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REGISTERED NUMBER: 06502500 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 June 2023

for

Pet Brands Limited

Pet Brands Limited (Registered number: 06502500)






Contents of the Financial Statements
for the Year Ended 29 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pet Brands Limited

Company Information
for the Year Ended 29 June 2023







DIRECTORS: Mr R K Sharma
Mr S Sharma





SECRETARY: Ms P Sharma





REGISTERED OFFICE: Unit 1 Paramount House
Gelderd Road
Birstall
West Yorkshire
WF17 9QD





REGISTERED NUMBER: 06502500 (England and Wales)





ACCOUNTANTS: Crowther Chartered Accountants
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Pet Brands Limited (Registered number: 06502500)

Balance Sheet
29 June 2023

29.6.23 29.6.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,928,016 1,966,559
Tangible assets 5 365,222 427,938
2,293,238 2,394,497

CURRENT ASSETS
Stocks 6 2,211,611 2,152,503
Debtors 7 3,571,526 2,942,092
Cash at bank 114,928 77,736
5,898,065 5,172,331
CREDITORS
Amounts falling due within one year 8 2,144,138 1,345,851
NET CURRENT ASSETS 3,753,927 3,826,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,047,165

6,220,977

CREDITORS
Amounts falling due after more than one
year

9

(336,992

)

(530,977

)

PROVISIONS FOR LIABILITIES (83,638 ) (52,161 )
NET ASSETS 5,626,535 5,637,839

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 13 1,294,418 1,294,418
Retained earnings 4,332,017 4,343,321
SHAREHOLDERS' FUNDS 5,626,535 5,637,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Pet Brands Limited (Registered number: 06502500)

Balance Sheet - continued
29 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30 July 2024 and were signed on its behalf by:





Mr R K Sharma - Director


Pet Brands Limited (Registered number: 06502500)

Notes to the Financial Statements
for the Year Ended 29 June 2023

1. STATUTORY INFORMATION

Pet Brands Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intellectual property
Intellectual property is not depreciated and revalued on an annual basis.

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.

Goodwill are being amortised evenly over their estimated useful life of fifteen years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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.


Pet Brands Limited (Registered number: 06502500)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2023

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
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 28 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual Computer
property Goodwill software Totals
£ £ £ £
COST OR VALUATION
At 30 June 2022 1,298,918 659,885 42,000 2,000,803
Additions - - 9,000 9,000
At 29 June 2023 1,298,918 659,885 51,000 2,009,803
AMORTISATION
At 30 June 2022 - 32,169 2,075 34,244
Amortisation for year - 42,893 4,650 47,543
At 29 June 2023 - 75,062 6,725 81,787
NET BOOK VALUE
At 29 June 2023 1,298,918 584,823 44,275 1,928,016
At 29 June 2022 1,298,918 627,716 39,925 1,966,559

Cost or valuation at 29 June 2023 is represented by:

Intellectual Computer
property Goodwill software Totals
£ £ £ £
Valuation in 2023 1,298,918 659,885 51,000 2,009,803

Pet Brands Limited (Registered number: 06502500)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 30 June 2022 104,200 991,861 6,500 54,952 1,157,513
Additions 1,735 - - - 1,735
At 29 June 2023 105,935 991,861 6,500 54,952 1,159,248
DEPRECIATION
At 30 June 2022 24,194 643,929 6,500 54,952 729,575
Charge for year 12,261 52,190 - - 64,451
At 29 June 2023 36,455 696,119 6,500 54,952 794,026
NET BOOK VALUE
At 29 June 2023 69,480 295,742 - - 365,222
At 29 June 2022 80,006 347,932 - - 427,938

Included within the net book value is £68,005 (2022 - £80,006), which relates to assets held under hire purchase agreements. The depreciation charge to the financial statements in the year in respect of such assets amounted to £12,001 (2022 - £21,589).

6. STOCKS
29.6.23 29.6.22
£ £
Stocks 2,211,611 2,152,503

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.23 29.6.22
£ £
Trade debtors 2,441,856 1,326,978
Amounts owed by associates 1,120,085 1,606,166
Other debtors 9,585 8,948
3,571,526 2,942,092

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.23 29.6.22
£ £
Bank loans and overdrafts (see note 10) 272,443 214,044
Hire purchase contracts (see note 11) 33,984 33,983
Trade creditors 405,232 871,198
Amounts owed to associates - 109,000
Taxation and social security 150,312 64,033
Other creditors 1,282,167 53,593
2,144,138 1,345,851

Pet Brands Limited (Registered number: 06502500)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.6.23 29.6.22
£ £
Bank loans (see note 10) 320,000 480,000
Hire purchase contracts (see note 11) 16,992 50,977
336,992 530,977

10. LOANS

An analysis of the maturity of loans is given below:

29.6.23 29.6.22
£ £
Amounts falling due within one year or on demand:
Bank overdrafts 112,443 54,044
Bank loans 160,000 160,000
272,443 214,044

Amounts falling due between one and two years:
Bank loans - 1-2 years 160,000 160,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 160,000 320,000

11. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

29.6.23 29.6.22
£ £
Net obligations repayable:
Within one year 33,984 33,983
Between one and five years 16,992 50,977
50,976 84,960

12. SECURED DEBTS

The following secured debts are included within creditors:

29.6.23 29.6.22
£ £
Bank loans 480,000 640,000
Hire purchase contracts 50,976 84,960
530,976 724,960

Sme Invoice Finance Limited hold a fixed and floating charge over all assets of the company.

Pet Brands Limited (Registered number: 06502500)

Notes to the Financial Statements - continued
for the Year Ended 29 June 2023

13. RESERVES
Revaluation
reserve
£
At 30 June 2022
and 29 June 2023 1,294,418

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 June 2023 and 29 June 2022:

29.6.2329.6.22
££
Director 1
Balance outstanding at start of year-65,938
Amounts advanced--
Amounts repaid-(65,938)
Amounts written off--
Amounts waived--
Balance outstanding at end of year--

Included in creditors:amounts falling due within one year is a loan from the directors of £252,936 (2022 - £44,936). The loan is interest free with no fixed date for repayment.

15. RELATED PARTY DISCLOSURES

At the year end Pet Brands Limited was owed £1,120,085 (2022 - £1,606,166) from companies with common directors and Pet Brands Limited owed these companies £nil (2022 - £109,000).

16. ULTIMATE CONTROLLING PARTY

The controlling party is its directors.