Company registration number 14895503 (England and Wales)
PET CENTRE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
PET CENTRE HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mrs D L Larkin
Mr P Larkin
Miss C Larkin
Mr T Larkin
Company number
14895503
Registered office
28-30 East Street
Newquay
Cornwall
TR7 1BH
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
PET CENTRE HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
PET CENTRE HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PET CENTRE HOLDINGS LIMITED FOR THE PERIOD ENDED 31 MAY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pet Centre Holdings Limited for the period ended 31 May 2024 which comprise, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Pet Centre Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pet Centre Holdings Limited and state those matters that we have agreed to state to the board of directors of Pet Centre Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pet Centre Holdings Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Pet Centre Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pet Centre Holdings Limited. You consider that Pet Centre Holdings Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Pet Centre Holdings 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 financial statements.

Ormerod Rutter Limited
19 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
PET CENTRE HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 2 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
337,141
Investments
4
100
337,241
Current assets
Debtors
5
11,098
Cash at bank and in hand
9,179
20,277
Creditors: amounts falling due within one year
6
(133,686)
Net current liabilities
(113,409)
Total assets less current liabilities
223,832
Creditors: amounts falling due after more than one year
7
(172,442)
Net assets
51,390
Capital and reserves
Called up share capital
9
200
Profit and loss reserves
51,190
Total equity
51,390

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mrs D L Larkin
Mr P Larkin
Director
Director
Company registration number 14895503 (England and Wales)
PET CENTRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Pet Centre Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 28-30 East Street, Newquay, Cornwall, TR7 1BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PET CENTRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
4
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024
-
0
Additions
337,141
At 31 May 2024
337,141
Depreciation and impairment
At 1 January 2024 and 31 May 2024
-
0
Carrying amount
At 31 May 2024
337,141
PET CENTRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 5 -
4
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
100
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
-
Additions
100
At 31 May 2024
100
Carrying amount
At 31 May 2024
100
5
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
6,129
Other debtors
2,869
8,998
Deferred tax asset
2,100
11,098
6
Creditors: amounts falling due within one year
2024
£
Bank loans
6,420
Trade creditors
2,921
Amounts owed to group undertakings
21,335
Taxation and social security
1,235
Other creditors
101,775
133,686
PET CENTRE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MAY 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
172,442
8
Secured debts
The following secured debts are included within creditors:
2024
£
Bank loans
178,862
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
9
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A Shares of £1 each
70
70
Ordinary B Shares of £1 each
70
70
Ordinary C Shares of £1 each
30
30
Ordinary D Shares of £1 each
30
30
200
200

The following shares were allotted and fully paid for cash at par during the period:

70 Ordinary A shares of £1 each

70 Ordinary B shares of £1 each

30 Ordinary C shares of £1 each

30 Ordinary D shares of £1 each

10
Ultimate controlling party

The ultimate controlling party is Mr P Larkin and Mrs D L Larkin.

11
Comparatives

This is the company's first period of trade, therefore there are no comparatives.

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