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UKPETSUPPLIES LTD

Registered Number
07345650
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

UKPETSUPPLIES LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Mr Benjamin Michael Asquith

Registered Address

Unit 35 Holme Bank Mills
Mirfield
WF14 8NA

Registered Number

07345650 (England and Wales)
UKPETSUPPLIES LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,72617,453
12,72617,453
Current assets
Stocks4379,397339,877
Debtors556,39011,960
Cash at bank and on hand68,14458,295
503,931410,132
Creditors amounts falling due within one year6(401,200)(287,628)
Net current assets (liabilities)102,731122,504
Total assets less current liabilities115,457139,957
Net assets115,457139,957
Capital and reserves
Profit and loss account115,457139,957
Shareholders' funds115,457139,957
The financial statements were approved and authorised for issue by the Director on 27 August 2024, and are signed on its behalf by:
Mr Benjamin Michael Asquith
Director
Registered Company No. 07345650
UKPETSUPPLIES LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year99
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 July 2314,19835,24049,438
Additions-2,2752,275
At 30 June 2414,19837,51551,713
Depreciation and impairment
At 01 July 235,99325,99231,985
Charge for year2,6614,3417,002
At 30 June 248,65430,33338,987
Net book value
At 30 June 245,5447,18212,726
At 30 June 238,2059,24817,453
4.Stocks

2024

2023

££
Finished goods379,397339,877
Total379,397339,877
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables28,263641
Other debtors23,5047,581
Prepayments and accrued income4,6233,738
Total56,39011,960
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables189,14868,975
Bank borrowings and overdrafts125,009137,946
Taxation and social security43,08672,764
Other creditors43,9577,943
Total401,200287,628