Real Vets Limited - Accounts to registrar (filleted) - small 18.2
Real Vets Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| For The Year Ended 31st December 2020 |
| for |
| Real Vets Limited |
| Real Vets Limited (Registered number: SC261307) |
| Contents of the Financial Statements |
| For The Year Ended 31st December 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Report of the Accountants | 9 |
| Real Vets Limited |
| Company Information |
| For The Year Ended 31st December 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 8 Douglas Street |
| Hamilton |
| Lanarkshire |
| ML3 0BP |
| Real Vets Limited (Registered number: SC261307) |
| Balance Sheet |
| 31st December 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| PROVISIONS FOR LIABILITIES | 11 |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings | 13 |
| SHAREHOLDERS' FUNDS |
| 180,589 | 96,789 |
| 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. |
| Real Vets Limited (Registered number: SC261307) |
| Balance Sheet - continued |
| 31st December 2020 |
| 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 |
| Real Vets Limited (Registered number: SC261307) |
| Notes to the Financial Statements |
| For The Year Ended 31st December 2020 |
| 1. | STATUTORY INFORMATION |
| Real Vets Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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. |
| Real Vets Limited (Registered number: SC261307) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31st December 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st January 2020 |
| and 31st December 2020 |
| AMORTISATION |
| At 1st January 2020 |
| and 31st December 2020 |
| NET BOOK VALUE |
| At 31st December 2020 |
| At 31st December 2019 |
| Real Vets Limited (Registered number: SC261307) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31st December 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1st January 2020 |
| Additions |
| At 31st December 2020 |
| DEPRECIATION |
| At 1st January 2020 |
| Charge for year |
| At 31st December 2020 |
| NET BOOK VALUE |
| At 31st December 2020 |
| At 31st December 2019 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1st January 2020 |
| Additions |
| At 31st December 2020 |
| DEPRECIATION |
| At 1st January 2020 |
| Charge for year |
| At 31st December 2020 |
| NET BOOK VALUE |
| At 31st December 2020 |
| At 31st December 2019 |
| Real Vets Limited (Registered number: SC261307) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31st December 2020 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st January 2020 |
| and 31st December 2020 |
| DEPRECIATION |
| At 1st January 2020 |
| Charge for year |
| At 31st December 2020 |
| NET BOOK VALUE |
| At 31st December 2020 |
| At 31st December 2019 |
| 6. | STOCKS |
| 2020 | 2019 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 64,834 | 30,489 |
| Other creditors |
| Credit card | 235 | 526 |
| Accrued expenses |
| Real Vets Limited (Registered number: SC261307) |
| Notes to the Financial Statements - continued |
| For The Year Ended 31st December 2020 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans - 2-5 years |
| 10. | 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. |
| 11. | PROVISIONS FOR LIABILITIES |
| 2020 | 2019 |
| £ | £ |
| Deferred tax | 4,260 | 5,215 |
| Deferred |
| tax |
| £ |
| Balance at 1st January 2020 |
| Provided during year | ( |
) |
| Balance at 31st December 2020 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary | £1 | 12 | 10 |
| Ordinary A- J | £1 | - | 2 |
| 12 | 12 |
| 13. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1st January 2020 |
| Profit for the year |
| Dividends | ( |
) |
| At 31st December 2020 |
| 14. | RELATED PARTY DISCLOSURES |
| The company is under the ultimate control of its directors by virtue of their shareholding in the company. |
| Real Vets Limited |
| Report of the Accountants to the Directors of |
| Real Vets Limited |
| 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 2020 set out on pages one to eight 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. |
| 8 Douglas Street |
| Hamilton |
| Lanarkshire |
| ML3 0BP |