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Paradise Pets Ltd
Registered Number:03910898
For the year ended 31 January 2024
England and Wales
Unaudited Financial Statements
2
Registered Number :
03910898
As at 31 January 2024
Paradise Pets Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
7,378
8,950
2
7,378
8,950
Current assets
Inventories
45,000
36,400
3
Trade and other receivables
320
599
4
138
Cash and cash equivalents
138
37,137
45,458
Trade and other payables: amounts falling due within one
year
(32,656)
(27,181)
5
12,802
9,956
Net current assets
Total assets less current liabilities
17,334
21,752
Trade and other payables: amounts falling due after more
than one year
(9,333)
(6,506)
6
10,828
Net assets
12,419
Capital and reserves
Called up share capital
2
2
Retained earnings
10,826
12,417
10,828
12,419
Shareholders' funds
For the year ended 31 January 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Neil James Eatwell Director
These financial statements were approved and authorised for issue by the Board on 17 September 2024 and were signed by:
The notes form part of these financial statements
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3
For the year ended 31 January 2024
Paradise Pets Ltd
Notes to the Financial Statements
Statutory Information
Paradise Pets Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 03910898.
Principal place of business:
Manor Garden Centre
Cheney Manor Industrial Estate
Swindon
Wiltshire
SN2 2QJ
Registered address:
48 The Causeway
Chippenham
Wiltshire
SN15 3DD
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
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:
Plant and machinery
20% Reducing balance
25% Reducing balance
Computer equipment
25% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures and fittings
Inventories
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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4
For the year ended 31 January 2024
Paradise Pets Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
£
Cost or
valuation
At 01 February 2023
94,637
6,545
38,134
43,428
6,530
634
634
-
-
-
Additions
At 31 January 2024
43,428
38,134
7,179
95,271
6,530
Provision for depreciation and impairment
At 01 February 2023
85,687
4,938
37,242
39,872
3,635
Charge for year
2,206
560
178
889
579
At 31 January 2024
87,893
5,498
37,420
40,761
4,214
At 31 January 2024
Net book value
2,316
2,667
714
1,681
7,378
At 31 January 2023
2,895
3,556
892
1,607
8,950
3. Inventories
2023
2024
£
£
Stocks
36,400
45,000
4. Trade and other receivables
2023
2024
£
£
Trade debtors
599
320
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
18,732
17,937
Trade creditors
-
1
Taxation and social security
6,485
9,449
Other creditors
1,964
5,269
27,181
32,656
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5
For the year ended 31 January 2024
Paradise Pets Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
6,506
9,333
7. Average number of persons employed
During the year the average number of employees was 6 (2023 : 6)
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