REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
MERLIN SALUS PAM LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
MERLIN SALUS PAM LTD |
MERLIN SALUS PAM LTD (REGISTERED NUMBER: SC512567) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MERLIN SALUS PAM LTD |
COMPANY INFORMATION |
for the year ended 30 April 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Business Advisors, Accountants and |
Statutory Auditors |
Q Court |
3 Quality Street |
Edinburgh |
EH4 5BP |
MERLIN SALUS PAM LTD (REGISTERED NUMBER: SC512567) |
BALANCE SHEET |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
MERLIN SALUS PAM LTD (REGISTERED NUMBER: SC512567) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Merlin Salus PAM Ltd is a |
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. |
Going concern assessment |
As part of our annual audit, the directors are tasked to look specifically at matters relating to the future of the business and any issues that might impinge on it as a going concern. We are required to carry out such an assessment for each of the individual companies in the group and also as a consolidated business. |
We have examined the marketplace and the service provision that we offer to our clients across the four companies in the group and can identify no serious threats to the business as a going concern. |
The directors have endeavored to anticipate issues that might put the individual businesses at increased risk. Through this strategic market review we hope to have identified most of these threats and where possible implemented remedial action to avoid or mitigate them. While it is a given that anticipating each and every threat that a business might encounter would be impossible, we do believe that through this process of risk assessment and mitigation, we now have a robust but flexible business structure within the group putting us is in a strong position to meet the challenges of tomorrows business. |
The board have applied the same principle of risk assessment and mitigation to each company in the group. To this end, management has been tasked to provide contingencies covering issues of supply, market collapse, business relocation, and staff access. A copy of these contingency plans will be retained as an Emergency Response File and held at each site within the group. The file will be updated no less than annually and will be signed off by the board of directors prior to each AGM. |
SIGNIFICANT JUDGEMENTS AND ESTIMATES |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
There are no significant judgements or estimates which are expected to materially affect the reported financial position. |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
GOODWILL |
Goodwill, being the amount paid in connection with the acquisition of a business during the year ended 30 April 2016, is being amortised evenly over its estimated useful life of ten years. |
INTANGIBLE ASSETS |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
MERLIN SALUS PAM LTD (REGISTERED NUMBER: SC512567) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
TANGIBLE FIXED ASSETS |
Plant and machinery etc | - |
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 balance sheet date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
MERLIN SALUS PAM LTD (REGISTERED NUMBER: SC512567) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
AMORTISATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
MERLIN SALUS PAM LTD (REGISTERED NUMBER: SC512567) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
10. | ULTIMATE CONTROLLING PARTY |
The immediate parent undertaking is MerlinVet-Cel Limited, a company registered in Scotland, and the ultimate parent undertaking is Merlin Vet Export Limited, a company registered in Scotland. |
The ultimate controlling party is D W Taylor , BVM&S, MRCVS. |