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REGISTERED NUMBER: SC512567 (Scotland)









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: C M Bainton
Ms N M Kinghorn
R Anderson
D W Taylor , BVM&S, MRCVS





REGISTERED OFFICE: Q Court
3 Quality Street
Edinburgh
EH4 5BP





REGISTERED NUMBER: SC512567 (Scotland)





AUDITORS: Haines Watts Scotland
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 8,012 11,573
Tangible assets 5 139 174
8,151 11,747

CURRENT ASSETS
Stocks 5,541 1,456
Debtors 6 20,451 12,054
Cash at bank 68,891 60,688
94,883 74,198
CREDITORS
Amounts falling due within one year 7 26,592 21,102
NET CURRENT ASSETS 68,291 53,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,442

64,843

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 76,441 64,842
SHAREHOLDERS' FUNDS 76,442 64,843

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 11 October 2023 and were signed on its behalf by:





C M Bainton - Director


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 private company, limited by shares , registered in Scotland. 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% per annum 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 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 1 (2022 - 1 ) .

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 35,605
AMORTISATION
At 1 May 2022 24,032
Charge for year 3,561
At 30 April 2023 27,593
NET BOOK VALUE
At 30 April 2023 8,012
At 30 April 2022 11,573

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2022
and 30 April 2023 832
DEPRECIATION
At 1 May 2022 658
Charge for year 35
At 30 April 2023 693
NET BOOK VALUE
At 30 April 2023 139
At 30 April 2022 174

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,767 11,430
Other debtors 684 624
20,451 12,054

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 6,135 2,742
Amounts owed to group undertakings 5,903 5,903
Taxation and social security 6,142 6,567
Other creditors 8,412 5,890
26,592 21,102

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Craig Hunter (Senior Statutory Auditor)
for and on behalf of Haines Watts Scotland

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.