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Registered number: 07280223
Premier Pets Hotel Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07280223
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 330,586 330,086
330,586 330,086
CURRENT ASSETS
Debtors 5 73,234 6,705
Cash at bank and in hand 144,321 155,767
217,555 162,472
Creditors: Amounts Falling Due Within One Year 6 (48,579 ) (46,019 )
NET CURRENT ASSETS (LIABILITIES) 168,976 116,453
TOTAL ASSETS LESS CURRENT LIABILITIES 499,562 446,539
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,375 ) (11,063 )
NET ASSETS 483,187 435,476
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 483,087 435,376
SHAREHOLDERS' FUNDS 483,187 435,476
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Page 2
For the year ending 30 April 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M Vassallo
Director
21 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Premier Pets Hotel Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07280223 . The registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 10% reducing balance
Computer Equipment 33% straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 9)
2 9
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 May 2023 196,817 26,207 49,707 225,373
Additions 2,562 1,136 - 18,270
Disposals - (4,583 ) - -
As at 30 April 2024 199,379 22,760 49,707 243,643
Depreciation
As at 1 May 2023 26,303 17,944 42,271 85,360
Provided during the period - 1,640 1,859 14,850
Disposals - (3,382 ) - -
As at 30 April 2024 26,303 16,202 44,130 100,210
Net Book Value
As at 30 April 2024 173,076 6,558 5,577 143,433
As at 1 May 2023 170,514 8,263 7,436 140,013
Computer Equipment Total
£ £
Cost
As at 1 May 2023 9,073 507,177
Additions 1,139 23,107
Disposals (1,500 ) (6,083 )
As at 30 April 2024 8,712 524,201
Depreciation
As at 1 May 2023 5,213 177,091
Provided during the period 2,057 20,406
Disposals (500 ) (3,882 )
As at 30 April 2024 6,770 193,615
Net Book Value
As at 30 April 2024 1,942 330,586
As at 1 May 2023 3,860 330,086
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 73,234 6,705
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 700 478
Corporation tax 36,752 18,827
VAT 7,751 13,405
Accruals and deferred income 2,725 2,610
Directors' loan accounts 651 10,699
48,579 46,019
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
At the balance sheet date, the company owed the Directors £651 (2023: £10,699). The amount is unsecured, interest-free, with no fixed repayment date.
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