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Company Registration No. 10426715 (England and Wales)
Petsmiths Limited Unaudited accounts for the year ended 31 October 2023
Petsmiths Limited Unaudited accounts Contents
Page
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Petsmiths Limited Company Information for the year ended 31 October 2023
Directors
Ian Nicholson Lucy Nicholson
Company Number
10426715 (England and Wales)
Registered Office
8 Lulworth Close Hayling Island Hampshire PO110NY United Kingdom
Accountants
Babcock Tax & Accountancy Services Ltd The Florins, 8 Lulworth Close Hayling Island Hampshire PO11 0NY
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Petsmiths Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,686 
3,102 
Current assets
Debtors
(7,176)
3,600 
Cash at bank and in hand
72,659 
15,777 
65,483 
19,377 
Creditors: amounts falling due within one year
(25,962)
(22,478)
Net current assets/(liabilities)
39,521 
(3,101)
Net assets
41,207 
1 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
41,206 
- 
Shareholders' funds
41,207 
1 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by
Ian Nicholson Director Company Registration No. 10426715
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Petsmiths Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Petsmiths Limited is a private company, limited by shares, registered in England and Wales, registration number 10426715. The registered office is 8 Lulworth Close, Hayling Island, Hampshire, PO110NY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Plant & machinery - 10% on reducing balance Computer equipment - 33% on cost
Principal Activity
The principal activity of the company for this period is Veterinary Activities
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Petsmiths Limited Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
3,015 
5,274 
8,289 
At 31 October 2023
3,015 
5,274 
8,289 
Depreciation
At 1 November 2022
904 
4,283 
5,187 
Charge for the year
452 
964 
1,416 
At 31 October 2023
1,356 
5,247 
6,603 
Net book value
At 31 October 2023
1,659 
27 
1,686 
At 31 October 2022
2,111 
991 
3,102 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
(7,176)
3,600 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
5,045 
4,860 
Trade creditors
56 
188 
Taxes and social security
22,803 
19,684 
Loans from directors
(2,817)
(3,129)
Accruals
875 
875 
25,962 
22,478 
7
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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