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REGISTERED NUMBER: SC261307 (Scotland)







Unaudited Financial Statements

For The Year Ended 31st December 2023

for

Real Vets Limited

Real Vets Limited (Registered number: SC261307)






Contents of the Financial Statements
For The Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Real Vets Limited

Company Information
For The Year Ended 31st December 2023







DIRECTORS: R D Lees
Ms L Marnock
Mrs E J Mills





SECRETARY:





REGISTERED OFFICE: 8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP





REGISTERED NUMBER: SC261307 (Scotland)





ACCOUNTANTS: J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP

Real Vets Limited (Registered number: SC261307)

Balance Sheet
31st December 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 168,050 137,029
168,050 137,029

CURRENT ASSETS
Stocks 77,588 57,173
Debtors 6 33,165 22,078
Cash at bank and in hand 250,519 230,590
361,272 309,841
CREDITORS
Amounts falling due within one year 7 (177,286 ) (170,035 )
NET CURRENT ASSETS 183,986 139,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,036

276,835

CREDITORS
Amounts falling due after more than one
year

8

54,400

58,554

PROVISIONS FOR LIABILITIES 19,245 25,746

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 278,291 192,435
SHAREHOLDERS' FUNDS 278,391 192,535
352,036 276,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Real Vets Limited (Registered number: SC261307)

Balance Sheet - continued
31st December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th September 2024 and were signed on its behalf by:





R D Lees - Director


Real Vets Limited (Registered number: SC261307)

Notes to the Financial Statements
For The Year Ended 31st December 2023

1. STATUTORY INFORMATION

Real Vets Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 '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.

Turnover
Turnover is recognised when the service has been provided. It represents net invoiced sales, excluding value added tax.

Goodwill
Goodwill, being the amount paid in consideration with the aquisition of the business in 2004, was amortised evenly over it's useful life of 10 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 10% on cost

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 Income Statement, 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.


Real Vets Limited (Registered number: SC261307)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 25 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1st January 2023
and 31st December 2023 33,000
AMORTISATION
At 1st January 2023
and 31st December 2023 33,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

Real Vets Limited (Registered number: SC261307)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1st January 2023 112,309 263,471 375,780
Additions - 59,416 59,416
At 31st December 2023 112,309 322,887 435,196
DEPRECIATION
At 1st January 2023 15,722 223,029 238,751
Charge for year 2,246 26,149 28,395
At 31st December 2023 17,968 249,178 267,146
NET BOOK VALUE
At 31st December 2023 94,341 73,709 168,050
At 31st December 2022 96,587 40,442 137,029

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
At 1st January 2023
and 31st December 2023 19,900
DEPRECIATION
At 1st January 2023 16,562
Charge for year 668
At 31st December 2023 17,230
NET BOOK VALUE
At 31st December 2023 2,670
At 31st December 2022 3,338

6. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 12,084 11,984
Other debtors 17,081 10,094
29,165 22,078

Real Vets Limited (Registered number: SC261307)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2023

6. DEBTORS - continued
2023 2022
£ £
Amounts falling due after more than one year:
Other debtors 4,000 -

Aggregate amounts 33,165 22,078

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts 4,154 8,309
Trade creditors 57,241 67,664
Taxation and social security 109,124 87,402
Other creditors 6,767 6,660
177,286 170,035

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Hire purchase contracts - 4,154
Other creditors 54,400 54,400
54,400 58,554

9. SECURED DEBTS

There is a bond and floating charge held by the Bank of Scotland PLC for all sums due or to become due over the business undertakings and all properties and assets, present and future, including uncalled capital.

Real Vets Limited

Report of the Accountants to the Directors of
Real Vets Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2023 set out on pages three to twelve and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






J S Mackie & Co Ltd
8 Douglas Street
Hamilton
Lanarkshire
ML3 0BP


13th September 2024