Morven Veterinary Practice Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC255565 (Scotland)

Unaudited Financial Statements for the Year Ended 30 November 2025

for

Morven Veterinary Practice Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTORS:

Mrs E K Manning

G H Niven

Mrs S C Niven

REGISTERED OFFICE:

Mart Road

ALFORD

AB33 8BZ

REGISTERED NUMBER:

SC255565 (Scotland)

ACCOUNTANTS:

Atholl Scott

55-57 West High Street

INVERURIE

AB51 3QQ

FIXED ASSETS

Tangible assets

4

85,589

47,885

CURRENT ASSETS

Stocks

88,319

70,174

Debtors

5

100,154

96,670

Cash at bank and in hand

22,079

72,487

210,552

239,331

CREDITORS

Amounts falling due within one
year

6

(163,183

)

(111,328

)

NET CURRENT ASSETS

47,369

128,003

TOTAL ASSETS LESS CURRENT
LIABILITIES

132,958

175,888

CREDITORS

Amounts falling due after more
than one year

7

(26,547

)

(13,706

)

PROVISIONS FOR LIABILITIES

8

(7,148

)

(7,841

)

NET ASSETS

99,263

154,341

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

99,262

154,340

99,263

154,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 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 21 April 2026 and were signed on its behalf by:

Mrs E K Manning - Director

G H Niven - Director

Mrs S C Niven - Director

1.	STATUTORY INFORMATION

Morven Veterinary Practice 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.

Turnover

Turnover represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

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.

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 17 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 December 2024

75,195

-

58,910

2,063

136,168

Additions

2,448

880

55,199

4,386

62,913

At 30 November 2025

77,643

880

114,109

6,449

199,081

DEPRECIATION

At 1 December 2024

48,939

-

38,662

682

88,283

Charge for year

4,309

132

18,863

1,905

25,209

At 30 November 2025

53,248

132

57,525

2,587

113,492

NET BOOK VALUE

At 30 November 2025

24,395

748

56,584

3,862

85,589

At 30 November 2024

26,256

-

20,248

1,381

47,885

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

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 December 2024

15,950

12,990

28,940

Additions

-

55,199

At 30 November 2025

15,950

68,189

84,139

DEPRECIATION

At 1 December 2024

2,393

3,248

5,641

Charge for year

2,034

16,236

18,270

At 30 November 2025

4,427

19,484

23,911

NET BOOK VALUE

At 30 November 2025

11,523

48,705

60,228

At 30 November 2024

13,557

9,742

23,299

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

Trade debtors

72,687

84,735

Other debtors

13,419

11,176

Prepayments

14,048

759

100,154

96,670

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

Hire purchase contracts

19,085

11,223

Trade creditors

63,399

50,588

Tax

12,776

1,295

PAYE

23,165

10,542

VAT

35,792

33,274

Other creditors

5,160

-

Directors' loan accounts

406

Accrued expenses

3,400

4,000

163,183

111,328

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.11.25

30.11.24

£

Hire purchase contracts

26,547

13,706

8.	PROVISIONS FOR LIABILITIES

30.11.25

30.11.24

£

Deferred tax

7,148

7,841

Deferred

tax

£

Balance at 1 December 2024

7,841

Credit to Income Statement during year

(693

)

Balance at 30 November 2025

7,148

9.	RELATED PARTY DISCLOSURES

During the year there was no movement on the directors' loan to the company of £406 (2024 £406). This loan is unsecured, interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morven Veterinary Practice Limited for the year ended 30 November 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Morven Veterinary Practice Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Morven Veterinary Practice Limited and state those matters that we have agreed to state to the Board of Directors of Morven Veterinary Practice Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Morven Veterinary Practice 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 Morven Veterinary Practice Limited. You consider that Morven Veterinary Practice 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 Morven Veterinary Practice 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.

Atholl Scott

55-57 West High Street

INVERURIE

AB51 3QQ

21 April 2026