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Logo On Report
Registered Number: 05465535
England and Wales

 

 

 

ADLINGTON PET CENTRE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Adlington Pet Centre Limited for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Adlington Pet Centre Limited for the year ended 31 July 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of Adlington Pet Centre Limited , as a body, in accordance with the terms of our engagement letter dated 27 September 2024. Our work has been undertaken solely to prepare for your approval the accounts of Adlington Pet Centre Limited and state those matters that we have agreed to state to the Board of Directors of Adlington Pet Centre Limited, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adlington Pet Centre Limited and its Board of Directors as a body for our work or for this report
It is your duty to ensure that Adlington Pet Centre Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit Adlington Pet Centre Limited. You consider that Adlington Pet Centre Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Adlington Pet Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.


Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
27 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 350,266    139,312 
Investments 4 10,000    10,000 
360,266    149,312 
Current assets      
Stocks 520,000    475,000 
Debtors 71,845    92,685 
Cash at bank and in hand 1,026,106    994,842 
1,617,951    1,562,527 
Creditors: amount falling due within one year (512,281)   (387,586)
Net current assets 1,105,670    1,174,941 
 
Total assets less current liabilities 1,465,936    1,324,253 
Provisions for liabilities (12,339)   (13,992)
Net assets 1,453,597    1,310,261 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 1,453,497    1,310,161 
Shareholders' funds 1,453,597    1,310,261 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 September 2024 and were signed on its behalf by:


-------------------------------
Andrew Brown
Director
2
General Information
Adlington Pet Centre Limited is a private company, limited by shares, registered in England and Wales, registration number 05465535, registration address Bank House, 6-8 Church Street, Adlington, Chorley, PR7 4EX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0 Reducing Balance
Plant and Machinery 15 Reducing Balance
Motor Vehicles 25 Reducing Balance
Fixtures and Fittings 10 Reducing Balance
Computer Equipment 33 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 21 (2023 : 16).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £   £   £
At 01 August 2023 72,889    43,634    33,011    19,614    67,890    237,038 
Additions 1,450      3,478      220,000    224,928 
Disposals          
At 31 July 2024 74,339    43,634    36,489    19,614    287,890    461,966 
Depreciation
At 01 August 2023   56,428    41,299        97,727 
Charge for year 6,021    5,352    993    1,607      13,973 
On disposals          
At 31 July 2024 6,021    61,780    42,292    1,607      111,700 
Net book values
Closing balance as at 31 July 2024 68,318    (18,146)   (5,803)   18,007    287,890    350,266 
Opening balance as at 01 August 2023 38,687    21,408    8,646    2,681    67,890    139,312 

The net book value of Land and Buildings includes £ 287,890 (2023 £67,890) in respect of assets leased under finance leases or hire purchase contracts.

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 August 2023  
Additions 10,000    10,000 
Transfer to/from tangible fixed assets  
Disposals  
At 31 July 2024 10,000    10,000 

3