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Registration number: SC649199

Tinto Farm Vets Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 May 2024

 

Tinto Farm Vets Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Tinto Farm Vets Limited

(Registration number: SC649199)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

156,571

106,213

Current assets

 

Stocks

 

50,107

53,284

Debtors

686,686

345,512

Cash at bank and in hand

 

390,868

604,854

 

1,127,661

1,003,650

Creditors: Amounts falling due within one year

(251,150)

(239,379)

Net current assets

 

876,511

764,271

Total assets less current liabilities

 

1,033,082

870,484

Provisions for liabilities

(33,585)

(26,487)

Net assets

 

999,497

843,997

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

999,297

843,797

Total equity

 

999,497

843,997

 

Tinto Farm Vets Limited

(Registration number: SC649199)
Abridged Balance Sheet as at 31 May 2024

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 





Mr C McGregor

Director





Mr R Wilson

Director

 

Tinto Farm Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
75 Lanark Road
Carstairs
Lanark
South Lanarkshire
ML11 8QL

The principal place of business is:
75 Lanark Road
Carstairs
Lanark
ML11 8QL

These financial statements were authorised for issue by the Board on 24 February 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Tinto Farm Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Tinto Farm Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold improvements

2% straight line

Office equipment

10% reducing balance

Motor vehicles

25% reducing balance

Plant and machinery

10% reducing balance

Fixtures and fittings

10% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Tangible assets

Total
£

Cost or valuation

At 1 June 2023

173,708

Additions

82,859

Disposals

(13,000)

At 31 May 2024

243,567

Depreciation

At 1 June 2023

67,496

Charge for the year

27,016

Eliminated on disposal

(7,516)

At 31 May 2024

86,996

Carrying amount

At 31 May 2024

156,571

At 31 May 2023

106,213

5

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £667).

 

Tinto Farm Vets Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

6

Related party transactions

Advances to directors


Mr R Wilson

During the period Mr R Wilson went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £74,197 (2023 - £74,516). At the year end the amount outstanding from Mr R Wilson was £Nil (2023 - £19,736). Interest has been charged at the commercial rate.


Mr C McGregor

During the period Mr C McGregor went overdrawn on their director's loan account. The maximum overdrawn balance during the year was £75,441 (2023 - £75,065). At the year end the amount outstanding from Mr C McGregor was £Nil (2023 - £19,790). Interest has been charged at the commercial rate.