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Registered Number: 13649526
England and Wales

 

 

 

PETSPEC LTD


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Directors Florence Vessieres
Matej Matiasovic
Registered Number 13649526
Registered Office 66 Gloucester Road
Bishopston
Bristol
BS7 8BH
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
BS7 8BH
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 September 2023
Principal activities
The companys principal activity during the year was that of veterinary and training services.
Directors
The directors who served the company throughout the year were as follows:
Florence Vessieres
Matej Matiasovic
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Matej Matiasovic
Director

Date approved: 02 October 2023
2
Report to the directors on the preparation of the unaudited statutory accounts of PetSpec Ltd for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PetSpec Ltd for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of PetSpec Ltd , as a body, in accordance with the terms of our engagement letter dated 03 October 2021 Our work has been undertaken solely to prepare for your approval the accounts of PetSpec Ltd and state those matters that we have agreed to state to the Board of Directors of PetSpec Ltd , as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PetSpec Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PetSpec Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PetSpec Ltd . You consider that PetSpec Ltd 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 accounts of PetSpec Ltd . 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 accounts
30 September 2023


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
BS7 8BH
02 October 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3   1,599 
  1,599 
Current assets      
Debtors 4   1,464 
Cash at bank and in hand 2,553    9,066 
2,553    10,530 
Creditors: amount falling due within one year 5 (2,021)   (2,780)
Net current assets 532    7,750 
 
Total assets less current liabilities 532    9,349 
Provisions for liabilities 6   (304)
Net assets 532    9,045 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 432    8,945 
Shareholder's funds 532    9,045 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 October 2023 and were signed on its behalf by:


-------------------------------
Matej Matiasovic
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
Profit for the year 8,945  8,945 
Total comprehensive income for the year 8,945  8,945 
Shares issued 100  100 
Total investments by and distributions to owners 100  100 
At 27 September 2022 100  8,945  9,045 
At 01 October 2022 100  8,945  9,045 
Profit for the year (2,513) (2,513)
Total comprehensive income for the year (2,513) (2,513)
Dividends (6,000) (6,000)
Total investments by and distributions to owners (6,000) (6,000)
At 30 September 2023 100  432  532 
5
General Information
PetSpec Ltd is a private company, limited by shares, registered in England and Wales, registration number 13649526, registration address 66 Gloucester Road , Bishopston, Bristol, BS7 8BH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors have decided to cease trading. These are the final trading accounts and the company will soon be dissolved.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 3 Years Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 October 2022 2,399    2,399 
Additions  
Disposals (2,399)   (2,399)
At 30 September 2023  
Depreciation
At 01 October 2022 800    800 
Charge for year 800    800 
On disposals (1,600)   (1,600)
At 30 September 2023  
Net book values
Closing balance as at 30 September 2023  
Opening balance as at 01 October 2022 1,599    1,599 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   1,464 
  1,464 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax   1,668 
Accrued Expenses 900    900 
Directors' Current Accounts 1,121    212 
2,021    2,780 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax   304 
  304 

6