Silverfin false 31/03/2023 01/04/2022 31/03/2023 Thomas Morrison 04/03/2016 07 March 2024 The principal activity of the Company during the financial year was the operation of a boarding kennels. SC528711 2023-03-31 SC528711 bus:Director1 2023-03-31 SC528711 2022-03-31 SC528711 core:CurrentFinancialInstruments 2023-03-31 SC528711 core:CurrentFinancialInstruments 2022-03-31 SC528711 core:Non-currentFinancialInstruments 2023-03-31 SC528711 core:Non-currentFinancialInstruments 2022-03-31 SC528711 core:ShareCapital 2023-03-31 SC528711 core:ShareCapital 2022-03-31 SC528711 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC528711 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC528711 core:LandBuildings 2022-03-31 SC528711 core:PlantMachinery 2022-03-31 SC528711 core:FurnitureFittings 2022-03-31 SC528711 core:OtherPropertyPlantEquipment 2022-03-31 SC528711 core:LandBuildings 2023-03-31 SC528711 core:PlantMachinery 2023-03-31 SC528711 core:FurnitureFittings 2023-03-31 SC528711 core:OtherPropertyPlantEquipment 2023-03-31 SC528711 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-03-31 SC528711 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2022-03-31 SC528711 core:CurrentFinancialInstruments core:Secured 2023-03-31 SC528711 core:MoreThanFiveYears 2023-03-31 SC528711 core:MoreThanFiveYears 2022-03-31 SC528711 2021-03-31 SC528711 bus:OrdinaryShareClass1 2023-03-31 SC528711 2022-04-01 2023-03-31 SC528711 bus:FullAccounts 2022-04-01 2023-03-31 SC528711 bus:SmallEntities 2022-04-01 2023-03-31 SC528711 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC528711 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC528711 bus:Director1 2022-04-01 2023-03-31 SC528711 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 SC528711 core:PlantMachinery 2022-04-01 2023-03-31 SC528711 core:FurnitureFittings 2022-04-01 2023-03-31 SC528711 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC528711 2021-04-01 2022-03-31 SC528711 core:LandBuildings 2022-04-01 2023-03-31 SC528711 core:LandBuildings 1 2022-04-01 2023-03-31 SC528711 core:PlantMachinery 1 2022-04-01 2023-03-31 SC528711 core:FurnitureFittings 1 2022-04-01 2023-03-31 SC528711 core:OtherPropertyPlantEquipment 1 2022-04-01 2023-03-31 SC528711 1 2022-04-01 2023-03-31 SC528711 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 SC528711 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC528711 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC528711 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC528711 (Scotland)

EASTER URRAY KENNELS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

EASTER URRAY KENNELS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

EASTER URRAY KENNELS LTD

BALANCE SHEET

AS AT 31 MARCH 2023
EASTER URRAY KENNELS LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Tangible assets 4 69,916 90,471
69,916 90,471
Current assets
Stocks 1,310 500
Debtors 5 505,878 220,798
Cash at bank and in hand 39,745 50,266
546,933 271,564
Creditors: amounts falling due within one year 6 ( 148,427) ( 65,499)
Net current assets 398,506 206,065
Total assets less current liabilities 468,422 296,536
Creditors: amounts falling due after more than one year 7 ( 96,993) ( 64,533)
Provision for liabilities 8 ( 9,340) ( 10,950)
Net assets 362,089 221,053
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 361,989 220,953
Total shareholder's funds 362,089 221,053

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Easter Urray Kennels Ltd (registered number: SC528711) were approved and authorised for issue by the Director on 07 March 2024. They were signed on its behalf by:

Thomas Morrison
Director
EASTER URRAY KENNELS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
EASTER URRAY KENNELS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Easter Urray Kennels Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is The Kennels, Easter Urray, Muir Of Ord, IV6 7UL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year error

The prior period profit before tax has been restated to include expenses which had previously been omitted in error. As a result of the restatement, the prior period profit before tax has decreased by £11,143. As the restatement relates to a historic period, the corrective adjustment has been reflected within the earliest period presented within these financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 20 % reducing balance
Fixtures and fittings 20 - 25 % reducing balance
Other property, plant and equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

At each reporting date, an assessment is made for impairment.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

As previously reported Adjustment As restated
Year ended 31 March 2022 £ £ £
Retained earnings 232,096 (11,143) 220,953

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 6 2

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £
Cost
At 01 April 2022 19,408 114,553 1,019 3,816 138,796
Disposals 0 ( 2,580) ( 245) ( 2,523) ( 5,348)
Transfers 0 0 1,293 ( 1,293) 0
At 31 March 2023 19,408 111,973 2,067 0 133,448
Accumulated depreciation
At 01 April 2022 11,645 33,786 276 2,618 48,325
Charge for the financial year 1,940 16,153 206 242 18,541
Disposals 0 ( 1,391) ( 146) ( 1,797) ( 3,334)
Transfers 0 0 1,063 ( 1,063) 0
At 31 March 2023 13,585 48,548 1,399 0 63,532
Net book value
At 31 March 2023 5,823 63,425 668 0 69,916
At 31 March 2022 7,763 80,767 743 1,198 90,471

5. Debtors

2023 2022
£ £
Amounts owed by connected companies 249,476 123,488
Corporation tax 113,337 38,939
Other debtors 143,065 58,371
505,878 220,798

Included within Other debtors are amounts due from the director of £92,165 (2022 - £nil)

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 17,121 10,443
Trade creditors 1,004 3,689
Taxation and social security 115,701 46,243
Other creditors 14,601 5,124
148,427 65,499

Included in creditors due within one year are bank loans totalling £17,121 (2022 - £10,443) that are secured over the company's assets.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 96,993 64,533

Included in creditors due after more than one year are bank loans totalling £96,993 (2022 - £64,533) that are secured over the company's assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2023 2022
£ £
Bank loans (secured / repayable by instalments) 25,815 13,205

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 10,950) 0
Credited/(charged) to the Profit and Loss Account 1,610 ( 10,950)
At the end of financial year ( 9,340) ( 10,950)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary Share shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Key management personnel 341,642 123,489

The above loan in unsecured, interest free and has no fixed terms of repayment.