Silverfin false false 30/11/2024 15/11/2023 30/11/2024 Philip McIntosh 15/11/2023 Victoria McIntosh 15/11/2023 17 April 2025 The principal activity of the company is that of providing veterinary services. The company commenced trading 1 December 2023. SC789391 2024-11-30 SC789391 bus:Director1 2024-11-30 SC789391 bus:Director2 2024-11-30 SC789391 core:CurrentFinancialInstruments 2024-11-30 SC789391 core:ShareCapital 2024-11-30 SC789391 core:RetainedEarningsAccumulatedLosses 2024-11-30 SC789391 core:OtherPropertyPlantEquipment 2023-11-14 SC789391 2023-11-14 SC789391 core:OtherPropertyPlantEquipment 2024-11-30 SC789391 bus:OrdinaryShareClass1 2024-11-30 SC789391 bus:OrdinaryShareClass2 2024-11-30 SC789391 2023-11-15 2024-11-30 SC789391 bus:FilletedAccounts 2023-11-15 2024-11-30 SC789391 bus:SmallEntities 2023-11-15 2024-11-30 SC789391 bus:AuditExemptWithAccountantsReport 2023-11-15 2024-11-30 SC789391 bus:PrivateLimitedCompanyLtd 2023-11-15 2024-11-30 SC789391 bus:Director1 2023-11-15 2024-11-30 SC789391 bus:Director2 2023-11-15 2024-11-30 SC789391 core:OtherPropertyPlantEquipment 2023-11-15 2024-11-30 SC789391 bus:OrdinaryShareClass1 2023-11-15 2024-11-30 SC789391 bus:OrdinaryShareClass2 2023-11-15 2024-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC789391 (Scotland)

TM EQUINE LTD

Unaudited Financial Statements
For the financial period from 15 November 2023 to 30 November 2024
Pages for filing with the registrar

TM EQUINE LTD

Unaudited Financial Statements

For the financial period from 15 November 2023 to 30 November 2024

Contents

TM EQUINE LTD

BALANCE SHEET

As at 30 November 2024
TM EQUINE LTD

BALANCE SHEET (continued)

As at 30 November 2024
Note 30.11.2024
£
Fixed assets
Tangible assets 3 39,612
39,612
Current assets
Stocks 2,929
Debtors 4 6,753
Cash at bank and in hand 30,297
39,979
Creditors: amounts falling due within one year 5 ( 32,437)
Net current assets 7,542
Total assets less current liabilities 47,154
Provision for liabilities ( 9,903)
Net assets 37,251
Capital and reserves
Called-up share capital 6 100
Profit and loss account 37,151
Total shareholders' funds 37,251

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of TM Equine Ltd (registered number: SC789391) were approved and authorised for issue by the Board of Directors on 17 April 2025. They were signed on its behalf by:

Philip McIntosh
Director
TM EQUINE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 November 2023 to 30 November 2024
TM EQUINE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 15 November 2023 to 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

TM Equine Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the company's registered office is Old Gateside, Culsalmond, Insch, AB52 6UD, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
15.11.2023 to
30.11.2024
Number
Monthly average number of persons employed by the company during the period, including directors 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 15 November 2023 0 0
Additions 49,990 49,990
At 30 November 2024 49,990 49,990
Accumulated depreciation
At 15 November 2023 0 0
Charge for the financial period 10,378 10,378
At 30 November 2024 10,378 10,378
Net book value
At 30 November 2024 39,612 39,612

4. Debtors

30.11.2024
£
Trade debtors 6,208
Other debtors 545
6,753

5. Creditors: amounts falling due within one year

30.11.2024
£
Trade creditors 1,727
Corporation tax 1,793
Other taxation and social security 7,525
Other creditors 21,392
32,437

6. Called-up share capital

30.11.2024
£
Allotted, called-up and fully-paid
90 A Ordinary shares of £ 1.00 each 90
10 B Ordinary shares of £ 1.00 each 10
100

On 15 November 2023, 90 A Ordinary shares of £1 were issued and 10 B Ordinary shares of £1 were issued at par. All shares rank pari passu.

7. Related party transactions

Transactions with the entity's directors

As at 30 November 2024 the company was due the director £19,392. Interest of £3,052 was charged. There are no set repayment terms.