2022-05-202023-05-312023-05-31false14119907TEULU VETS 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TEULU VETS LIMITED

Registered Number
14119907
(England and Wales)

Unaudited Financial Statements for the Period ended
31 May 2023

TEULU VETS LIMITED
Company Information
for the period from 20 May 2022 to 31 May 2023

Director

ALLEN, James Guy

Registered Address

Flat 111 Whitchurch Road
Cardiff
CF14 3JQ

Registered Number

14119907 (England and Wales)
TEULU VETS LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

£

£

Fixed assets
Tangible assets31,169
1,169
Current assets
Stocks43,900
Debtors3,178
Cash at bank and on hand75,466
82,544
Creditors amounts falling due within one year6(34,256)
Net current assets (liabilities)48,288
Total assets less current liabilities49,457
Net assets49,457
Capital and reserves
Called up share capital100
Profit and loss account49,357
Shareholders' funds49,457
The financial statements were approved and authorised for issue by the Director on 19 February 2024, and are signed on its behalf by:
ALLEN, James Guy
Director
Registered Company No. 14119907
TEULU VETS LIMITED
Notes to the Financial Statements
for the period ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
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). This is the first time the company has presented its financial statements since its incorporation, hence the financial statements presented are for the period of more than twelve months with no comparatives.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operated 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.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of asses less their residual values over their useful lives on the following bases:

Reducing balance (%)
Plant and machinery25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including 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.
2.Average number of employees

2023
Average number of employees during the year2
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions1,3521,352
At 31 May 231,3521,352
Depreciation and impairment
Charge for year183183
At 31 May 23183183
Net book value
At 31 May 231,1691,169
At 19 May 22--
4.Stocks

2023

£
Finished goods3,900
Total3,900
5.Debtors: amounts due within one year

2023

£
Trade debtors / trade receivables2,388
Prepayments and accrued income790
Total3,178
6.Creditors: amounts due within one year

2023

£
Trade creditors / trade payables6,327
Taxation and social security22,107
Other creditors4,423
Accrued liabilities and deferred income1,399
Total34,256
7.Share capital
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they no longer at the discretion of the company.
8.Related party transactions
Included in other creditors falling due within one year is an amount of £339 due to the director. Dividends totaling £16,545 were paid to the director. Included in other creditors falling due within one year is an amount of £3,850 due to Teulu Allen Ltd, a company connected to the director.