REGISTERED NUMBER: SC378593 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2026

for

DIR Veterinary Services Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

111,077

148,103

Tangible assets

5

1,024,443

894,422

1,135,520

1,042,525

CURRENT ASSETS

Stocks

89,203

104,332

Debtors

6

583,521

591,413

Cash at bank and in hand

307,420

395,370

980,144

1,091,115

CREDITORS

Amounts falling due within one year

7

(540,299

)

(519,145

)

NET CURRENT ASSETS

439,845

571,970

TOTAL ASSETS LESS CURRENT LIABILITIES

1,575,365

1,614,495

CREDITORS

Amounts falling due after more than one year

8

(496,045

)

(535,802

)

PROVISIONS FOR LIABILITIES

(133,728

)

(122,762

)

NET ASSETS

945,592

955,931

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

945,492

955,831

945,592

955,931

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 22 September 2026 and were signed on its behalf by:

S W McMorrow - Director

1.	STATUTORY INFORMATION

DIR Veterinary Services Limited is a private company, limited by shares, domiciled in Scotland, registration number SC378593. The registered office is Unit 42 Mill Road Industrial Estate, Linlithgow Bridge, Linlithgow, EH49 7SF.

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 group members.

Turnover

Turnover represents net invoiced sales of goods and services in respect of veterinary services, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost and in accordance with the property

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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

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 62 (2025 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

594,208

AMORTISATION

At 1 April 2025

446,105

Charge for year

37,026

At 31 March 2026

483,131

NET BOOK VALUE

At 31 March 2026

111,077

At 31 March 2025

148,103

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

599,905

684,811

1,284,716

Additions

201,333

19,137

220,470

Disposals

-

(2,293

)

(2,293

)

At 31 March 2026

801,238

701,655

1,502,893

DEPRECIATION

At 1 April 2025

80,064

310,230

390,294

Charge for year

26,109

62,901

89,010

Eliminated on disposal

-

(854

)

(854

)

At 31 March 2026

106,173

372,277

478,450

NET BOOK VALUE

At 31 March 2026

695,065

329,378

1,024,443

At 31 March 2025

519,841

374,581

894,422

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

225,765

189,900

Amounts owed by group undertakings

30,190

-

Amounts owed by related parties

315,512

313,012

Other debtors

12,054

88,501

583,521

591,413

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

40,304

40,850

Trade creditors

186,278

132,848

Amounts owed to group undertakings

-

28,837

Taxation and social security

272,964

284,612

Other creditors

40,753

31,998

540,299

519,145

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

496,045

535,802

31.3.26

31.3.25

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

294,526

324,372

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.26

31.3.25

£

£

Within one year

39,595

33,340

Between one and five years

181,000

131,255

In more than five years

50,000

50,000

270,595

214,595

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Bank loans

536,349

576,652

Bank borrowings are secured by a way of a floating charge over the assets of the company.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2026 and 31 March 2025:

31.3.26

31.3.25

£

£

S W McMorrow

Balance outstanding at start of year

56,000

-

Amounts advanced

-

56,000

Amounts repaid

(56,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

56,000

12.	ULTIMATE PARENT ENTITY

The company's ultimate parent undertaking is McMorrow Properties Limited, incorporated in Scotland. No consolidated financial statements are prepared by McMorrow Properties Limited.