Year Ended
Registration number:
Pet Mate Midco Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Pet Mate Midco Limited
Balance Sheet
31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
- |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
Pet Mate Midco Limited
Balance Sheet
31 January 2024
For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 12289287
Pet Mate Midco Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
Going concern
The financial statements have been prepared on a going concern basis. Subsequent to the year end, the group successfully completed a refinancing process which will allow the business to continue trading for the foreseeable future.
Investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Pet Mate Midco Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2024
Financial instruments
Classification
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The Company has
Investments |
2024 |
2023 |
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Series B1 Loan Notes |
- |
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The Company has made a provision against the Series B2 Loan Notes on the basis that the timing and amount of receipts in respect of this balance are uncertain. This has been charged to the profit and loss as an exceptional item.
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Pet Mate Midco Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2024
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Suite C
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Suite C
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Subsidiary undertakings |
Pet Mate Finance Limited The principal activity of Pet Mate Finance Limited is |
Pet Mate Limited* The principal activity of Pet Mate Limited* is |
* Held indirectly via Pet Mate Finance Limited.
Debtors |
2024 |
2023 |
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Amounts owed by group undertakings |
- |
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- |
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The Company has provided against intercompany debtors on the basis that the timing and amount of receipts in respect to the debtor balances are uncertain. This has been charged to the profit and loss as an exceptional item.
Pet Mate Midco Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Amounts owed to group undertakings |
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- |
Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2024 |
2023 |
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Loans and borrowings due after one year |
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Amounts owed to group undertakings |
- |
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Other loans |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Pet Mate Midco Limited
Notes to the Unaudited Financial Statements
Year Ended 31 January 2024
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
Cross guarantee existed at 31 January 2024 and 31 January 2023 in respect of guarantees given by the company on behalf of a group company Pet Mate Finance Ltd to Shawbrook Bank Ltd. Shawbrook Bank Ltd has a first legal charge on the company's real property including its intellectual property. In addition there is an unscheduled mortgage debenture incorporating a fixed and floating charge over all present and future assets of the company. At the year end, Pet Mate Finance Limited had bank loans of £8,152,072.
Non adjusting events after the financial period |
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Parent and ultimate parent undertaking |
The company's immediate and ultimate parent is
As at the year end, the company's immediate and ultimate parent was Pet Mate Holdco Limited, incorporated in England & Wales.
The group is small and therefore does not prepare group accounts.