1 November 2022 v2024.36.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP104076332022-11-012023-10-31104076332023-10-31104076332022-10-3110407633core:WithinOneYear2023-10-3110407633core:WithinOneYear2022-10-3110407633core:AfterOneYear2023-10-3110407633core:AfterOneYear2022-10-3110407633core:ShareCapital2023-10-3110407633core:ShareCapital2022-10-3110407633core:RetainedEarningsAccumulatedLosses2023-10-3110407633core:RetainedEarningsAccumulatedLosses2022-10-3110407633bus:Director12022-11-012023-10-3110407633bus:RegisteredOffice2022-11-012023-10-3110407633core:FurnitureFittings2022-11-012023-10-3110407633core:LandBuildings2022-11-012023-10-31104076332021-11-012022-10-3110407633core:LandBuildings2023-10-3110407633core:PlantMachinery2023-10-3110407633core:LandBuildings2022-11-0110407633core:PlantMachinery2022-11-01104076332022-11-0110407633core:PlantMachinery2022-11-012023-10-3110407633core:PlantMachinery2022-10-311040763312022-11-012023-10-3110407633countries:EnglandWales2022-11-012023-10-3110407633bus:AuditExemptWithAccountantsReport2022-11-012023-10-3110407633bus:PrivateLimitedCompanyLtd2022-11-012023-10-3110407633bus:SmallEntities2022-11-012023-10-3110407633bus:FullAccounts2022-11-012023-10-31
Company registration number:
10407633
Paws Parlour & Pet Boutique Ltd
Unaudited Filleted Financial Statements for the year ended
31 October 2023
Paws Parlour & Pet Boutique Ltd
Statement of Financial Position
31 October 2023
20232022
Note££
Fixed assets    
Tangible assets 5
518
 
691
 
Current assets    
Stocks
2,310
 
1,985
 
Debtors 6
1,768
 
3,714
 
Cash at bank and in hand
9,060
 
24,336
 
13,138
 
30,035
 
Creditors: amounts falling due within one year 7
(28,559
)
(30,928
)
Net current liabilities
(15,421
)
(893
)
Total assets less current liabilities (14,903 ) (202 )
Creditors: amounts falling due after more than one year 8
(7,000
)
(11,200
)
Net liabilities
(21,903
)
(11,402
)
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(21,904
)
(11,403
)
Shareholders deficit
(21,903
)
(11,402
)
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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
2 August 2024
, and are signed on behalf of the board by:
Zoe Howell-Fausto
Director
Company registration number:
10407633
Paws Parlour & Pet Boutique Ltd
Notes to the Financial Statements
Year ended
31 October 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
G2 Beacon Innovation Centre
,
Camelot Road
,
Gorleston
,
Norfolk
,
NR31 7RA
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

At 31 October 2023, the company was insolvent by £21,903 (2022: £11,402). Given this, there is a material uncertainty which may cast significant doubt as to the company’s ability to continue as a going concern and it may be unable to discharge its liabilities in the normal course of business. However, having regard to the current continued support of the director they continue to adopt the going concern basis in preparing the accounts, and accordingly the financial statements do not contain any adjustments that would result if the directors support were to be withdrawn.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
25% reducing balance
Land and buildings
Straight line over 5 years

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
5
(2022:
4.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 November 2022
and
31 October 2023
8,206
 
3,885
 
12,091
 
Depreciation      
At
1 November 2022
8,206
 
3,194
 
11,400
 
Charge -  
173
 
173
 
At
31 October 2023
8,206
 
3,367
 
11,573
 
Carrying amount      
At
31 October 2023
-  
518
 
518
 
At 31 October 2022 -  
691
 
691
 

6 Debtors

20232022
££
Trade debtors
560
 
1,246
 
Other debtors
1,208
 
2,468
 
1,768
 
3,714
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
4,200
 
4,200
 
Taxation and social security
6,089
 
11,204
 
Other creditors
18,270
 
15,524
 
28,559
 
30,928
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
7,000
 
11,200