REGISTERED NUMBER: SC261307 (Scotland)

Unaudited Financial Statements

For The Year Ended 31st December 2024

for

Real Vets Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

R D Lees

Ms L Marnock

SECRETARY:

REGISTERED OFFICE:

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

REGISTERED NUMBER:

SC261307 (Scotland)

ACCOUNTANTS:

J S Mackie & Co Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

320,720

168,050

320,720

168,050

CURRENT ASSETS

Stocks

66,988

77,588

Debtors

6

31,426

33,165

Cash at bank and in hand

189,981

250,519

288,395

361,272

CREDITORS

Amounts falling due within one year

7

(177,484

)

(177,286

)

NET CURRENT ASSETS

110,911

183,986

TOTAL ASSETS LESS CURRENT LIABILITIES

431,631

352,036

CREDITORS

Amounts falling due after more than one year

8

137,200

54,400

PROVISIONS FOR LIABILITIES

56,901

19,245

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

237,430

278,291

SHAREHOLDERS' FUNDS

237,530

278,391

431,631

352,036

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 11th September 2025 and were signed on its behalf by:

R D Lees - Director

1.	STATUTORY INFORMATION

Real 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised when the service has been provided. It represents net invoiced sales, excluding value added tax.

Goodwill

Goodwill, being the amount paid in consideration with the aquisition of the business in 2004, was amortised evenly over it's useful life of 10 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance, 20% on reducing balance and 10% on cost

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.

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.

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 26 (2023 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2024

and 31st December 2024

33,000

AMORTISATION

At 1st January 2024

and 31st December 2024

33,000

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2024

112,309

322,887

435,196

Additions

-

199,653

199,653

At 31st December 2024

112,309

522,540

634,849

DEPRECIATION

At 1st January 2024

17,968

249,178

267,146

Charge for year

2,246

44,737

46,983

At 31st December 2024

20,214

293,915

314,129

NET BOOK VALUE

At 31st December 2024

92,095

228,625

320,720

At 31st December 2023

94,341

73,709

168,050

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1st January 2024

and 31st December 2024

19,900

DEPRECIATION

At 1st January 2024

17,230

Charge for year

534

At 31st December 2024

17,764

NET BOOK VALUE

At 31st December 2024

2,136

At 31st December 2023

2,670

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

12,955

12,084

Other debtors

14,471

17,081

27,426

29,165

Amounts falling due after more than one year:

Other debtors

4,000

4,000

Aggregate amounts

31,426

33,165

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

4,154

Trade creditors

57,137

57,241

Taxation and social security

113,440

109,124

Other creditors

6,907

6,767

177,484

177,286

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

137,200

54,400

9.	SECURED DEBTS

There is a bond and floating charge held by the Bank of Scotland PLC for all sums due or to become due over the business undertakings and all properties and assets, present and future, including uncalled capital.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2024 set out on pages three to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

J S Mackie & Co Ltd

8 Douglas Street

Hamilton

Lanarkshire

ML3 0BP

11th September 2025