Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseInvestment activitiesThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22truefalse 10998246 2023-01-01 2023-12-31 10998246 2022-01-01 2022-12-31 10998246 2023-12-31 10998246 2022-12-31 10998246 c:Director2 2023-01-01 2023-12-31 10998246 d:OfficeEquipment 2023-01-01 2023-12-31 10998246 d:OfficeEquipment 2023-12-31 10998246 d:OfficeEquipment 2022-12-31 10998246 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10998246 d:CurrentFinancialInstruments 2023-12-31 10998246 d:CurrentFinancialInstruments 2022-12-31 10998246 d:Non-currentFinancialInstruments 2023-12-31 10998246 d:Non-currentFinancialInstruments 2022-12-31 10998246 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10998246 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10998246 d:ShareCapital 2023-12-31 10998246 d:ShareCapital 2022-12-31 10998246 d:RetainedEarningsAccumulatedLosses 2023-12-31 10998246 d:RetainedEarningsAccumulatedLosses 2022-12-31 10998246 c:FRS102 2023-01-01 2023-12-31 10998246 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10998246 c:FullAccounts 2023-01-01 2023-12-31 10998246 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10998246 6 2023-01-01 2023-12-31 10998246 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 10998246






PETFOLD LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










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PETFOLD LIMITED
REGISTERED NUMBER:10998246

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
152
659

Investments
 5 
584,329
550,817

  
584,481
551,476

Current assets
  

Debtors: amounts falling due after more than one year
 6 
407,638
458,861

Cash at bank and in hand
 7 
437,806
628,160

  
845,444
1,087,021

Creditors: amounts falling due within one year
 8 
(114,396)
(232,341)

Net current assets
  
 
 
731,048
 
 
854,680

Total assets less current liabilities
  
1,315,529
1,406,156

  

Net assets
  
1,315,529
1,406,156


Capital and reserves
  

Called up share capital 
  
601,892
601,892

Profit and loss account
  
713,637
804,264

  
1,315,529
1,406,156


Page 1

 
PETFOLD LIMITED
REGISTERED NUMBER:10998246
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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: 




R S Anderson
Director

Date: 12 September 2024

Page 2

 
PETFOLD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Petfold Limited is a private company limited by share capital, incorporated in England and Wales, registration number 10998246. The address of the registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity of the company is that of investment activities.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Financial Instruments
Net gains or losses from financial instruments at fair value through profit and loss includes all realised and unrealised fair value changes but does not include dividend income.
Dividend Income
Dividend income is recognised in the profit and loss on the date at which the rights to receive payment is established.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
PETFOLD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
PETFOLD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
PETFOLD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
2,704



At 31 December 2023

2,704



Depreciation


At 1 January 2023
2,045


Charge for the year on owned assets
507



At 31 December 2023

2,552



Net book value



At 31 December 2023
152



At 31 December 2022
659

Page 6

 
PETFOLD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in associates
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2023
222,878
327,939
550,817


Additions
-
85,020
85,020


Disposals
-
(36,179)
(36,179)


Amounts written off
-
(15,329)
(15,329)



At 31 December 2023
222,878
361,451
584,329




Page 7

 
PETFOLD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
407,638
458,861

407,638
458,861



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
437,806
628,160

437,806
628,160



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
18,064
16,505

Other creditors
93,332
212,836

Accruals and deferred income
3,000
3,000

114,396
232,341


 
Page 8