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REGISTERED NUMBER: 07706594 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Petspyjamas Limited

Petspyjamas Limited (Registered number: 07706594)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Petspyjamas Limited (Registered number: 07706594)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 96,455 22,163
Tangible assets 5 2,207 3,773
98,662 25,936

CURRENT ASSETS
Debtors 6 1,440,546 1,897,975
Cash at bank 31,612 38,214
1,472,158 1,936,189
CREDITORS
Amounts falling due within one year 7 (2,427,155 ) (1,528,400 )
NET CURRENT (LIABILITIES)/ASSETS (954,997 ) 407,789
TOTAL ASSETS LESS CURRENT
LIABILITIES

(856,335

)

433,725

CREDITORS
Amounts falling due after more than one year 8 (14,999 ) (24,351 )
NET (LIABILITIES)/ASSETS (871,334 ) 409,374

CAPITAL AND RESERVES
Called up share capital 1,591 1,591
Share premium 12,915,530 12,915,530
Other reserves 63,189 63,189
Shares in advance 1,130,090 1,130,090
Retained earnings (14,981,734 ) (13,701,026 )
(871,334 ) 409,374

Petspyjamas Limited (Registered number: 07706594)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





K A Hanton - Director


Petspyjamas Limited (Registered number: 07706594)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Petspyjamas Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07706594

Registered office: 81 Leonard Street
London
EC2A 4QS

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section I A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover is measured at the value of commission on holiday bookings and accessory sales received or receivable excluding discounts, rebates, value added tax and other sales taxes.

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.

Trademarks and licences are being amortised evenly over their estimated useful life of four years.

Development costs are amortised on a straight line basis over 4 years in order to write off the cost less estimated residual value of the asset over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 25% on cost

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Petspyjamas Limited (Registered number: 07706594)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Going concern
The balance sheet at the end of the year recorded net current liabilities. However, the director believes that sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

Share-based payments
The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking into account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 44,733
Additions 110,605
At 31 December 2023 155,338
AMORTISATION
At 1 January 2023 22,570
Charge for year 36,313
At 31 December 2023 58,883
NET BOOK VALUE
At 31 December 2023 96,455
At 31 December 2022 22,163

Petspyjamas Limited (Registered number: 07706594)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 22,374
DEPRECIATION
At 1 January 2023 18,601
Charge for year 1,566
At 31 December 2023 20,167
NET BOOK VALUE
At 31 December 2023 2,207
At 31 December 2022 3,773

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 136,731 696,268
Amounts owed by related party 550,916 719,195
Other debtors 752,899 482,512
1,440,546 1,897,975

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 65,020 10,648
Trade creditors 179,034 885,430
Taxation and social security 87,103 17,044
Other creditors 2,095,998 615,278
2,427,155 1,528,400

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,999 24,351

9. OTHER FINANCIAL COMMITMENTS

Minimum lease payments under non-cancellable operating leases are £nil (2022: £60,000).

Petspyjamas Limited (Registered number: 07706594)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. SHARE-BASED PAYMENT TRANSACTIONS

The company operates an equity settled Enterprise Management Incentive (EMI) Share Option Scheme. The options are granted with a fixed exercise price determined at the grant of the option. The options are exercisable until up to the 10th anniversary from the date of grant. Employees are not entitled to dividends until the shares are exercised. Vesting of options is subject to continued employment with the company.

The company had the following options granted in the year.



Share Option Type

Date of Grant
Number of
Shares
Average Exercise
Price
Enterprise Management Incentive26/01/202259,335£0.001
Enterprise Management Incentive29/07/20196,440£0.001

Name of sharesEMI Scheme
Brought forward67,920
Granted in the yearNil
Exercised in the yearNil
Lapsed in the year24,290
Carried forward43,630
Exercisable at Year end43,630



The fair value of the options granted have been calculated using the Black Scholes model. The total charge for the period was Nil (2022: Nil).

11. TOTAL TRANSACTION VALUE

2023 2022
£ £
Total Transaction Value 4,462,417 4,147,642
Turnover 859,614 777,142