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REGISTERED NUMBER: SC689262 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

LOUDOUN VETERINARY CLINIC LTD

LOUDOUN VETERINARY CLINIC LTD (REGISTERED NUMBER: SC689262)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOUDOUN VETERINARY CLINIC LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Robert Knox McElrea MVB MRCVS
Alison Grierson Nicol McElrea



REGISTERED OFFICE: 79 West Main Street
Darvel
Ayrshire
KA17 0HA



REGISTERED NUMBER: SC689262 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG



BANKERS: Bank of Scotland
P.O. Box 17235
Edinburgh
EH11 1YH

LOUDOUN VETERINARY CLINIC LTD (REGISTERED NUMBER: SC689262)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,115 193,441

CURRENT ASSETS
Stocks 44,191 19,357
Debtors 5 47,509 50,876
Cash at bank 191,601 157,115
283,301 227,348
CREDITORS
Amounts falling due within one year 6 167,650 154,172
NET CURRENT ASSETS 115,651 73,176
TOTAL ASSETS LESS CURRENT
LIABILITIES

316,766

266,617

PROVISIONS FOR LIABILITIES 19,175 8,778
NET ASSETS 297,591 257,839

CAPITAL AND RESERVES
Called up share capital 7 12 12
Retained earnings 297,579 257,827
SHAREHOLDERS' FUNDS 297,591 257,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

LOUDOUN VETERINARY CLINIC LTD (REGISTERED NUMBER: SC689262)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 30 December 2024 and were signed on its behalf by:





Robert Knox McElrea MVB MRCVS - Director


LOUDOUN VETERINARY CLINIC LTD (REGISTERED NUMBER: SC689262)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Loudoun Veterinary Clinic 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and equipment - 20% on reducing balance
Motor vehicles - 25% on 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 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.

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 6 (2023 - 7 ) .

LOUDOUN VETERINARY CLINIC LTD (REGISTERED NUMBER: SC689262)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2023 120,820 59,794 41,285 221,899
Additions - 23,397 - 23,397
At 29 February 2024 120,820 83,191 41,285 245,296
DEPRECIATION
At 1 March 2023 - 13,595 14,863 28,458
Charge for year - 10,439 5,284 15,723
At 29 February 2024 - 24,034 20,147 44,181
NET BOOK VALUE
At 29 February 2024 120,820 59,157 21,138 201,115
At 28 February 2023 120,820 46,199 26,422 193,441

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,928 50,507
Other debtors 581 369
47,509 50,876

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 17,105 -
Taxation and social security 51,903 60,305
Other creditors 98,642 93,867
167,650 154,172

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12 Ordinary £1 12 12