Stewartry Veterinary Centre Limited 31/05/2025 iXBRL

Company registration number: SC425382

Stewartry Veterinary Centre Limited

Unaudited filleted financial statements

31 May 2025

Stewartry Veterinary Centre Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Stewartry Veterinary Centre Limited

Directors and other information


	Directors	Mr Graham Bell
		Mrs Helen M Bell
		Mr Bruce Haggarty


	Company number	SC425382


	Registered office	Oakwell Road
		Castle Douglas
		DG7 1JT


	Accountants	Carson & Trotter
		123 Irish Street
		Dumfries
		DG1 2PE

Stewartry Veterinary Centre Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Stewartry Veterinary Centre Limited

Year ended 31st May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stewartry Veterinary Centre Limited for the year ended 31st May 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of Stewartry Veterinary Centre Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Stewartry Veterinary Centre Limited and state those matters that we have agreed to state to the board of directors of Stewartry Veterinary Centre Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stewartry Veterinary Centre Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Stewartry Veterinary Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stewartry Veterinary Centre Limited. You consider that Stewartry Veterinary Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Stewartry Veterinary Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carson & Trotter

Chartered Accountant

123 Irish Street

Dumfries

DG1 2PE

28th August 2025

Stewartry Veterinary Centre Limited

Statement of financial position

31st May 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	5	105,000		120,000
Tangible assets	6	28,319		47,329
		_______		_______
			133,319		167,329

Current assets
Stocks		130,803		134,876
Debtors	7	347,263		397,963
Cash at bank and in hand		569,111		700,519
		_______		_______
		1,047,177		1,233,358
Creditors: amounts falling due
within one year	8	( 293,688)		( 318,266)
		_______		_______
Net current assets			753,489		915,092
			_______		_______
Total assets less current liabilities			886,808		1,082,421


Provisions for liabilities			( 7,080)		( 11,832)

			_______		_______
Net assets			879,728		1,070,589
			_______		_______

Capital and reserves
Called up share capital	9		2		2
Profit and loss account			879,726		1,070,587
			_______		_______
Shareholders funds			879,728		1,070,589
			_______		_______

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

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

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:

Mr Graham Bell

Director

Company registration number: SC425382

Stewartry Veterinary Centre Limited

Notes to the financial statements

Year ended 31st May 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Oakwell Road, Castle Douglas, DG7 1JT.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A "Small entities" of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the balance sheet date, the company had a strong net current asset position and the continuing support of its directors. At the time of signing these accounts, the directors have considered the effect of the current economic position on the going concern position, and consider that this does indicate that the company will continue to trade for a period of at least 12 months from the date of signing these accounts due to the resources available to it.On that basis, the directors have prepared these financial statements on a going concern basis

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Goodwill	-	5 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	straight line
Fittings fixtures and equipment	-	20 %	straight line
Motor vehicles	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: 16 ).

5. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1st June 2024 and 31st May 2025	300,000	300,000
	_______	_______
Amortisation
At 1st June 2024	180,000	180,000
Charge for the year	15,000	15,000
	_______	_______
At 31st May 2025	195,000	195,000
	_______	_______
Carrying amount
At 31st May 2025	105,000	105,000
	_______	_______
At 31st May 2024	120,000	120,000
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1st June 2024	79,908	12,800	111,642	204,350
Additions	1,916	-	-	1,916
	_______	_______	_______	_______
At 31st May 2025	81,824	12,800	111,642	206,266
	_______	_______	_______	_______
Depreciation
At 1st June 2024	65,105	11,626	80,290	157,021
Charge for the year	4,081	1,169	15,676	20,926
	_______	_______	_______	_______
At 31st May 2025	69,186	12,795	95,966	177,947
	_______	_______	_______	_______
Carrying amount
At 31st May 2025	12,638	5	15,676	28,319
	_______	_______	_______	_______
At 31st May 2024	14,803	1,174	31,352	47,329
	_______	_______	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	313,585	316,418
Other debtors	33,678	81,545
	_______	_______
	347,263	397,963
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	121,470	125,440
Corporation tax	104,104	119,960
Social security and other taxes	60,490	65,234
Other creditors	7,624	7,632
	_______	_______
	293,688	318,266
	_______	_______

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary A shares of £ 0.03 each	20	1	20	1
Ordinary B shares of £ 0.03 each	20	1	20	1
Ordinary C shares of £ 0.03 each	10	0	10	0
Ordinary D shares of £ 0.03 each	10	0	10	0
	_______	_______	_______	_______
	60	2	60	2
	_______	_______	_______	_______

10. Related party transactions

At the year end there were amounts owing to the company from the directors of £72,318, these were repaid to the company after the year end.The directors and connected parties received total dividends of £474,000 during the year.

11. Controlling party

The company is under the control of the directors.