Whisker & Woof Ltd 13426716 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is the provision of veterinary services. The company began trading post year end on 26 July 2023. Digita Accounts Production Advanced 6.30.9574.0 true true 13426716 2022-06-01 2023-05-31 13426716 2023-05-31 13426716 core:CurrentFinancialInstruments 2023-05-31 13426716 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 13426716 core:Non-currentFinancialInstruments 2023-05-31 13426716 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 13426716 core:ConstructionInProgressAssetsUnderConstruction 2023-05-31 13426716 bus:SmallEntities 2022-06-01 2023-05-31 13426716 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 13426716 bus:FullAccounts 2022-06-01 2023-05-31 13426716 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 13426716 bus:RegisteredOffice 2022-06-01 2023-05-31 13426716 bus:Director1 2022-06-01 2023-05-31 13426716 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 13426716 core:ConstructionInProgressAssetsUnderConstruction 2022-06-01 2023-05-31 13426716 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-01 2023-05-31 13426716 countries:EnglandWales 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 13426716

Prepared for the registrar

Whisker & Woof Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Whisker & Woof Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Whisker & Woof Ltd

Company Information

Director

J Way

Registered office

143 Lee Road
London
SE3 9DJ

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Whisker & Woof Ltd

(Registration number: 13426716)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

175,171

Current assets

 

Debtors

5

259,074

Cash at bank and in hand

 

79,308

 

338,382

Creditors: Amounts falling due within one year

6

(125,561)

Net current assets

 

212,821

Total assets less current liabilities

 

387,992

Creditors: Amounts falling due after more than one year

6

(387,991)

Net assets

 

1

Capital and reserves

 

Called up share capital

1

Shareholders' funds

 

1

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 February 2024
 


J Way
Director

 

Whisker & Woof Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
143 Lee Road
London
SE3 9DJ

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Whisker & Woof Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Whisker & Woof Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1.

 

4

Tangible assets

Properties under construction
 £

Total
£

Cost

Additions

175,171

175,171

At 31 May 2023

175,171

175,171

Depreciation

Carrying amount

At 31 May 2023

175,171

175,171

 

5

Debtors

2023
 £

Other debtors

27,000

Prepayments

232,074

 

259,074

 

Whisker & Woof Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

 

6

Creditors

Note

2023
 £

Due within one year

 

Loans and borrowings

7

173,356

Trade creditors

 

946

Social security and other taxes

 

(48,741)

 

125,561

Note

2023
£

Due after one year

 

Loans and borrowings

7

387,991

 

7

Loans and borrowings

2023
£

Current loans and borrowings

Bank borrowings

33,333

HP and finance lease liabilities

40,643

Other borrowings

99,380

173,356

2023
£

Non-current loans and borrowings

Bank borrowings

161,111

HP and finance lease liabilities

226,880

387,991

 

8

Related party transactions

Summary of transactions with key management

Key management personnel are considered to be the directors of the company.

 As at 31 May 2023, the company owed the director £99,381. This amount is included within other borrowings. There are no fixed repayment terms and no interest is charged.