligations Under HP/Financial Leases |
0 |
|
102,104 |
|
430,167 |
|
355,463 |
|
| 9. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Charged to Profit & Loss |
2,624 |
|
0 |
|
2,624 |
|
0 |
Deferred Tax
| Description |
|
Current Year
£ |
| Deferred tax liability: accelerated capital allowances |
|
46,277 |
| Deferred tax asset: tax losses |
|
(43,653) |
| Deferred tax liability |
|
2,624 |
|
| 10. |
Advances and Credits
G Elliott Director's loan accruing interest at 3.75% per annum | Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| G Elliott | 0 | | 15,757 | | 219 | | 0 | | 0 | | 0 | | 15,976 | | 0 | | 15,757 | | 219 | | 0 | | 0 | | 0 | | 15,976 |
| Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| G Elliott | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 | | 0 |
|
3
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