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TEULU VETS LIMITED

Registered Number
14119907
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

TEULU VETS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

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 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,6471,169
3,6471,169
Current assets
Stocks43,9003,900
Debtors523,4283,178
Cash at bank and on hand145,08175,466
172,40982,544
Creditors amounts falling due within one year6(48,316)(34,256)
Net current assets (liabilities)124,09348,288
Total assets less current liabilities127,74049,457
Net assets127,74049,457
Capital and reserves
Called up share capital100100
Profit and loss account127,64049,357
Shareholders' funds127,74049,457
The financial statements were approved and authorised for issue by the Director on 12 February 2025, 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 year ended 31 May 2024

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).
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 June 231,352-1,352
Additions1,2302,2753,505
At 31 May 242,5822,2754,857
Depreciation and impairment
At 01 June 23183-183
Charge for year4216061,027
At 31 May 246046061,210
Net book value
At 31 May 241,9781,6693,647
At 31 May 231,169-1,169
4.Stocks

2024

2023

££
Finished goods3,9003,900
Total3,9003,900
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,2862,388
Other debtors21,260-
Prepayments and accrued income882790
Total23,4283,178
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8,4346,327
Taxation and social security37,97922,107
Other creditors4034,423
Accrued liabilities and deferred income1,5001,399
Total48,31634,256
7.Related party transactions
Included in other creditors falling due within one year is an amount of £339 (2023: £339 ) due to the director. Dividends amounting to £11,00(2023: £16,545) were paid to the director. Included in other debtors falling due within one year is an amount of £15,052 (2023: £3,850 creditor) due from Teulu Allen Ltd, a company connected to the director.