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REGISTERED NUMBER: SC606806 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MEDWYN VETS LIMITED

MEDWYN VETS LIMITED (REGISTERED NUMBER: SC606806)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEDWYN VETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: H C Howie





SECRETARY: H C Howie





REGISTERED OFFICE: Howeburn House
Carnwath
Lanark
South Lanarkshire
ML11 8LY





REGISTERED NUMBER: SC606806 (Scotland)





ACCOUNTANTS: Henry Brown & Co
Chartered Accountants
26 Portland Road
Kilmarnock
Ayrshire
KA1 2EB

MEDWYN VETS LIMITED (REGISTERED NUMBER: SC606806)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,339 122,446

CURRENT ASSETS
Stocks 125,000 117,700
Debtors 5 - 12,830
Cash at bank 222 8,501
125,222 139,031
CREDITORS
Amounts falling due within one year 6 270,207 253,521
NET CURRENT LIABILITIES (144,985 ) (114,490 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(27,646

)

7,956

CREDITORS
Amounts falling due after more than one year 7 62,597 62,744
NET LIABILITIES (90,243 ) (54,788 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (90,244 ) (54,789 )
(90,243 ) (54,788 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MEDWYN VETS LIMITED (REGISTERED NUMBER: SC606806)

BALANCE SHEET - continued
31 AUGUST 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 director and authorised for issue on 13 July 2025 and were signed by:





H C Howie - Director


MEDWYN VETS LIMITED (REGISTERED NUMBER: SC606806)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Medwyn 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements relate to a single company.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
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.

MEDWYN VETS LIMITED (REGISTERED NUMBER: SC606806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023 71,416 67,230 138,646
Additions - 39,178 39,178
Disposals - (31,582 ) (31,582 )
At 31 August 2024 71,416 74,826 146,242
DEPRECIATION
At 1 September 2023 6,791 9,409 16,200
Charge for year 7,141 16,402 23,543
Eliminated on disposal - (10,840 ) (10,840 )
At 31 August 2024 13,932 14,971 28,903
NET BOOK VALUE
At 31 August 2024 57,484 59,855 117,339
At 31 August 2023 64,625 57,821 122,446

MEDWYN VETS LIMITED (REGISTERED NUMBER: SC606806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 67,230
Additions 39,178
Disposals (31,582 )
At 31 August 2024 74,826
DEPRECIATION
At 1 September 2023 9,409
Charge for year 16,402
Eliminated on disposal (10,840 )
At 31 August 2024 14,971
NET BOOK VALUE
At 31 August 2024 59,855
At 31 August 2023 57,821

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 12,830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,288 14,499
Hire purchase contracts 13,654 12,287
Taxation and social security 4,253 -
Other creditors 246,012 226,735
270,207 253,521

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,973 23,437
Hire purchase contracts 45,624 39,307
62,597 62,744

MEDWYN VETS LIMITED (REGISTERED NUMBER: SC606806)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,582 -