Animaltastic Limited 08770430 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Animal and Pet Shop Digita Accounts Production Advanced 6.30.9574.0 true 08770430 2023-04-01 2024-03-31 08770430 2024-03-31 08770430 bus:OrdinaryShareClass1 2024-03-31 08770430 core:CurrentFinancialInstruments 2024-03-31 08770430 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08770430 core:Goodwill 2024-03-31 08770430 core:FurnitureFittingsToolsEquipment 2024-03-31 08770430 core:MotorVehicles 2024-03-31 08770430 bus:SmallEntities 2023-04-01 2024-03-31 08770430 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08770430 bus:FilletedAccounts 2023-04-01 2024-03-31 08770430 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08770430 bus:RegisteredOffice 2023-04-01 2024-03-31 08770430 bus:Director2 2023-04-01 2024-03-31 08770430 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08770430 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08770430 core:Goodwill 2023-04-01 2024-03-31 08770430 core:FurnitureFittings 2023-04-01 2024-03-31 08770430 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08770430 core:MotorVehicles 2023-04-01 2024-03-31 08770430 core:OfficeEquipment 2023-04-01 2024-03-31 08770430 core:OtherRelatedParties 2023-04-01 2024-03-31 08770430 countries:England 2023-04-01 2024-03-31 08770430 2023-03-31 08770430 core:Goodwill 2023-03-31 08770430 core:FurnitureFittingsToolsEquipment 2023-03-31 08770430 core:MotorVehicles 2023-03-31 08770430 2022-04-01 2023-03-31 08770430 2023-03-31 08770430 bus:OrdinaryShareClass1 2023-03-31 08770430 core:CurrentFinancialInstruments 2023-03-31 08770430 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08770430 core:Goodwill 2023-03-31 08770430 core:FurnitureFittingsToolsEquipment 2023-03-31 08770430 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08770430

Animaltastic Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Animaltastic Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Animaltastic Limited

(Registration number: 08770430)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

63,955

68,275

Tangible assets

5

54,469

64,036

 

118,424

132,311

Current assets

 

Stocks

6

133,479

100,511

Debtors

7

15,794

16,321

Cash at bank and in hand

 

69,243

104,327

 

218,516

221,159

Creditors: Amounts falling due within one year

8

(165,422)

(164,747)

Net current assets

 

53,094

56,412

Net assets

 

171,518

188,723

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

171,516

188,721

Shareholders' funds

 

171,518

188,723

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Animaltastic Limited

(Registration number: 08770430)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 2 December 2024 and signed on its behalf by:
 

.........................................
Mr N Coles
Director

 

Animaltastic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
30 The Queens Square
Hemel Hempstead
Herts
HP2 4ER

These financial statements were authorised for issue by the Board on 2 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

The company received government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised using the accruals model and as such are recorded in the profit and loss account in the period in which the company is entitled to such grants as a result of having furloughed staff members.

 

Animaltastic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Equipment

15% reducing balance

Motor vehicles

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 - 25 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Animaltastic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 19).

 

Animaltastic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

94,205

94,205

At 31 March 2024

94,205

94,205

Amortisation

At 1 April 2023

25,930

25,930

Amortisation charge

4,320

4,320

At 31 March 2024

30,250

30,250

Carrying amount

At 31 March 2024

63,955

63,955

At 31 March 2023

68,275

68,275

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

139,776

23,909

163,685

Additions

46

-

46

At 31 March 2024

139,822

23,909

163,731

Depreciation

At 1 April 2023

87,018

12,631

99,649

Charge for the year

7,921

1,692

9,613

At 31 March 2024

94,939

14,323

109,262

Carrying amount

At 31 March 2024

44,883

9,586

54,469

At 31 March 2023

52,758

11,278

64,036

 

Animaltastic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Stocks

2024
£

2023
£

Other inventories

133,479

100,511

7

Debtors

2024
£

2023
£

Prepayments

8,294

8,821

Other debtors

7,500

7,500

15,794

16,321

 

Animaltastic Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

15,160

10,135

Directors' current account

11

106,784

109,621

Taxation and social security

 

35,134

36,743

Accruals and deferred income

 

7,059

6,849

Other creditors

 

1,285

1,399

 

165,422

164,747

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

10

Dividends

2024

2023

£

£

Interim dividend of £27,600.00 (2023 - £32,000.00) per ordinary share

55,200

64,000

 

 

11

Related party transactions

The Directors

During the year the directors loaned the company £NIL (2023: £NIL). At the year end the amount owed to the directors totalled £106,784 (2023: £109,621).