Company registration number: 12293065
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UNAUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
31 JANUARY 2023
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COMPANY INFORMATION
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P R Egan (appointed 15 November 2023)
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J E Carr (appointed 8 December 2023)
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CONTENTS
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Statement of financial position
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Notes to the financial statements
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PET MATE FINANCE LIMITED
REGISTERED NUMBER:12293065
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STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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PET MATE FINANCE LIMITED
REGISTERED NUMBER:12293065
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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P R Egan
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The notes on pages 3 to 5 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
Pet Mate Finance Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office is disclosed on the company information page. The principal place of business is the same
as the registered office.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Subsequent to the year end, the group successfully completed a refinancing process which will allow the business to continue trading for the foreseeable future.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Investments in subsidiaries are measured at cost less accumulated impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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Shawbrook Bank Ltd has a first legal charge on the company's real property including its intellectual property. In addition there is an unscheduled mortgage debenture incorporating a fixed and floating charge over all present and future assets of the company.
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Post balance sheet events
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Subsequent to the year end, the Pet Mate Group completed a refinancing exercised which resulted in the write down of other loans to £2.9m.
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